The valve industry in China has fast developed to be the largest manufacturer in the globe, according to a new report by RnR Market Research.
In 2012, the output volume of valves in China reached 7.213 million tons. The gross output value of the industry exceeded CNY 210 billion (US$ 33.7 billion).
Included in this number are over 1500 state-owned valve enterprises with annual sales revenue of CNY 20 million (US$ 3.2 million). Meanwhile, there are thousands of small-scale enterprises and household workshops.
China’s valve manufacturing industry can provide about 12 categories with over 3,000 models of products in over 4,000 specifications. The parameter performance ranges from vacuum valve to ultra high pressure valve in 600Mpa and the temperature ranges from low -196℃ to high 570 ℃. Major products can basically fit the domestic market demand. With the improvement in complete set ratio, complete set level and ability, the industry has founded a base.
Currently, about 50% of global valve parts are purchased from China. China has been the largest exporter of valves. Global purchase of petroleum equipment drives Chinese valve devices to the overseas market.
In 2012, the import value of valves in China exceeded $US 6 billion. Price advantage is one major factor attracting foreign buyers; besides, the delivery advantage is another factor. For instance, the delivery of Chinese valves is about 6 to 8 weeks while that of European valves is as long as 6 to 24 weeks.