In July 2008, David Clayton, senior analyst at ARC Consulting Group, wrote in Control Valve Worldwide Outlook: According to the rapid growth of the global control valve market in 2006 and 2007, it is predicted that the global control valve market will maintain a compound annual growth rate of 6% in the next five years, and the global control valve market sales of 4.8 billion US dollars in 2007 will be estimated by 2012. The global control valve market is expected to exceed $6.4 billion (figure below).
Unfortunately, in the first quarter of 2008, there was high demand for control valves in developing countries and regions such as China, India and the Middle East, mainly in the oil and gas industry, but the revenue growth of control valve suppliers in the North American and European markets began to slow down.
In 2008, Mr. Clayton pointed out that while the current global control valve market has strong growth opportunities, challenges remain. In many ways, control valve suppliers are facing the same opportunities and challenges as before. The strong growth of the market in developing countries and regions provides an excellent opportunity for control valve suppliers to expand their business, but at the same time, how to establish a global supply and logistics system, how to develop new products and what kind of new products are the difficulties that control valve suppliers need to face and overcome. For example, many new petrochemical projects require large control valves that can withstand extreme temperature conditions and provide tight shut-off function; There are also deepwater oil operations that require high-pressure control valves that can provide effective opening thrust or have sufficient torque.
In addition, with the continuous improvement of the degree of automation of modern production processes, process parameters have become an important indicator to judge the efficiency of production processes, working conditions and economic performance, and the role of control valves in continuous and discrete control, energy metering, trade settlement and storage and transportation systems is becoming increasingly prominent. The requirements for precise control, multi-function and intelligence of the control valve are getting higher and higher.
One of the highlights of the development of the automation industry in 2007 is the rise of wireless communication applications in industrial automation factories, wireless communication technology remote, mobile, anytime and anywhere control advantages make the original line control dwarfised. Therefore, on the one hand, control valve suppliers actively develop DTMs (DigitalTV Monitor System), To work with a variety of intelligent field devices designed with data embedding based on PAM (Pulse Amplitude Modulation) solutions based on FDT (Formal Description Technique); On the other hand, control valve suppliers are considering vigorously developing wireless HART (Highway Addressable Remote Transducer) products.
In 2008, due to the strong growth of the control valve market in developing countries, control valve suppliers made efforts to extend their manufacturing capabilities to meet customer needs, and the control valve market maintained growth. In sharp contrast to 2008, due to the impact of the financial crisis, the control valve supplier declined sharply in 2009, and the control valve order decreased. In the third quarter of 2009, Mr. Clayton remained optimistic that the global control valve market is expected to recover in 2011.
Affected by the current global economic recession, the development of the global control valve market has undergone great changes. In the past four years, those who are more aggressive and pursue new business have grown faster, and they have also benefited from the rapid growth of the market. Despite the recession, many control valve suppliers once again find themselves in a market full of opportunities and less competition. Therefore, the control valve suppliers can go out and get new business is a very important way to expand, while retaining the existing user base will be more important than ever.
In the past few years, the explosive growth of the control valve market has made the control valve supplier hand orders increased sharply, increasing production in response to market demand, and in 2009, the economic recession, the decline in shipments, the control valve supplier inventory backlog. Leading control valve suppliers will maintain a healthy inventory and quickly absorb the excess inventory in the growth of control valve sales and after-sales service orders. However, due to the inherent complexity of the sales chain and the cyclical nature of long orders, these backlogs are difficult to clear in a short time.
In the face of the world economic recession, Mr. Clayton stressed that the oil and related industrial markets are still the growth point of control valves; Developing economies continue to be the engine driving the growth of the global control valve market. Developing countries such as China, India and Brazil have also been affected by the global economic crisis, but their economic growth rates are still very high compared to other countries, and still maintain the level of economic growth in 2008. Developing economies are still the main growth drivers of the global control valve market. Emerging economies such as the BRIC countries (Brazil, Russia, India and China), as well as the Middle East and Eastern Europe, will continue to support the growing control valve market.
The global control valve market needs to find demand from growing global consumption, which relies on a healthy capital investment and credit environment, solid market returns and intensive production needs. Only in this way can control valve suppliers cope with the upcoming rapidly growing energy demand and the global control valve market consumption demand.
