First, the development of the global valve industry

Valves are widely used in the main areas of the national economy. It is one of the key equipment in equipment, machinery and pipelines in energy, petrochemical, metallurgical and electric power industries. Therefore, the development of the valve industry has a certain correlation with the macroeconomic cycle and the investment in fixed assets.

Since 2000, the global economy has steadily recovered from the low valley. According to the statistics of the International Monetary Fund, the average annual growth of GDP in the world from 2001 to 2007 has reached 4.04%, and the annual growth of fixed assets investment in the world reached 3.72%. According to the statistics of the European industrial Forecast Ltd (EuropeanIndustryForecastLimited) "the global valve Market: 2008-2013", the annual growth rate of the sales revenue of the finished product valve in the global economy in the year -2007 year 2002 is 5.60%, maintaining a steady growth trend.

In 2008, the financial crisis started in the United States quickly swept the world, and the major economies, including Europe and North America, were affected. The global GDP growth rate dropped from 5.15% in 2007 to 3.2% in 2008 and -1.32% in 2009. The rapid cooling of the global economy has a negative impact on the investment in fixed assets in the downstream industry. The phenomenon of delayed implementation of fixed assets investment projects has appeared in oil, gas, electricity, chemical industry and other industries. It has a negative impact on the steady growth momentum of the valve industry. According to statistics from market research firm McIlvaine, the global industrial valve industry's revenue in the year of 2009 was $47 billion 436 million, with a growth rate of only 0.56%.

In the medium and long term, the main factors affecting the expansion of the downstream industry in the valve industry, including the growing energy demand, the continuous increase of the global population, and the urbanization and industrialization of developing countries, have not been fundamentally changed by the financial crisis. At present, the major economies of the world have entered the economic recovery cycle (according to the statistics and forecast data of the International Monetary Fund, the global economic growth in 2010, 2011 and 2012 achieved a restorative growth rate of 5.3%, 3.9% and 3.2% respectively, and the growth rate of the global economic year in 2013 and 2014 is expected to be 2.9% and 3.6%). The valve industry has also begun to recover since 2010. According to McIlvaine's survey and forecast data, 2010, 2011 and 2012, the global industrial valve industry income was $49 billion 224 million, $51 billion 317 million and $53 billion 261 million, and the growth rate was restored to 3.77%, 4.25% and 3.79%, and the global industrial valve industry was expected to sell in 2013, -2015. The growth rate will reach 4.22%, 4.05% and 4.36% respectively, showing a steady growth trend.

Two, the market pattern of the global valve industry

The global valve market is mainly concentrated in economically and industrial developed countries and regions. According to the survey and forecast data of McIlvaine, the world's 10 most important consumer countries in 2012 are China, the United States, Japan, Russia, India, Germany, Brazil, Saudi Arabia, South Korea and the UK. Among them, the top three industrial valve markets in China, the United States and Japan were 8 billion 847 million US dollars, 8 billion 815 million US dollars and 2 billion 668 million US dollars respectively. From the regional market, East Asia, North America and Western Europe are the largest regional valve markets in the world. In 2012, the size of the industrial valve market was $15 billion 893 million, $11 billion 167 million and $8 billion 458 million, respectively.

In recent years, the demand for valves in the developing countries and the Middle East, represented by China, is growing rapidly, and the replacement of EU and North America has become a new engine for the growth of the global valve industry. According to McIlvaine's forecast, by 2015, the scale of industrial valves in Brazil, Russia, India and China ("BRIC") will reach $1 billion 789 million, $2 billion 767 million, $2 billion 860 million and $10 billion 938 million, with a total of 18 billion 354 million US dollars, up 23.35% from 2012, and the total market size accounts for the scale of the global market. The example will reach 30.45%. In recent years, the Middle East countries, as a traditional exporter of crude oil, have also extended the downstream of oil and gas industry through new petroleum refining and refining projects, which have produced a large number of demand for valve products.

The main reason for the rapid expansion of the valve market in developing countries is that the rapid growth of these countries' economy has led to the development of the downstream industries such as oil, gas, electricity, chemical and other valves, thus stimulating the demand for the valve. In 2013 and 2014, the average economic growth rate of emerging economies, such as Brazil, Russia, India and China, will reach 5% and 5.4% respectively, according to the International Monetary Fund (IMF). The average economic growth rate of the developed economies of the United States, Japan and Germany is only 1.2% and 2.1% in the same period. Compared with the developing countries represented by China, North America and the EU as the traditional market for valve products still occupy a larger market share of the global valve market, but are far lower in growth than in developing countries.

Three. The development of domestic valve industry

In -2012 in 2003, China's economy maintained a rapid growth trend in general, with an average GDP growth rate of 10.45%, and the average growth rate of fixed assets investment in the whole society was 26.11%. The domestic valve industry as a whole has maintained a sustained growth trend, and its boom is higher than the global level. After the outbreak of the global financial crisis in 2008, the domestic valve industry growth rate declined, but in 2010 it returned to a higher level of growth. According to the analysis of McIlvaine, the growth rate of China's industrial valve industry is expected to grow at about 7% from 2013 to 2015, which is far higher than the growth rate of the industrial valve industry in the world.

Four, the market demand structure of the valve industry

Valve is one of the key equipment of fluid control system, generally used in liquid or gaseous fluid control environment. Therefore, valves are widely used in various industrial segments involving fluid control. At present, the main applications of the valve include: oil and gas, electricity, chemical, tap water and sewage treatment, paper, metallurgy, pharmaceutical, food, mining, non-ferrous metal, electronics and other industries. Among them, oil, natural gas, energy, power and chemical industry is the most important application area of valves. According to the statistics of McIlvaine, the world industry valve market demand in 2012, including drilling, transportation and petrochemical, is the highest in the field of petroleum and natural gas, up to 30.03%, followed by the demand for water treatment and energy and electricity, accounting for 14.07% and 13.28% of the global industrial valve market demand respectively, and the total market demand in the top three areas accounts for the total. 57.38% of the market demand. In the application field of domestic industrial valves, energy, electricity, water treatment and steel industry are the three most important valve markets in 2012. The market demand of the valves accounts for 29.33%, 14.98% and 10.35% of the domestic industrial valve market, and the total amount is 54.66%.