Despite reports of a slowdown in China and its central government’s deliberate plan to consolidate heavy industries, the country is still experiencing relatively robust industrialization growth compared with more mature countries and markets in the West. China’s growth will continue to be led by the petroleum and coal products industry.
According to a McIlvaine Co. brief, China will add 45,000 MW/yr of new coal-fired power plants over the next five years. That will give rise to the country’s power-industry on/off and control valve purchases to more than $2.8 billion. Along that vein, oil and gas and refining valve purchases by China will approach $900 million.
On/off valves for China’s power industry will be the country’s biggest industrial valve segment. Control valves for the power industry, meanwhile, will be the third-largest segment, just behind on/off valves for the nation’s iron and steel industry.
McIlvaine Co. predicts China’s total industrial valve purchases in 2014 will surpass $10 billion for the first time.
For more, see the research firm’s report on worldwide industrial valves.