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WORLD demand for industrial valves is expected to increase 5.4 per cent per year toreach $93.5 billion in 2015, says a new forecast. Gains will be driven by continuing robust growth in the Asia-Pacific region, as well as strong recovery in the US and West European markets.
In the developing world, especially in China and India, valve suppliers will gain from rising urbanisation. Additionally, valve demand growth in the US will outpace
the global average through 2015 due to recovery in the domestic economy. In Japan and Western Europe, valve demand will also recover from recent declines, but advances will continue to considerably lag the world average through 2015.
According to the study, the oil and gas industry will see strong growth in valve demand, with increasing offshore, shale and tar sand related exploration activities helping boost sales of higher-end products.

Among the countries that will record robust increases in the unconventional oil and gas sector are Brazil, Canada, Nigeria and the US.Weakness in the nuclear power generation sector will be offset by increasing valve sales to coal-fired and combined cycle natural gas power plants.

Another trend highlighted in the study is that the global market for automatic valves will outpace that for conventional valves, due to the continuing efforts of process manufacturers to improve operational efficiencies.

The strongest gains will be registered in sales of separately sold automatic actuators,which are used together with standard valves to allow for automated valve functions,
and are less expensive than automatic control and regulator valves with actuators pre-installed.
Nevertheless, conventional valves will account for 54 per cent of world valve demand in 2015, with suppliers benefiting from the lower cost of these products relative to highly engineered automatic valves, the report says.