Valve is widely used in all major aspects of the national economy, energy, petrochemical, metallurgy, electric power and other industries. It is one of the key equipment in the equipment of machinery, pipelines and other fixed assets. Therefore, the development of valve industry is relative with macroeconomic cycles as well as investment in fixed assets.
Since 2000, the global economy steadily recovering since the trough, according to IMF statistics, in 2001-2007 the average annual global GDP growth of 4.04 percent average, annual global investment in fixed assets grew by 3.72 percent. European industry forecast (European Industry Forecast Limited) "global valve market :2008-2013," Statistics, the compound annual growth rate of the finished valve sales revenue in the global economic up-cycle in 2002 and 2007 was 5.60%, to maintain steady growth of development.
In 2008, the financial crisis began in earnest in the United States rapidly sweeping the globe, including Europe, North America, including the major economies are affected, global GDP growth rate dropped from 5.15% in 2007 to 3.2% in 2008 and 2009 -1.32%. The rapid cooling of the global economy, investment in fixed assets of the valve downstream industry had a certain negative impact, oil and gas, power, chemical and other industries have emerged to postpone the implementation of the phenomenon of fixed assets investment projects, the sound development of steady growth in the valve industry The momentum had a negative impact. According to market research company McIlvaine, the global valve industry in 2009 revenues of $ 47.436 billion, a growth rate of only 0.56%.
The medium to long term, the main factors affecting the valve industry, the expansion of downstream industries, including the growing energy demand, the continued increase in global population and urbanization in developing countries, the process of industrialization and did not change fundamentally the result of the financial crisis. The world's major economies have entered the economic recovery cycle (according to IMF statistics and forecasts, 2010 and 2011 global economic growth have resumed their growth, the growth rates were 5.2% and 3.8% in 2012 - 2013 global economic growth rate is expected to remain above 3%). Valve industry since 2010, began to recover, according to a the McIlvaine survey and forecast data, 2010 and 2011, global valve industry revenues were $ 49,230,000,000 and $ 51,066,000,000, the growth rate back to 3.78% and 3.73% 2012 -2015 global valve industry expected sales growth will reach 4.16% and 3.93%, 3.94% and 4.18%, showing a steady upward growth.