The global valve market is mainly concentrated in economically and industrially developed countries and regions. According to McIlvine's survey and forecast data, the top 10 most important single valve consumer countries in the world in 2014 were China, the United States, Japan, Russia, India, Germany, Brazil, Saudi Arabia, South Korea, and the United Kingdom. Among them, the top three industrial valve markets in China, the United States, and Japan have a market size of 8.847 billion US dollars, 8.815 billion US dollars, and 2.668 billion US dollars, respectively. From a regional market perspective, East Asia, North America, and Western Europe are currently the world's largest regional valve markets. In recent years, demand for valves in developing countries represented by China and the Middle East has rapidly increased, replacing the European Union and North America as the new engines of global valve industry growth.
By 2015, the industrial valve markets in Brazil, Russia, India, and China (the BRICS countries) will reach $1.789 billion, $2.767 billion, $2.86 billion, and $10.938 billion, respectively, totaling $18.354 billion, an increase of 23.35% compared to 2012. The total market size will account for 30.45% of the global market size. Middle Eastern countries, as traditional crude oil exporting countries, have also been extending downstream to the oil and gas industry through new oil refining projects in recent years, which has led to a large demand for valve products.
The main reason for the rapid expansion of valve markets in developing countries is that the rapid growth of their total economic output has driven the development of downstream industries such as oil and gas, electricity, and chemicals, thereby stimulating demand for related valves.