The world market for industrial valves will reach approximately US$56 billion by 2012 according to Industrial Valves: World Market, an online report by the McIlvaine Company. Compared to 2007 estimates of US$45 billion, this figure represents worldwide growth just short of 25% over the next five years.
Asia has been showing extremely high growth rates for industrial valve revenues and the report suggests that by 2012 the industrial valve market in Asia will grow by 32%, reaching US $21.6 billion compared to US$16.3 million in 2007. By contrast, 15% growth over the same time period has been forecast for the Americas. McIlvaine predicts that automatic regulation and control valves will continue to comprise the largest market share.