From 2003 to 2009, China’s valve industry experienced a period of rapid growth, with a CAGR of 33.5%. But in recent years, affected by economic crisis, the valve market demand started to slow down from 2010 onwards, and China’s valve output growth rate fell accordingly, down to 8.9% till May, 2013.
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In point of market competition pattern, China’s valve production features a high degree of regional concentration, mainly in Zhejiang, Henan, Jiangsu, Liaoning, Fujian and other provinces and cities. In 2012, output from the top five provinces accounted for 74% of the total. However, due to the small scale and weak financial strength of domestic valve companies, the market concentration is lower than other countries.
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Since 2009, China has ranked first worldwide in valve export scale. In 2012, the export volume gradually converged in large companies, with export products showing diversification; the top few export destinations remained basically unchanged from the previous years. With respect to imports, most of imported valves in China are high-end and high-priced products. But with the increasing R&D investment and market development efforts, Chinese valve companies are stepping into the high-end valve market.
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