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Posted On: 07/16/2008

Control valve market to exceed $6 billion

PlantServices.com

The worldwide control valve market enjoyed yet another year of historic double-digit growth between 2006 and 2007. Strong revenue growth is expected to continue at a compounded annual growth rate (CAGR) of 6% over the next five years. The market reached $4.8 billion in 2007 and is forecasted to exceed $6.4 billion in 2012, according to a new ARC Advisory Group study.

Does 2007 represent the peak year for growth in the market? It was too early to tell halfway through the year, but indications show that growth could once again approach historic levels in 2008, with many of the leading control valve suppliers experiencing strong backlog with no slowdown in sight. "Control valve suppliers continued to post strong revenue growth in the first quarter of 2008. Though the North American and European markets have slowed somewhat, suppliers are relatively immune, thanks to increased demand in developing markets, such as China, India and the Middle East, which provided strong project activity, particularly in the oil and gas sector," says Senior Analyst David Clayton, the principal author of ARC’s "Control Valve Worldwide Outlook."

For more information, visit www.arcweb.com.