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Global Valve Industry Dominated by China

Date:12-12-2013

With China’s economic reforms in 1978, many industries witnessed rapid growth and development. The Chinese valve manufacturing industry is no different and currently China is the largest manufacturer of valves in the world. China is also the largest exporter of valves and around 50% of valve parts in the world are purchased from China. Exports in China are fueled by the increase in global purchase of petroleum equipment. Petrochemical valves, metallurgy valves, air conditioning valves and nuclear power valves are the main market segments. The output volume of valves in China was 7213 million tons in 2012. The gross output value of the valve market was more than 210 billion yuan in the same year.

Market Overview
Both large scale and small-scale enterprises are present in the market. State-owned valve manufacturers are doing very good business in the market and there are over 1500 of such state-owned enterprises. In 2012, these enterprises had annual sales revenue of 20 million yuan. The government funds licenses for exports to these manufacturers which in turn helps these enterprises to flourish in the industry. Lower price and delivery advantage are two of the major factors that are attributed to the growth of export of Chinese valves in the overseas market. The comparatively lower costs of Chinese valves are attracting foreign buyers. Additionally, the delivery duration or Chinese valves is much less than that of European counterparts.

Challenges in the Market
The biggest problem that the Chinese valve manufacturing industry faces is that the valves manufactured in China are in the low-end level. The technological level of Chinese valve manufacturers is not at par with foreign and global counterparts. Domestic valve manufacturers in the country are lacking in core technological know-how and independent intellectual property rights. This is hindering the industry from competing in the high-end valve market. To compete in the global market, Chinese manufacturers need to produce high quality products.

Some of the key companies in the valve manufacturing market in China are Sufa Technology Industry Co. Ltd., Zhejiang Sanhua Co. Ltd., Zhengzhou City ZD Valve Co. Ltd., Hubei Hongcheng General Machinery Co. Ltd., China Valves Technology Inc., Zhejiang Petrochemical Valve Co. Ltd. and Jiangsu Shentong Valve Co. Ltd. With greater investment in research and development and development in the market, Chinese valve manufacturers are gradually stepping into the high-end valve market.

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