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.
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. This is according to the Global and China Valve Industry Report, 2012-2015.