Since China’s reform and opening-up, China’s valve industry has fast developed to be the largest manufacturer in the globe. In 2012, the output volume of valves in China reached 7.213 million tons. The CAGR of the output volume in 2002-2012 is 25.2%. In 2012, the gross output value of the industry exceeded CNY 210 billion. In 2012, there are over 1500 state-owned valve enterprises with annual sales revenue of CNY 20 million (about $3.2 million). In addition, there are thousands of small-scale enterprises and household workshops.
Currently, about 50% of global valve parts are purchased from China, according to RnR Market Research. China is also the world's largest exporter of valves.