1. Oil and gas industry
In North America and some developed countries, there are many oil projects to be built and expanded. In addition, because people pay more and more attention to environmental protection and the country has established environmental protection laws and regulations, the refineries established many years ago must be rebuilt. Therefore, in the next few years, the investment in oil development and refining will maintain the growth momentum. The construction of long-distance oil and gas pipelines in China and Russia in the future will directly promote the growth of the valve market in the oil industry.
2. Energy industry
For a long time, the demand for valves in the energy industry has maintained a solid and stable growth rate. The total power generation capacity of thermal power plants and nuclear power plants built in the world is 2679030mw, that of the United States is 743391mw, and that of other countries is 780000mw, which will increase by 40% in the next few years. The energy market in Europe, South America, Asia, especially China will become a new growth point of valve market.
3. Chemical industry
The chemical industry ranks first in the industry with an output value of more than $1.5 trillion, and it is also one of the largest demand markets for valves. Chemical industry mostly needs industrial valves with mature design, high processing quality and rare materials.