Worldwide revenues for industrial valves are slated to rise to $56 billion in 2012, up from $47 billion in 2008, with the automatic regulatory and control segment capturing the largest market share, according to a report by McIlvaine Company (www.mcilvainecompany.com). The report, titled Industrial Valves World Markets, predicts the United States will remain the top purchaser of industrial valves through 2012, with China following close behind.
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McIlvaine says industrial valve sales will be lower in advanced countries in 2009 than they were in 2008, with modest growth expected in developing countries. However, sales are forecast to increase substantially in the 2010-2012 period due to infrastructure growth in Asia, investments in renewable energies and biofuels, conversion of coal to liquids, population growth, urbanization in developing countries and other factors.
The construction of new municipal wastewater treatment plants in Asia and desalination investment in many countries is also expected to help boost the market.