The oil and gas industry will spend over $10 billion for valves in 2014, with 85 percent of this total going to on/off valves and 15 percent to control valves, according to the report Industrial Valves: World Markets by McIlvaine Company.

Revenues $ Millions

Subject

2014

 Total

 10,000

 Ball*

 3,081

 Butterfly

 657

 Check

 438

 Gate*

 1,818

 Globe

 1,223

 Industrial Plug*

 2,048

 Other

 558

 Safety Relief

 177

* Ball valves will account for 30 percent of the total, while industrial plug valves will account for 20 percent. Gate valves will account for 18 percent of the total.

Oil & Gas

 Control

 1,462

 Oil & Gas

 On/Off

 8,538

The report says control valve sales will be just under $1.5 billion, whereas on/off valve sales will exceed $8.5 billion. One of the big growth areas is unconventional oil and gas. This includes shale reserves, coal bed methane, and offshore extraction. 

The LNG market is growing again after receding a few years ago, the report says, as there are a few large gas-to-liquids plants in planning and construction in the United States. Each of these plants will spend $50 million or more for valves. 

The report says that since the unconventional resources are in new locations, the market for valves for transmission is also growing. The United States is presently the fastest growing market as the country moves from a major importer to a net exporter.