Manufacturing & The Economy
Process manufacturing will post strong gains in industrial valve market demand, driven by growing output, especially in the chemical industry. New research from The Freedonia Group predicts that rising standards of living will boost capacity in process manufacturing in developing regions. In addition, the need for more efficient manufacturing operations in developed nations will spur investment in new equipment, benefiting valves. Advances in valve demand in the water infrastructure market will result from two key factors: in developing nations, access to water supply and sanitation will be increased; in developed nations, aging water infrastructure will need repair and upgrade. Industrial valves’ demand in the oil and gas market will benefit from increased oil and gas production, which will require additional investment in pipeline infrastructure.