Valves are devices that control fluid flow, pressure and direction of flow by changing the size of its flow path area, is a control component in the fluid transfer system, its role includes the role of opening and closing, regulating role, throttling role, etc.. Based on our standards in accordance with the drive mode, role and structural characteristics, general valves are divided into eleven categories. Driven valves mainly include cut-off valves and regulating valves; automatic valves mainly include check valves, safety valves, diverter valves and regulating valves.
Valve is an important mechanical infrastructure, the industry upstream for castings, forgings, seals and other industrial raw materials, in a fully competitive state, downstream widely used in oil and gas, chemical, electric power, water and sewage treatment, paper, metallurgy, pharmaceutical, food, extraction, non-ferrous metals, electronics and other industries.
From the production situation, the overall output of China's valve industry is in a downward trend. According to the China General Machinery Association Valve Branch data show that in 2020, China's valve production of 5,715,400 tons, down 12.27% year-on-year.
In terms of market size, benefiting from industrial development, urban construction and global economic integration, China's valve industry has been developing rapidly. According to statistics, the market size of China's valves in 2020 is 19.86 billion yuan, an increase of 15.00% year-on-year.
"Other valves" customs code "84818040". From the perspective of import and export quantities, China's exports are about ten times the number of imports. According to statistics, in 2021, China's other valve imports of 213 million sets, the number of exports of 2.06 billion sets. From the import and export amount, according to statistics, in 2021, China's other valve imports amounted to 2.607 billion U.S. dollars, exports amounted to 6.957 billion U.S. dollars.
From the distribution of import and export regions, China's main import regions are Switzerland, the United States and South Korea, and the main export regions are the United States, Russia and India. Due to the lack of production technology of Chinese valves, China relies more on imports of foreign products in terms of high-performance valves, while the domestic low-performance valves have excess capacity and are exported in large quantities to the country.
From the domestic market, China's valve manufacturing industry concentration is low, the domestic leading enterprises and international giant enterprises compared to the volume is still small, the market pattern is more fragmented, the industry concentration CR3 less than 5%, the domestic valve manufacturing enterprises of large scale listed companies mainly include New Wave shares, Jiangsu Shentong, China Nuclear Science and Technology, etc.. Among them, the largest volume of New Wave shares market share of only 1.96%.
As China's economy continues to run smoothly, industrialization is getting higher and higher, the demand for high-performance valves is growing. Part of the oil and gas industry, chemical industry and power generation industry and other industrial fields have high requirements for the performance of industrial valves. In the past, due to the lack of Chinese valve production technology, China relies more on imports of foreign products in high-performance valves. In the future, with the strengthening of China's industrial valve enterprises R & D capabilities and technological advances, China's high-performance valve products will increase the localization rate.
