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Valves are an important component of large-scale complete equipment, mainly used for cutting off, throttling, regulating pressure, and changing flow direction of pipeline media (materials, water, steam, air, oil, etc.).

Valves have a wide variety of specifications, wide applications, and large quantities, and can be divided into industrial valves and civilian valves. Industrial valves are mainly used to regulate process parameters such as medium flow rate, pressure, temperature, and liquid level in the field of industrial automation process control.

In the global industrial valve market demand, the oil and gas sector, including drilling, transportation, and petrochemicals, has the highest proportion, followed by the demand for energy, electricity, and chemical industries. In the application fields of domestic industrial valves, the chemical, energy and power, and oil and natural gas industries are also the main markets for valve sales. In the coming years, with the rapid development of China's economy and the improvement of industrial automation, the transformation and upgrading of China's equipment manufacturing industry, as well as the continuous growth of national investment in oil and gas, petrochemicals, environmental protection, electricity, metallurgy and other fields, the scale of China's industrial valve market will maintain rapid growth.

At present, China's backbone valve production enterprises are able to design and manufacture various valves in accordance with international standards such as ISO international standards, DIN German standards, AWWA American standards, etc. Some manufacturers have achieved international advanced levels in their products, and the overall level of the valve industry has greatly improved. Some products have also entered overseas markets. However, compared with foreign products, the valve industry market in China is fiercely competitive. Currently, the scale of enterprises in the market is relatively small, with more than 90% of them being small and medium-sized enterprises. Most of the enterprises have outdated technological levels and are mainly concentrated in the low-end market. This leads to insufficient competitiveness of our valve products in the international market and a lack of research and development for mid to high end products.

In the past two years, due to the impact of international trade frictions, the international demand for valve products in China has declined, and international trade has faced certain challenges. According to customs data, the export value of China's valve industry showed a fluctuating upward trend from 2017 to 2019, reaching 16.624 billion US dollars in 2018, a year-on-year increase of 13.5%; In 2019, the total export value of China's valve industry declined to 16.231 billion US dollars, a year-on-year decrease of 0.02%. In this context, Chinese valve enterprises should improve their product technology and quality, increase their research and development technology for high-end products, catch up with international standards as soon as possible, and enhance their international competitiveness.

Experts point out that eligible enterprises need to accelerate industrial upgrading and move towards the field of mid to high end valve products, such as in key national development areas such as oil and nuclear power. The market potential for domestic substitution of imported valves cannot be ignored. Currently, the economic situation and various policies in China are continuously improving, providing extremely favorable development factors for the valve industry in our country. Although there is still a certain gap between our country's valves and foreign countries, the key for our valve enterprises is to further improve product quality and technological content. Only by solidifying the foundation and relentlessly exploring innovation can our valve brands become well-known overseas and gain more market share.