This Is An Industry Report On Valves. The Report Talks About The Product Definitions And Analyzes The Market With Porter's 5 Forces.

686 words - 3 pages

VALVESProduct Definition and UsesA valve is a device used to regulate and control the flow of a fluid usually a gas or liquid. The valve controls the flow by opening, closing, or partially obstructing various pathways. The most common industries where valves are used are oil and gas, power generation, mining, water reticulation, sewerage, and chemical manufacturing. Most of the valves in the oil and gas industry are standardized although there are exceptions. Typical industrial valves include ball valves, butterfly valves, check valves, gate valves, and globe valves. Each valve is distinguished by their features most commonly by type, size, and materials. Valves can be operated manually by hand or with an external input such as an actuator. An actuator will stroke the valve based on its input and position the valve to the desired manner to control the fluid or gas.Data and Industry AnalysisHistorically, the valve industry has prospered with rising demand for oil. The industry has enjoyed product development over the industry’s history. The industry enjoyed a revenue growth rate of 8.1% in 1988 and 19.7% in 1993. The industry revenue was approximately $17.3 billion in 1988 and grew to over $22 billion in 1993 (see Table 1). The first large scale production of valves occurred in 1842 and efficiency and product development have been focused on since then. Computers and computer aided design have greatly contributed to the designing process which improved productivity and quality.Table 1. Historical Industry Revenue and Growth RatesYearRevenue ($ Million)Growth %198817309.58.1198918037.24.2199018202.20.9199117672.6-2.9199218380.94.0199322006.519.7199423948.98.8199525454.16.3199627032.66.2199728719.96.2199830078.44.7199927705.3-7.9200026631.6-3.9200126478.9-0.6200125808.5-2.5Many factors have contributed to the valve industry revenue increase annual rate of 0.2% including falling global commodity prices, record prices for oil, and increased global drilling and transmission. The economic slowdown has also caused delays and cancellations of many projects from oil and gas companies. As expected, the recent recession has affected the amount of money spent on industry valves. The industry suffered a revenue decline rate of 7.7% in 2008 and 7.2% in 2009. This is reflected in a decline of industry revenue of...

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