NR1882

NEWS RELEASE                                                                                                    DECEMBER 2013

Oil and Gas Industry to Spend $10 Billion for Valves Next Year

The oil and gas industry will spend over $10 billion for valves in 2014.   Eighty-five percent of this total will be for on/off valves and 15 percent for control valves. This is the conclusion reached by the McIlvaine Company in its continually updated Industrial Valves: World Markets.

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  

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. There are a few large gas-to-liquids plants in planning and construction in the U.S. Each of these plants will spend $50 million or more dollars for valves.

Since the unconventional resources are in new locations, the market for valves for transmission is also growing. The U.S. is presently the fastest growing market as the country moves from a major importer to a net exporter.

For more information on Industrial Valves: World Markets, click on: http://home.mcilvainecompany.com/index.php/markets/2-uncategorised/115-n028