Valve Market Will Grow 5.5% Per Year, Study Says

As world economies improve, the global market for valves will grow, exceeding US$60 billion by 2007, according to a study by The Freedonia Group Inc., Cleveland. The researchers expect 5.5% growth per year, fueled by increasing demand in valve-consuming industries, such as energy production. According to the study, "World Valves," mature valve markets such as the United States, Japan and Western Europe will lag growth in developing markets, but growth in the mature markets will exceed growth in the period 1997 to 2002.