Introduction and economic overview

This chapter presents a study of the valve industry and reviews its markets, technological trends, and major manufacturers on a worldwide basis. This study was conducted by using a combination of personal and telephone interviews with key manufacturers on a worldwide basis, scientific and technical literature searches, and a detailed analysis of international production and trade statistics. An industry overview of the structure of the industry and future trends and a detailed overview of merger and acquisition activities in the valve industry since the fourth quarter of 2000 are presented. A brief economic and industry overview of the world's major countries and geographic regions, and market size estimates for the year 2003, along with forecasts from 2004 to 2009 are also presented in this chapter.