Opportunity for valve innovations: Despite economic downturn, opportunities abound for control valve innovation

摘要

The control valve industry, being closely aligned with process control instrumentation, suffers similarly from the current recession. This drastic decrease in order came as a severe blow, following the hay-days in 2008 after the oil boom. Unfortunately, the future outlook is still bleak. The prospect of future high oil prices is expected to materialize only at the end of the current recession. Even then, spending is only expected on the production (upstream) side with refinery construction tabled due to lower gasoline demand and use of smaller cars. This somber assessment is reflected in the last survey statistic published by Valve Magazine, where at the end of 2009, only 13percent predicted an increase in business among their members, while 56percent expected a decrease in shipments during 2010.