More than half of the world's valves are made in China
China is the world's largest manufacturer of valves, but its profits are only 10%-20% of foreign products. Yesterday, Song Yinli, Secretary General of China Valve Association, gave a forward-looking seminar for Wenzhou's main valve entrepreneurs. "China is the world's largest valve manufacturing country, producing more than 50% of the world's valves, but its competitiveness in the mid- to high-end market is not strong. In terms of price, foreign products are often 5 to 10 times that of similar domestic products." Song Yinli said Last year, China imported more than 10 billion yuan in valves, half of which were profits. The domestic enterprises' main business income last year was more than 240 billion yuan, and the profit was only 17 billion yuan. “Chinese valve companies must innovate and develop new products, especially high-end products.”
Song Yinli said that although domestic enterprises have made some breakthroughs in the localization of high-end and high-end categories, the overall number is far from enough. If they can gradually “replace imports”, the market potential is still very large. For example, a set of LNG equipment requires more than 1,300 valves, of which more than 1,000 are ball valves. However, the production of ball valves has not yet been localized, and most of them still rely on imports. “Next, we will promote Wenzhou to become a display window for high-end valve products.” Chen Dean, president of Zhejiang Valve Association, said that Wenzhou has geographical advantages, and some valve companies have already been quite competitive in the mid-to-high-end products market, and Many Wenzhou sales elites hope to return to the roots and create a situation in their hometown.
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