MARKET REPORT
Africa and Asia Will Transform the Valve Market
Low-cost manufacturing countries of the world will be utilizing an increasing percentage of the world ’ s valves . Traditional manufacturers are challenged by the low selling prices and lack of access . This lack of access is mostly due to the inattention of the large valve suppliers . But as these countries use a larger percentage of the world ’ s valves , it is desirable to address the increasing market share rather than neglect these markets .
By Robert McIlvaine , CEO – McIlvaine Company
The Influence of Population and GDP on Valve Demand
Population and GDP are two of the best indicators of future valve demand . The population of Asia is now 4.81 billion and will increase to 5.05 billion by 2035 . The population of Africa is now 1.53 billion but will increase to 1.89 billion by 2035 . At that time , it is estimated that these two areas will have 78 % of the world ’ s population .
As of today , no African countries are officially classified as “ developed ” according to global economic and human development metrics like those used by the United Nations ( UN ), World Bank , or International Monetary Fund ( IMF ). African nations are generally considered “ developing countries ” due to challenges such as lower income levels , less industrialization , and human development index ( HDI ) scores that are typically below those of developed nations . South Africa is closer to being a developed country
than its neighbors as it has abundant natural resources and is a leader in the mining of certain minerals . It rose to prominence by creating its gasoline from indigenous coal reserves . Due to tourism , Seychelle and Mauritius are also close to developed , but not industrial maturity . In Asia : Japan , South Korea , Singapore , Hong Kong , Taiwan , and Israel are considered developed countries .
In these countries , there is also a problem with providing service due to the lack of local personnel and higher hourly rates . This aspect will change steadily as remote monitoring allows remote personnel to operate very effectively and avoid travel expenses . Performance monitoring allows replacement valve needs to be predicted well in advance and eliminate the need for local stocking . Also , the performance monitoring allows the distant supplier to better understand the local needs and provide valves which deliver the lowest total cost of ownership despite higher first cost .
For valve manufacturers these developing markets not only promise large revenues in the future but technological advancements of general value . With remote O & M , every valve operation will instantly be accessible . Instead of being a handicap , the lack of skilled workforce will cause these locations to lead in Automaton , Remote Maintenance and Operation ( AROM ).
Some of the fastest-growing economies in Asia include India , Bangladesh , Vietnam , Philippines , Myanmar , Cambodia , and Laos . India continues to show robust
ASIA
Developed Countries
Developing Countries
GDP in Billions
Population
GDP Growth Percentage
Population Growth Percentage
8,090 221,318,910 14.2 % 2.2 %
34,102 4,730,399,519 20.8 % 6.8 %
Here is the population and GDP split between developed and developing countries for Asia .
8 Valve World Americas | February 2025 • www . valve-world-americas . net