Valves in oil,gas market will reach nearly $10 Billion in 2014

The oil and gas industry will spend just under $10 billion globally for valves next year according to McIlvaine Co.’s Valves: World Markets report.

The largest purchases will be ball valves, which will account for 30% of all valve spend, at just above $3 billion. Gate valves will account for $1.8 billion of the revenues. The rest of the global market consists of globe valves ($1.2 billion), followed by butterfly valves, check valves, and safety relief valves.

The total investment for a 200,000 cu-ft/day gas processing plant would be $150 million and would require an expenditure of $5 million for valves. Twenty percent would be for control and 80% would be for on/off.

An LNG liquefaction plant can cost $8.3 billion. The valve portion would be 1%, or $83 million. There are a number of liquefaction projects underway in the U.S. due to the abundance of shale gas..