The Analysis of Chinese Oil and Gas Industry
To reduce the reliance on coal and cope with air pollution, China is planning to develop cleaner energy supplies. Natural gas is expected to play a key role in the years to follow because of its low price and low emissions. Increasing demand for natural gas provides an impetus to the construction of gas pipeline-related projects in China.
Many pipeline projects have been implemented by the Chinese government to transfer oil and natural gas from resource-rich provinces and countries to other provinces; primarily, focus lies on connecting the Eastern markets with the Western resource-rich provinces to ensure supportable and sustainable development. This is expected to boost the industrial valves market in the oil and gas industry.
Industrial valves face unique and extremely adverse conditions in the oil and gas division, such as temperatures greater than 1,500 F and pressure higher than 25,000 psig, or cryogenic requirements and very low pressure.
According to Frost & Sullivan analysis, the oil and gas industry is the largest industry and accounted for 26.5% of the Chinese industrial valves and actuators market in 2013 because of heavy investments in the upstream, midstream and downstream segments. The oil and gas industry is expected to have a CAGR of 9.7% from 2013 to 2020, which shows a relatively high growth rate among other industries in China.
Many pipeline projects have been implemented by the Chinese government to transfer oil and natural gas from resource-rich provinces and countries to other provinces; primarily, focus lies on connecting the Eastern markets with the Western resource-rich provinces to ensure supportable and sustainable development. This is expected to boost the industrial valves market in the oil and gas industry.
Industrial valves face unique and extremely adverse conditions in the oil and gas division, such as temperatures greater than 1,500 F and pressure higher than 25,000 psig, or cryogenic requirements and very low pressure.
According to Frost & Sullivan analysis, the oil and gas industry is the largest industry and accounted for 26.5% of the Chinese industrial valves and actuators market in 2013 because of heavy investments in the upstream, midstream and downstream segments. The oil and gas industry is expected to have a CAGR of 9.7% from 2013 to 2020, which shows a relatively high growth rate among other industries in China.
