Foreign valve suppliers in China will experience more head-on challenges from their domestic competitors in the near future.
This article is based on a GCiS multi-client report: China Oil and Petrochemical Valves Market Research Report.
Other than specialty areas where they are irreplaceable, multinational companies’ advantages in China’s market for some engineering products such as parts, components, machinery and equipment have become dimmer over the last few years. Products such as valves are no exception. Recent GCiS research finds that, despite recent growth in demand from oil and petrochemical industry in China, foreign suppliers will experience more head-on challenges from their domestic competitors.