A recent report by The McIlvaine Company has predicted that the often fluctuating choke valve market is set to bounce back. The market ranges between $250 million and $400 million per year depending on the definition and where we are in the oil and gas cycle. A significant portion of choke valve sales are to oil and gas companies. So, in the present depressed oil price market, we are in the lower range of sales. The definition also has a major effect on the revenue determination. The terms choke, control and axial are used in different ways. With some definitions the market is much larger than with others. Here are some ways the term is defined:
• Flow path: Angle most important – if it is axial it is control, if it is angle it is choke.
• Trim: If one type of trim is used it is most suitable for choke, if another it is for control.
• Location: If it is extraction it is choke, if it is other applications it is control.
• Valve type: For some valve suppliers “choke” is just one of a number of applications and not a type of valve.