The choke valve market ranges between USD $250 million and USD $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.
According to a recent report, N028 Industrial Valves: World Market, the McIlvaine Company is pursuing refinements to its choke valve forecasts. At the same time, a Decision Guide on choke valves is being updated. This guide is displayed at: Choke Valve Decision Guide.
Some additional information not yet posted to the Guide includes the Severn globe and angle control valves where “choke” is an application and not a valve type. Ross Waters of CGIS has guided us to the API Composite list which is updated daily. It lists suppliers authorized to use the API Monogram on API Specification 6 A products for well head and Christmas Tree products. The highest specification level is 4.