Almost three-quarters of the cost is expended on maintenance, major overhauls and repairs, which offers a huge opportunity for cost reduction. Life cycle cost analysis shows the initial purchase price represents around 20% of a valve's total cradle-to-grave cost. A 250,000 bpd refinery might have as many as 2500 of them installed in its pipes and vessels. The global control valve market is seeing unprecedented growth as a result of new greenfield plants in developing countries and current high investment in oil and gas exploration and production. Engineering design relies on a host of mechanical devices to enable the transportation of product to take place under controlled conditions and valves are at the heart of it. Valves are one of the most fundamental components in any process plant. Publisher: Elsevier Science & Technology Books.Handbook of Valves and Actuators: Valves Manual International
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