Young have had an impressive start to the season and Davies reckons he is the best winger in the Premier League at the moment.
He said: “Would I swap Ashley for any other winger? Not at the moment.
“You can talk about people like Ronaldo but, the way Ashley plays with a right foot and a left foot, I don’t think anyone can cope with it.
“He can actually take it down with his left foot and whip in a ball. He is looking good.”
Davies added: “How good is Ashley Young? He is one of the best players.
“Here we have got some good players but he is our most important. He is the one that is going to make something happen.
“He is only lightweight but when he gets on the ball he never looks like he is going to get pushed off it and lose it.
“If we didn’t have him, we would be a different team. He means that much to us.
“It is crucial that he signs a new deal.
“We’ve managed to get a good core of young English players together and, if we can get Ashley to sign on for another few years, it is going to be a massive boost.”