ECOWAS: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in ECOWAS

The ECOWAS pressure-reducing iron valve market skyrocketed to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption posted a significant increase. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Pressure-Reducing Iron Valve Production in ECOWAS

In value terms, pressure-reducing iron valve production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production saw prominent growth. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports in ECOWAS

In 2022, exports of pressure-reducing, control, check and safety valves in ECOWAS soared to X units, rising by X% compared with the previous year. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports soared to $X in 2022. In general, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X units) represented the main exporter of pressure-reducing, control, check and safety valves, creating X% of total exports. It was distantly followed by Cote d'Ivoire (X units), creating a X% share of total exports. Ghana (X units) took a minor share of total exports.

Nigeria was also the fastest-growing in terms of the pressure-reducing, control, check and safety valves exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. While the share of Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) emerged as the largest pressure-reducing iron valve supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

In Nigeria, pressure-reducing iron valve exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, jumping by X% against the previous year. In general, the export price, however, saw a abrupt setback. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the export price figures.

Pressure-Reducing Iron Valve Imports

Imports in ECOWAS

In 2022, pressure-reducing iron valve imports in ECOWAS surged to X units, increasing by X% on the previous year. In general, imports saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, pressure-reducing iron valve imports soared to $X in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of pressure-reducing iron valve imports in 2022 were Nigeria (X units), together recording X% of total import.

Nigeria was also the fastest-growing in terms of the pressure-reducing, control, check and safety valves imports, with a CAGR of X% from 2012 to 2022. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported pressure-reducing, control, check and safety valves in ECOWAS.

In Nigeria, pressure-reducing iron valve imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, falling by X% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Source: IndexBox Platform

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