Western Africa: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Western Africa

The West African pressure-reducing iron valve market soared to $X in 2022, with an increase of X% against the previous year. Overall, consumption recorded significant growth. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Pressure-Reducing Iron Valve Production in Western Africa

In value terms, pressure-reducing iron valve production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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Pressure-Reducing Iron Valve Exports

Exports in Western Africa

In 2022, approx. X units of pressure-reducing, control, check and safety valves were exported in Western Africa; increasing by X% on the previous year. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, pressure-reducing iron valve exports surged to $X in 2022. In general, exports posted a buoyant increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained 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 major exporter of pressure-reducing, control, check and safety valves, making up X% of total exports. It was distantly followed by Cote d'Ivoire (X units), constituting a X% share of total exports. Ghana (X units) followed a long way behind the leaders.

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. From 2012 to 2022, the share of Nigeria increased by X percentage points.

In value terms, Nigeria ($X) emerged as the largest pressure-reducing iron valve supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($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 Western Africa stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a deep setback. The pace of growth was the most pronounced in 2018 when the export price increased by X%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Western Africa

Pressure-reducing iron valve imports surged to X units in 2022, with an increase of X% compared with 2021. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

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

Imports by Country

In 2022, Nigeria (X units) represented the main importer of pressure-reducing, control, check and safety valves in Western Africa, making up 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 Western Africa.

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 Western Africa amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat 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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