Global Pressure-Reducing Iron Valve Market 2023

Pressure-Reducing Iron Valve Market Size

For the fifth consecutive year, the global pressure-reducing iron valve market recorded growth in sales value, which increased by 0.3% to $X in 2021. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2021 and is expected to retain growth in the immediate term.

Pressure-Reducing Iron Valve Production

In value terms, pressure-reducing iron valve production surged to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 99% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, global production growth remained at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports

In 2021, the amount of pressure-reducing, control, check and safety valves exported worldwide surged to X units, increasing by 30% compared with 2020. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, pressure-reducing iron valve exports surged to $X in 2021. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The global exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X units) represented the main exporter of pressure-reducing, control, check and safety valves, generating 28% of total exports. Mexico (X units) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Italy (12%) and Germany (6.9%). The following exporters - India (X units), Denmark (X units), Hungary (X units), South Korea (X units), Japan (X units), Taiwan (Chinese) (X units), Turkey (X units), Malaysia (X units) and the United States (X units) - together made up 22% of total exports.

Exports from China increased at an average annual rate of +10.1% from 2012 to 2021. At the same time, Taiwan (Chinese) (+26.0%), Mexico (+10.0%), India (+9.9%), Turkey (+8.5%), Hungary (+7.5%), Malaysia (+4.3%), Germany (+4.1%) and Italy (+1.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.0% from 2012-2021. Denmark and Japan experienced a relatively flat trend pattern. By contrast, South Korea (-7.3%) and the United States (-16.1%) illustrated a downward trend over the same period. China (+13 p.p.), Mexico (+5.6 p.p.), Taiwan (Chinese) (+1.9 p.p.) and India (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while South Korea and the United States saw its share reduced by -3.7% and -8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pressure-reducing iron valve supplying countries worldwide were Germany ($X), China ($X) and the United States ($X), together accounting for 39% of global exports. These countries were followed by Italy, Mexico, Japan, South Korea, Denmark, Hungary, India, Taiwan (Chinese), Turkey and Malaysia, which together accounted for a further 34%.

Taiwan (Chinese), with a CAGR of +23.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average pressure-reducing iron valve export price amounted to $X per unit, waning by -9.3% against the previous year. Overall, the export price showed a mild curtailment. The pace of growth was the most pronounced in 2016 when the average export price increased by 6.3%. The global export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+17.7%), while the other global leaders experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports

Global pressure-reducing iron valve imports expanded slightly to X units in 2021, surging by 4.9% on 2020 figures. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 48%. Over the period under review, global imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, pressure-reducing iron valve imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Nigeria (X units) was the largest importer of pressure-reducing, control, check and safety valves, committing 38% of total imports. It was distantly followed by the United States (X units), constituting a 16% share of total imports. China (X units), the UK (X units), Germany (X units), Spain (X units) and Russia (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 imports, with a CAGR of +63.9% from 2012 to 2021. At the same time, the United States (+10.4%), the UK (+8.0%), Germany (+5.6%), Russia (+4.9%), Spain (+4.5%) and China (+4.0%) displayed positive paces of growth. From 2012 to 2021, the share of Nigeria and the United States increased by +37 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pressure-reducing iron valve importing markets worldwide were the United States ($X), China ($X) and Germany ($X), with a combined 30% share of global imports. Nigeria, the UK, Russia and Spain lagged somewhat behind, together comprising a further 11%.

In terms of the main importing countries, Nigeria, with a CAGR of +35.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average pressure-reducing iron valve import price amounted to $X per unit, picking up by 4.5% against the previous year. Over the period under review, the import price, however, saw a deep reduction. The pace of growth was the most pronounced in 2018 an increase of 6.2%. Global import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+0.4%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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