World - Pressure-Reducing, Control, Check and Safety Valves - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPressure-Reducing Iron Valve Market
The global market for pressure-reducing, control, check and safety valves is projected to grow steadily over the next eight years, with an anticipated increase in market volume and value. In 2022, global consumption of these valves saw a significant increase, reaching 1.5B units. The trend of growth is expected to continue, with market performance forecasted to expand with a CAGR of +0.9% in volume and +3.1% in value from 2022 to 2030. The top consuming countries in 2022 were Nigeria, China, and the United States, with Nigeria exhibiting the highest growth rate. Production of these valves also saw an increase in 2022, after two years of decline, with the total output volume experiencing fluctuations over the years. The highest volumes of production in 2022 were recorded in China, the United States, and India. In terms of imports, Nigeria was the largest importer of these valves in 2022, with the United States and Germany following behind. Export prices and trends also showed fluctuations, with China, Mexico, and Italy being major exporters in 2022. Overall, the global market for pressure-reducing, control, check, and safety valves is expected to see continued growth in the coming years.
Market Forecast
Driven by increasing demand for pressure-reducing, control, check and safety valves worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.9% for the period from 2022 to 2030, which is projected to bring the market volume to 1.7B units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $15.4B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Pressure-Reducing, Control, Check and Safety Valves
In 2022, global consumption of pressure-reducing, control, check and safety valves soared to 1.5B units, jumping by 17% compared with 2021 figures. In general, the total consumption indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the maximum volume in 2022 and is expected to retain growth in the near future.
The global pressure-reducing iron valve market revenue expanded markedly to $12.1B in 2022, growing by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were Nigeria (304M units), China (237M units) and the United States (192M units), with a combined 48% share of global consumption.
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Nigeria (with a CAGR of +66.6%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($4.9B) led the market, alone. The second position in the ranking was taken by China ($1.1B). It was followed by Japan.
From 2012 to 2022, the average annual growth rate of value in the United States totaled +7.3%. In the other countries, the average annual rates were as follows: China (+0.5% per year) and Japan (+0.5% per year).
The countries with the highest levels of pressure-reducing iron valve per capita consumption in 2022 were Nigeria (1,404 units per 1000 persons), Germany (730 units per 1000 persons) and the United States (574 units per 1000 persons).
From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +62.4%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Pressure-Reducing, Control, Check and Safety Valves
After two years of decline, production of pressure-reducing, control, check and safety valves increased by 7.1% to 1.2B units in 2022. The total output volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 26%. As a result, production attained the peak volume of 1.3B units. From 2020 to 2022, global production growth failed to regain momentum.
In value terms, pressure-reducing iron valve production reached $9.9B in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.2% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 36%. Over the period under review, global production reached the maximum level at $10.1B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (289M units), the United States (158M units) and India (117M units), with a combined 47% share of global production. Mexico, Germany, Italy, Russia, Turkey, Japan, South Korea and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 35%.
From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +10.8%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Pressure-Reducing, Control, Check and Safety Valves
In 2022, approx. 786M units of pressure-reducing, control, check and safety valves were imported worldwide; jumping by 29% on 2021 figures. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.3% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, pressure-reducing iron valve imports rose rapidly to $4.2B in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2014 when imports increased by 11% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.
Imports By Country
Nigeria represented the largest importer of pressure-reducing, control, check and safety valves in the world, with the volume of imports recording 304M units, which was near 39% of total imports in 2022. It was distantly followed by the United States (65M units), committing an 8.2% share of total imports. Germany (28M units), China (26M units), the UK (21M units), Spain (20M units), Indonesia (13M units) and Thailand (12M units) took a little share of total imports.
Nigeria was also the fastest-growing in terms of the pressure-reducing, control, check and safety valves imports, with a CAGR of +66.6% from 2012 to 2022. At the same time, Thailand (+7.1%), Germany (+5.9%), Spain (+4.5%) and the UK (+3.6%) displayed positive paces of growth. The United States and China experienced a relatively flat trend pattern. By contrast, Indonesia (-5.8%) illustrated a downward trend over the same period. Nigeria (+38 p.p.) significantly strengthened its position in terms of the global imports, while China, Indonesia and the United States saw its share reduced by -2.5%, -3.8% and -6.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($531M), China ($452M) and Germany ($267M) were the countries with the highest levels of imports in 2022, with a combined 29% share of global imports. Nigeria, the UK, Spain, Thailand and Indonesia lagged somewhat behind, together accounting for a further 13%.
Nigeria, with a CAGR of +37.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average pressure-reducing iron valve import price amounted to $5.4 per unit, with a decrease of -16.9% against the previous year. Overall, the import price recorded a perceptible decline. The growth pace was the most rapid in 2021 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the peak figure at $7.7 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($17 per unit), while Nigeria ($0.7 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.9%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Pressure-Reducing, Control, Check and Safety Valves
In 2022, shipments abroad of pressure-reducing, control, check and safety valves increased by 7.1% to 437M units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 17% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, pressure-reducing iron valve exports rose modestly to $3.4B in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.
Exports By Country
The shipments of the three major exporters of pressure-reducing, control, check and safety valves, namely China, Mexico and Italy, represented more than third of total export. Germany (31M units) ranks next in terms of the total exports with a 7% share, followed by the United States (7%). India (16M units), Hungary (15M units), South Korea (13M units), Turkey (9.7M units), Denmark (9.6M units), Malaysia (8.6M units), Japan (7.8M units) and the United Arab Emirates (7.1M units) took a relatively small share of total exports.
From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +10.5%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, Germany ($498M), the United States ($425M) and China ($423M) constituted the countries with the highest levels of exports in 2022, with a combined 40% share of global exports. Italy, Mexico, Japan, South Korea, Denmark, Hungary, India, Turkey, Malaysia and the United Arab Emirates lagged somewhat behind, together accounting for a further 33%.
India, with a CAGR of +9.8%, 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 2022, the average pressure-reducing iron valve export price amounted to $7.8 per unit, declining by -4.8% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 3.8% against the previous year. As a result, the export price reached the peak level of $8.7 per unit. From 2015 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($20 per unit), while Malaysia ($2.9 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global pressure-reducing iron valve market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28141120 - Pressure-reducing valves of cast iron or steel, for pipes, b oiler shells, tanks, vats and the like (excluding those combined with lubricators or filters)
- Prodcom 28141140 - Pressure-reducing valves for pipes, boiler shells, tanks, vats and the like (excluding of cast iron or steel, those combined with filters or lubricators)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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