Australia: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Australia

The Australian pressure-reducing iron valve market expanded markedly to $X in 2022, with an increase of 13% 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). Over the period under review, consumption enjoyed a modest increase. Pressure-reducing iron valve consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Australia

In 2022, shipments abroad of pressure-reducing, control, check and safety valves increased by 4.1% to X units, rising for the third year in a row after two years of decline. In general, exports, however, saw a pronounced slump. The growth pace was the most rapid in 2017 when exports increased by 116% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, pressure-reducing iron valve exports rose notably to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 113%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X units), the United States (X units) and China (X units) were the main destinations of pressure-reducing iron valve exports from Australia, with a combined 40% share of total exports. Indonesia, New Zealand, Papua New Guinea, New Caledonia, Panama, South Africa, Kazakhstan, the UK, Madagascar and Canada lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +93.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pressure-reducing iron valve exported from Australia were Singapore ($X), the United States ($X) and China ($X), together accounting for 40% of total exports. Indonesia, New Zealand, Papua New Guinea, New Caledonia, Panama, South Africa, Kazakhstan, the UK, Madagascar and Canada lagged somewhat behind, together comprising a further 45%.

In terms of the main countries of destination, Panama, with a CAGR of +91.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pressure-reducing iron valve export price stood at $X per unit in 2022, surging by 8.2% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2018 an increase of 39%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Madagascar ($X per unit) and South Africa ($X per unit), while the average price for exports to Singapore ($X per unit) and New Caledonia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Australia

In 2022, pressure-reducing iron valve imports into Australia expanded sharply to X units, surging by 8.7% compared with 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 38% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +2.4% 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 2014 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X units), the United States (X units) and China (X units) were the main suppliers of pressure-reducing iron valve imports to Australia, together accounting for 60% of total imports. Germany, the UK, France, Denmark, Mexico, New Zealand, Poland and Taiwan (Chinese) lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +35.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pressure-reducing iron valve suppliers to Australia were Italy ($X), the United States ($X) and China ($X), with a combined 60% share of total imports. Germany, the UK, France, Denmark, Mexico, New Zealand, Poland and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 28%.

New Zealand, with a CAGR of +38.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pressure-reducing iron valve import price stood at $X per unit in 2022, surging by 2.8% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pressure-reducing iron valve import price increased by +114.9% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 97% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and the United States ($X per unit), while the price for France ($X per unit) and New Zealand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform