Cameroon: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Cameroon

In 2022, the Cameroonian pressure-reducing iron valve market decreased by -4.6% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, recorded a buoyant increase. Pressure-reducing iron valve consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Cameroon

After two years of growth, overseas shipments of pressure-reducing, control, check and safety valves decreased by -32.7% to X units in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 376%. The exports peaked at X units in 2021, and then shrank dramatically in the following year.

In value terms, pressure-reducing iron valve exports shrank sharply to $X in 2022. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 847%. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Gabon (X units) was the main destination for pressure-reducing iron valve exports from Cameroon, accounting for a 64% share of total exports. Moreover, pressure-reducing iron valve exports to Gabon exceeded the volume sent to the second major destination, Canada (X units), fourfold. New Zealand (X units) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Gabon amounted to -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+29.7% per year) and New Zealand (0.0% per year).

In value terms, Gabon ($X) remains the key foreign market for pressure-reducing, control, check and safety valves exports from Cameroon, comprising 94% of total exports. The second position in the ranking was held by Portugal ($X), with a 3% share of total exports. It was followed by New Zealand, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Gabon amounted to +9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+4.8% per year) and New Zealand (0.0% per year).

Export Prices by Country

The average pressure-reducing iron valve export price stood at $X per unit in 2022, picking up by 19% against the previous year. Overall, the export price enjoyed prominent growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 107%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Gabon ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Gabon (+12.6%), while the prices for the other major destinations experienced a decline.

Pressure-Reducing Iron Valve Imports

Imports into Cameroon

In 2022, overseas purchases of pressure-reducing, control, check and safety valves decreased by -0.5% to X units, falling for the second year in a row after two years of growth. In general, imports, however, showed temperate growth. The growth pace was the most rapid in 2016 when imports increased by 122% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports declined to $X in 2022. Over the period under review, imports, however, posted a strong expansion. The growth pace was the most rapid in 2013 when imports increased by 117% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X units) constituted the largest pressure-reducing iron valve supplier to Cameroon, accounting for a 56% share of total imports. Moreover, pressure-reducing iron valve imports from China exceeded the figures recorded by the second-largest supplier, France (X units), sixfold. The third position in this ranking was held by Italy (X units), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-6.0% per year) and Italy (+9.9% per year).

In value terms, the largest pressure-reducing iron valve suppliers to Cameroon were China ($X), France ($X) and Italy ($X), together comprising 52% of total imports. Ireland, India, the United States, Taiwan (Chinese) and Portugal lagged somewhat behind, together accounting for a further 8%.

In terms of the main suppliers, India, with a CAGR of +25.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average pressure-reducing iron valve import price amounted to $X per unit, waning by -8.2% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.5% 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 +32.4% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of 116%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform