Canada: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Canada

The Canadian pressure-reducing iron valve market stood at $X in 2022, growing by 13% against the previous year. In general, consumption showed a buoyant increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Pressure-Reducing Iron Valve Production in Canada

In value terms, pressure-reducing iron valve production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 81%. Pressure-reducing iron valve production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Canada

In 2022, shipments abroad of pressure-reducing, control, check and safety valves was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 45%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports rose remarkably to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 17% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for pressure-reducing iron valve exports from Canada, accounting for a 70% share of total exports. Moreover, pressure-reducing iron valve exports to the United States exceeded the volume sent to the second major destination, the UK (X units), more than tenfold. The third position in this ranking was held by Chile (X units), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+8.5% per year) and Chile (+2.1% per year).

In value terms, the United States ($X) remains the key foreign market for pressure-reducing, control, check and safety valves exports from Canada, comprising 70% of total exports. The second position in the ranking was held by the UK ($X), with a 5.5% share of total exports. It was followed by Chile, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+7.9% per year) and Chile (+1.4% per year).

Export Prices by Country

The average pressure-reducing iron valve export price stood at $X per unit in 2022, falling by -4.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 10% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per unit) and the Netherlands ($X per unit), while the average price for exports to Russia ($X per unit) and the UK ($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 the United Arab Emirates (+7.1%), while the prices for the other major destinations experienced a decline.

Pressure-Reducing Iron Valve Imports

Imports into Canada

In 2022, approx. X units of pressure-reducing, control, check and safety valves were imported into Canada; picking up by 22% compared with 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, pressure-reducing iron valve imports skyrocketed to $X in 2022. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units) constituted the largest pressure-reducing iron valve supplier to Canada, accounting for a 47% share of total imports. Moreover, pressure-reducing iron valve imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X units), twofold. The third position in this ranking was held by China (X units), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-1.1% per year) and China (-0.9% per year).

In value terms, the United States ($X) constituted the largest supplier of pressure-reducing, control, check and safety valves to Canada, comprising 47% of total imports. The second position in the ranking was held by Mexico ($X), with a 20% share of total imports. It was followed by China, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+0.0% per year) and China (+0.2% per year).

Import Prices by Country

The average pressure-reducing iron valve import price stood at $X per unit in 2022, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2020 an increase of 9.4% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Mexico ($X per unit) and the United States ($X per unit), while the price for South Korea ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform