Estonia: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Estonia

In 2022, after five years of growth, there was significant decline in the Estonian pressure-reducing iron valve market, when its value decreased by -44.2% to $X. Overall, consumption, however, showed a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then declined rapidly in the following year.

Pressure-Reducing Iron Valve Production in Estonia

In value terms, pressure-reducing iron valve production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Pressure-reducing iron valve production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Pressure-Reducing Iron Valve Exports

Exports from Estonia

Pressure-reducing iron valve exports from Estonia reduced to X units in 2022, shrinking by -12.7% compared with 2021. Overall, exports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 48%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, pressure-reducing iron valve exports declined rapidly to $X in 2022. In general, exports saw a noticeable slump. The pace of growth appeared the most rapid in 2016 when exports increased by 110%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for pressure-reducing iron valve exports from Estonia, with a 50% share of total exports. Moreover, pressure-reducing iron valve exports to Germany exceeded the volume sent to the second major destination, India (X units), threefold. Russia (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+48.5% per year) and Russia (-16.9% per year).

In value terms, Germany ($X) emerged as the key foreign market for pressure-reducing, control, check and safety valves exports from Estonia, comprising 52% of total exports. The second position in the ranking was taken by Russia ($X), with an 11% share of total exports. It was followed by Cote d'Ivoire, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-17.3% per year) and Cote d'Ivoire (0.0% per year).

Export Prices by Country

In 2022, the average pressure-reducing iron valve export price amounted to $X per unit, with a decrease of -4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 42%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to India ($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 Lithuania (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Estonia

In 2022, approx. X units of pressure-reducing, control, check and safety valves were imported into Estonia; which is down by -40.4% compared with 2021 figures. In general, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 when imports increased by 87% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, pressure-reducing iron valve imports declined remarkably to $X in 2022. Over the period under review, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2019 when imports increased by 108%. Over the period under review, imports attained the maximum at $X in 2021, and then contracted markedly in the following year.

Imports by Country

In 2022, Italy (X units) constituted the largest pressure-reducing iron valve supplier to Estonia, accounting for a 36% share of total imports. Moreover, pressure-reducing iron valve imports from Italy exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold. Sweden (X units) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+25.7% per year) and Sweden (+6.9% per year).

In value terms, Sweden ($X), China ($X) and Italy ($X) appeared to be the largest pressure-reducing iron valve suppliers to Estonia, with a combined 49% share of total imports. Taiwan (Chinese), Germany, Hungary, Denmark, the UK, the Netherlands, Lithuania, Finland and Latvia lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Lithuania, with a CAGR of +51.5%, recorded 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

The average pressure-reducing iron valve import price stood at $X per unit in 2022, stabilizing at the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 +59.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 46%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform