India: Check Valve Market 2024

Check Valve Market Size in India

In 2021, after two years of growth, there was significant decline in the Indian check valve market, when its value decreased by -20% to $X. Over the period under review, consumption, however, posted a strong expansion. As a result, consumption reached the peak level of $X, and then fell markedly in the following year.

Check Valve Production in India

In value terms, check valve production shrank markedly to $X in 2021 estimated in export price. In general, production, however, saw a strong increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 61%. As a result, production attained the peak level of $X, and then reduced remarkably in the following year.

Check Valve Exports

Exports from India

In 2021, after two years of decline, there was significant growth in overseas shipments of check valves for pipes, boiler shells, tanks and vats, when their volume increased by 21% to X units. Over the period under review, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 140%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, check valve exports soared to $X in 2021. Overall, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 148% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for check valve exports from India, with a 53% share of total exports. Moreover, check valve exports to the United States exceeded the volume sent to the second major destination, Oman (X units), fivefold. China (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +53.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+52.2% per year) and China (+122.0% per year).

In value terms, the United States ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from India, comprising 37% of total exports. The second position in the ranking was held by China ($X), with a 13% share of total exports. It was followed by the United Arab Emirates, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +53.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+126.9% per year) and the United Arab Emirates (-3.7% per year).

Export Prices by Country

In 2021, the average check valve export price amounted to $X per unit, growing by 4.9% against the previous year. Overall, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 16% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into India

For the fifth consecutive year, India recorded growth in overseas purchases of check valves for pipes, boiler shells, tanks and vats, which increased by 5.6% to X units in 2021. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2013 with an increase of 40%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, check valve imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 56%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

Japan (X units), Germany (X units) and South Korea (X units) were the main suppliers of check valve imports to India, with a combined 58% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +41.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and South Korea ($X) were the largest check valve suppliers to India, with a combined 49% share of total imports. These countries were followed by the Netherlands, the United States, China, the UK, Italy and the United Arab Emirates, which together accounted for a further 42%.

Among the main suppliers, the Netherlands, with a CAGR of +36.7%, 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

In 2021, the average check valve import price amounted to $X per unit, picking up by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 22% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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