India: Safety Valve Market 2024

Safety Valve Market Size in India

After six years of growth, the Indian safety valve market decreased by -26.5% to $X in 2021. In general, consumption, however, saw buoyant growth. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Safety Valve Production in India

In value terms, safety valve production contracted markedly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 111% against the previous year. As a result, production reached the peak level of $X, and then contracted notably in the following year.

Safety Valve Exports

Exports from India

After three years of decline, shipments abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 76% to X units in 2021. In general, exports saw mild growth. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, safety valve exports soared to $X in 2021. Overall, exports recorded a notable increase. The growth pace was the most rapid in 2013 with an increase of 63%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units), the United States (X units) and Brazil (X units) were the main destinations of safety valve exports from India, with a combined 39% share of total exports. These countries were followed by Mexico, China, Germany, Hungary, France, Nepal, Bangladesh, Nigeria, Kenya and Singapore, which together accounted for a further 47%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +258.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), the United States ($X) and Mexico ($X) constituted the largest markets for safety valve exported from India worldwide, with a combined 36% share of total exports. Germany, China, Singapore, Brazil, France, Hungary, Nigeria, Kenya, Nepal and Bangladesh lagged somewhat behind, together comprising a further 48%.

Hungary, with a CAGR of +249.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average safety valve export price stood at $X per unit in 2021, falling by -13.3% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the average export price increased by 32%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020, and then contracted in the following year.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while the average price for exports to Nepal ($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 Singapore (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into India

For the sixth year in a row, India recorded growth in purchases abroad of safety or relief valves for pipes, boiler shells, tanks and vats, which increased by 25% to X units in 2021. Overall, imports showed strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by 58% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, safety valve imports surged to $X in 2021. In general, imports recorded a strong increase. The growth pace was the most rapid in 2018 when imports increased by 68% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of safety valve imports to India, together comprising 52% of total imports. These countries were followed by the United States, the United Arab Emirates, Thailand, Singapore and Japan, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +74.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Italy ($X) and Germany ($X) appeared to be the largest safety valve suppliers to India, with a combined 45% share of total imports. These countries were followed by the United States, Singapore, the United Arab Emirates, Japan and Thailand, which together accounted for a further 43%.

In terms of the main suppliers, Thailand, with a CAGR of +67.9%, recorded the highest growth rate of 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 safety valve import price stood at $X per unit in 2021, with a decrease of -5.6% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, safety valve import price decreased by -29.9% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 62% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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