Japan: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Japan

The Japanese pressure-reducing iron valve market surged to $X in 2022, growing by 27% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Pressure-Reducing Iron Valve Production in Japan

In value terms, pressure-reducing iron valve production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 143% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Pressure-Reducing Iron Valve Exports

Exports from Japan

In 2022, overseas shipments of pressure-reducing, control, check and safety valves decreased by -12.4% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2021 when exports increased by 24%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports declined to $X in 2022. Over the period under review, exports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 34% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), the United States (X units) and South Korea (X units) were the main destinations of pressure-reducing iron valve exports from Japan, together accounting for 50% of total exports. Thailand, India, Taiwan (Chinese), Germany, Hungary, Vietnam, Hong Kong SAR, Singapore, Indonesia and the Netherlands lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +27.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pressure-reducing iron valve exported from Japan were China ($X), the United States ($X) and South Korea ($X), with a combined 56% share of total exports. Hungary, Taiwan (Chinese), Singapore, Thailand, Germany, India, the Netherlands, Hong Kong SAR, Indonesia and Vietnam lagged somewhat behind, together comprising a further 32%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +24.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average pressure-reducing iron valve export price amounted to $X per unit, rising by 2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2016 when the average export price increased by 13%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Vietnam ($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 the United States (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Japan

In 2022, imports of pressure-reducing, control, check and safety valves into Japan rose significantly to X units, growing by 14% compared with 2021. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 15% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, pressure-reducing iron valve imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 20%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest pressure-reducing iron valve supplier to Japan, accounting for a 51% share of total imports. Moreover, pressure-reducing iron valve imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fourfold. South Korea (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.8% per year) and South Korea (+30.9% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the largest pressure-reducing iron valve suppliers to Japan, with a combined 70% share of total imports. South Korea, Mexico, Thailand and India lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, South Korea, with a CAGR of +32.4%, 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 2022, the average pressure-reducing iron valve import price amounted to $X per unit, waning by -4.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 15%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, 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 ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform