Kenya: Safety Valve Market 2024

Safety Valve Market Size in Kenya

In 2021, the Kenyan safety valve market decreased by -10.8% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, recorded resilient growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Safety Valve Exports

Exports from Kenya

In 2021, the amount of safety or relief valves for pipes, boiler shells, tanks and vats exported from Kenya soared to X units, picking up by 187% compared with 2020. Over the period under review, exports saw a strong expansion. The growth pace was the most rapid in 2019 when exports increased by 301%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, safety valve exports skyrocketed to $X in 2021. Overall, exports showed resilient growth. The pace of growth was the most pronounced in 2019 when exports increased by 202% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Somalia (X units) was the main destination for safety valve exports from Kenya, with a 37% share of total exports. Moreover, safety valve exports to Somalia exceeded the volume sent to the second major destination, Tunisia (X units), twofold. The UK (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Somalia stood at +56.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (0.0% per year) and the UK (+20.2% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for safety or relief valves for pipes, boiler shells, tanks and vats exports from Kenya, comprising 43% of total exports. The second position in the ranking was held by the UK ($X), with a 14% share of total exports. It was followed by Uganda, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Zimbabwe amounted to +98.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+55.1% per year) and Uganda (+9.2% per year).

Export Prices by Country

In 2021, the average safety valve export price amounted to $X per unit, almost unchanged from the previous year. In general, the export price, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2016 an increase of 45%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Zimbabwe ($X per unit), while the average price for exports to Somalia ($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 the UK (+29.1%), while the prices for the other major destinations experienced mixed trend patterns.

Safety Valve Imports

Imports into Kenya

In 2021, overseas purchases of safety or relief valves for pipes, boiler shells, tanks and vats decreased by -18.9% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 654%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, safety valve imports expanded significantly to $X in 2021. Over the period under review, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 918% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest safety valve supplier to Kenya, with a 44% share of total imports. Moreover, safety valve imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Thailand (X units) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +56.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.8% per year) and Thailand (+14.4% per year).

In value terms, the largest safety valve suppliers to Kenya were Thailand ($X), China ($X) and India ($X), with a combined 35% share of total imports.

China, with a CAGR of +50.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, picking up by 32% against the previous year. Overall, the import price, however, continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2013 an increase of 35%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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