Latvia: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Latvia

The Latvian pressure-reducing iron valve market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption saw a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Latvia

In 2022, pressure-reducing iron valve exports from Latvia declined to X units, with a decrease of -5.4% against 2021. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +4.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 63% against the previous year. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports rose notably to $X in 2022. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 52%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Switzerland (X units), Finland (X units) and Estonia (X units) were the main destinations of pressure-reducing iron valve exports from Latvia, together accounting for 64% of total exports.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +150.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Finland ($X) and Sweden ($X) were the largest markets for pressure-reducing iron valve exported from Latvia worldwide, with a combined 59% share of total exports.

Among the main countries of destination, Switzerland, with a CAGR of +144.3%, saw the highest growth rate of 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, picking up by 15% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.4% 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 export price increased by +121.9% against 2016 indices. The growth pace was the most rapid in 2020 an increase of 36% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Estonia ($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 Slovakia (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Latvia

Pressure-reducing iron valve imports into Latvia fell modestly to X units in 2022, declining by -4.3% on the previous year. Overall, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of 12% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, pressure-reducing iron valve imports reached $X in 2022. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 when imports increased by 27%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Denmark (X units), Sweden (X units) and Lithuania (X units) were the main suppliers of pressure-reducing iron valve imports to Latvia, with a combined 39% share of total imports. Poland, Italy, Germany, the Netherlands, Turkey, Russia, Spain, Finland, Belarus and China lagged somewhat behind, together accounting for a further 54%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +51.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Denmark ($X) and Germany ($X) constituted the largest pressure-reducing iron valve suppliers to Latvia, together accounting for 45% of total imports. Lithuania, Russia, Poland, Finland, Italy, Turkey, Spain, the Netherlands, China and Belarus lagged somewhat behind, together comprising a further 44%.

Spain, with a CAGR of +61.6%, 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 pressure-reducing iron valve import price stood at $X per unit in 2022, surging by 13% against the previous year. Over the period under review, the import price saw a modest increase. The most prominent rate of growth was recorded in 2016 an increase of 39%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform