Middle East: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in the Middle East

In 2022, the Middle Eastern pressure-reducing iron valve market increased by 71% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, saw a perceptible slump. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Pressure-Reducing Iron Valve Production in the Middle East

In value terms, pressure-reducing iron valve production fell to $X in 2022 estimated in export price. Overall, production saw a buoyant expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 44%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports in the Middle East

In 2022, overseas shipments of pressure-reducing, control, check and safety valves increased by 3% to X units, rising for the second consecutive year after three years of decline. Overall, exports recorded a pronounced expansion. The pace of growth was the most pronounced in 2015 with an increase of 127%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports expanded to $X in 2022. In general, exports posted a notable expansion. The pace of growth appeared the most rapid in 2015 with an increase of 123%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Turkey represented the key exporter of pressure-reducing, control, check and safety valves in the Middle East, with the volume of exports finishing at X units, which was near 66% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), Israel (X units) and Bahrain (X units), together generating a 29% share of total exports. Oman (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, Bahrain (+38.4%) and Oman (+37.6%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +38.4% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-2.3%) illustrated a downward trend over the same period. While the share of Turkey (+19 p.p.), Bahrain (+5 p.p.) and Oman (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-1.6 p.p.) and the United Arab Emirates (-14 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest pressure-reducing iron valve supplier in the Middle East, comprising 60% of total exports. The second position in the ranking was held by Israel ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 16% share.

In Turkey, pressure-reducing iron valve exports expanded at an average annual rate of +9.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+0.5% per year) and the United Arab Emirates (-0.8% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, picking up by 1.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2017 when the export price increased by 27%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Pressure-Reducing Iron Valve Imports

Imports in the Middle East

In 2022, purchases abroad of pressure-reducing, control, check and safety valves increased by 3.8% to X units for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 27% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports dropped to $X in 2022. Overall, imports, however, saw a slight slump. The most prominent rate of growth was recorded in 2013 with an increase of 14%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of pressure-reducing iron valve imports in 2022 were Kuwait (X units), Turkey (X units), the United Arab Emirates (X units) and Iraq (X units), together resulting at 84% of total import. Iran (X units), Oman (X units) and Israel (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +12.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 45% of total imports.

Kuwait, with a CAGR of +10.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, with a decrease of -7.8% against the previous year. Over the period under review, the import price saw a noticeable decrease. The pace of growth was the most pronounced in 2021 when the import price increased by 14%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform