New Zealand: Safety Valve Market 2024

Safety Valve Market Size in New Zealand

The New Zealand safety valve market soared to $X in 2021, jumping by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Safety Valve Exports

Exports from New Zealand

In 2021, approx. X units of safety or relief valves for pipes, boiler shells, tanks and vats were exported from New Zealand; surging by 66% compared with the year before. Over the period under review, exports recorded a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 75% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, safety valve exports surged to $X in 2021. In general, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by 137%. 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

Australia (X units) was the main destination for safety valve exports from New Zealand, accounting for a 55% share of total exports. Moreover, safety valve exports to Australia exceeded the volume sent to the second major destination, Sweden (X units), sixfold. The third position in this ranking was taken by Malaysia (X units), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia stood at +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+22.7% per year) and Malaysia (+141.0% per year).

In value terms, Australia ($X) remains the key foreign market for safety or relief valves for pipes, boiler shells, tanks and vats exports from New Zealand, comprising 57% of total exports. The second position in the ranking was taken by Sweden ($X), with an 8.7% share of total exports. It was followed by Malaysia, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +23.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+19.6% per year) and Malaysia (+130.5% per year).

Export Prices by Country

In 2021, the average safety valve export price amounted to $X per unit, remaining constant against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.5% 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 export price increased by +8.1% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 86%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cook Islands ($X per unit), while the average price for exports to Myanmar ($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 (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into New Zealand

Safety valve imports into New Zealand skyrocketed to X units in 2021, surging by 20% on the previous year. Overall, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 55%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, safety valve imports skyrocketed to $X in 2021. In general, total imports indicated a slight expansion from 2012 to 2021: its value 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, imports decreased by -14.9% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 41%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Israel (X units), the United States (X units) and Germany (X units) were the main suppliers of safety valve imports to New Zealand, together comprising 59% of total imports. These countries were followed by Australia, China, the UK, Italy, Singapore, Switzerland and Japan, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +38.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety valve suppliers to New Zealand were Israel ($X), the United States ($X) and Germany ($X), together accounting for 59% of total imports. Australia, China, the UK, Italy, Singapore, Switzerland and Japan lagged somewhat behind, together accounting for a further 30%.

Among the main suppliers, Switzerland, with a CAGR of +29.8%, saw 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 2021, the average safety valve import price amounted to $X per unit, with a decrease of -1.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 30% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Japan ($X per unit) and Switzerland ($X per unit), while the price for Israel ($X per unit) and Singapore ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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