Norway: Check Valve Market 2024

Check Valve Market Size in Norway

In 2021, the Norwegian check valve market decreased by -30.1% to $X, falling for the second year in a row after three years of growth. In general, consumption showed a mild decrease. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Check Valve Production in Norway

In value terms, check valve production declined significantly to $X in 2021 estimated in export price. Over the period under review, production saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 40% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced notably in the following year.

Check Valve Exports

Exports from Norway

After two years of growth, overseas shipments of check valves for pipes, boiler shells, tanks and vats decreased by -22.3% to X units in 2021. Over the period under review, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of 44%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, check valve exports shrank modestly to $X in 2021. In general, exports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 30%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil (X units), the UK (X units) and the United States (X units) were the main destinations of check valve exports from Norway, with a combined 58% share of total exports. The Netherlands, Romania, Vietnam, Spain, Angola, Ghana, Poland, Russia, Malaysia and South Korea lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +34.9%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Norway, comprising 34% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by the UK, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Brazil amounted to +38.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.1% per year) and the UK (-1.7% per year).

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, rising by 25% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the average export price increased by 33%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Russia ($X per unit), while the average price for exports to Poland ($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 Spain (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into Norway

In 2021, purchases abroad of check valves for pipes, boiler shells, tanks and vats decreased by -6.2% to X units, falling for the second year in a row after four years of growth. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by 63%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, check valve imports shrank to $X in 2021. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 57%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest check valve supplier to Norway, accounting for a 30% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. Sweden (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-6.2% per year) and Sweden (+17.2% per year).

In value terms, the largest check valve suppliers to Norway were Italy ($X), the United States ($X) and the Netherlands ($X), together comprising 42% of total imports. These countries were followed by Sweden, Germany, China, the UK, Poland, France, Denmark, Spain, Turkey and India, which together accounted for a further 51%.

Turkey, with a CAGR of +15.3%, saw the highest rates of growth with regard to 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

In 2021, the average check valve import price amounted to $X per unit, with a decrease of -2.2% against the previous year. Overall, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, check valve import price increased by +8.9% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 47%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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