Norway: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Norway

The Norwegian pressure-reducing iron valve market soared to $X in 2022, rising by 73% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Pressure-reducing iron valve consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Pressure-Reducing Iron Valve Production in Norway

In value terms, pressure-reducing iron valve production surged to $X in 2022 estimated in export price. In general, production, however, showed a slight slump. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Norway

Pressure-reducing iron valve exports from Norway dropped sharply to X units in 2022, shrinking by -17.2% compared with the previous year. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 77%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports shrank to $X in 2022. In general, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 when exports increased by 47% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units), China (X units) and South Korea (X units) were the main destinations of pressure-reducing iron valve exports from Norway, with a combined 38% share of total exports. The Netherlands, Sweden, the UK, Turkey, Romania, Poland, Singapore, the United States, Denmark and Austria lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +28.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pressure-reducing iron valve exported from Norway were the UK ($X), Germany ($X) and China ($X), with a combined 31% share of total exports. The Netherlands, the United States, South Korea, Singapore, Sweden, Poland, Turkey, Denmark, Romania and Austria lagged somewhat behind, together accounting for a further 39%.

Austria, with a CAGR of +19.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pressure-reducing iron valve export price stood at $X per unit in 2022, picking up by 15% against the previous year. Overall, the export price, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2014 when the average export price increased by 22% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Romania ($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 Singapore (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

Pressure-Reducing Iron Valve Imports

Imports into Norway

After two years of decline, supplies from abroad of pressure-reducing, control, check and safety valves increased by 52% to X units in 2022. Overall, imports, however, recorded a perceptible decline. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports expanded significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a deep slump. The pace of growth was the most pronounced in 2019 when imports increased by 14%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X units), Germany (X units) and China (X units) were the main suppliers of pressure-reducing iron valve imports to Norway, together comprising 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +57.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pressure-reducing iron valve suppliers to Norway were Germany ($X), Spain ($X) and the UK ($X), with a combined 50% share of total imports.

Spain, with a CAGR of +43.5%, saw 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

In 2022, the average pressure-reducing iron valve import price amounted to $X per unit, declining by -25.6% against the previous year. Over the period under review, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2016 an increase of 16%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform