Peru: Safety Valve Market 2024

Safety Valve Market Size in Peru

The Peruvian safety valve market surged to $X in 2021, increasing by 20% 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). The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Safety valve consumption peaked in 2021 and is likely to see steady growth in years to come.

Safety Valve Exports

Exports from Peru

After three years of decline, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats increased by 14% to X units in 2021. Over the period under review, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 237% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, safety valve exports soared to $X in 2021. In general, exports, however, continue to indicate a noticeable reduction. The growth pace was the most rapid in 2016 when exports increased by 242%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for safety valve exports from Peru, accounting for a 67% share of total exports. Moreover, safety valve exports to the United States exceeded the volume sent to the second major destination, Guatemala (X units), fivefold. Ecuador (X units) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+29.7% per year) and Ecuador (-11.6% per year).

In value terms, the United States ($X) emerged as the key foreign market for safety or relief valves for pipes, boiler shells, tanks and vats exports from Peru, comprising 81% of total exports. The second position in the ranking was held by Israel ($X), with a 4.2% share of total exports. It was followed by Guatemala, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+440.6% per year) and Guatemala (+16.4% per year).

Export Prices by Country

In 2021, the average safety valve export price amounted to $X per unit, with an increase of 40% against the previous year. Over the period under review, the export price recorded a resilient increase. The pace of growth appeared the most rapid in 2014 an increase of 84% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Bolivia ($X per unit), while the average price for exports to Guatemala ($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 Bolivia (+13.6%), while the prices for the other major destinations experienced mixed trend patterns.

Safety Valve Imports

Imports into Peru

Safety valve imports into Peru expanded markedly to X units in 2021, rising by 6.4% on the previous year's figure. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 52%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, safety valve imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 45%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest safety valve supplier to Peru, accounting for a 44% share of total imports. Moreover, safety valve imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by Israel (X units), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.9% per year) and Israel (-2.8% per year).

In value terms, the United States ($X), China ($X) and Israel ($X) appeared to be the largest safety valve suppliers to Peru, together comprising 58% of total imports. These countries were followed by Spain, Germany, South Korea, Japan, Italy, Mexico, Canada and Taiwan (Chinese), which together accounted for a further 30%.

In terms of the main suppliers, South Korea, with a CAGR of +41.6%, 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

The average safety valve import price stood at $X per unit in 2021, increasing by 20% against the previous year. In general, the import price, however, saw a slight descent. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :