Russian Federation: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in the Russian Federation

In 2022, after two years of growth, there was significant decline in the Russian pressure-reducing iron valve market, when its value decreased by -8.6% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Pressure-Reducing Iron Valve Exports

Exports from the Russian Federation

In 2022, overseas shipments of pressure-reducing, control, check and safety valves decreased by -27.4% to X units, falling for the third consecutive year after two years of growth. Over the period under review, exports, however, showed mild growth. The growth pace was the most rapid in 2013 with an increase of 93%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, pressure-reducing iron valve exports reduced to $X in 2022. Overall, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2013 with an increase of 59%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Belarus (X units), Azerbaijan (X units) and Kazakhstan (X units) were the main destinations of pressure-reducing iron valve exports from Russia, with a combined 66% share of total exports. Lithuania, Ukraine, Bangladesh, France and Turkmenistan lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +37.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pressure-reducing iron valve exported from Russia were Kazakhstan ($X), Belarus ($X) and Bangladesh ($X), together comprising 19% of total exports. Azerbaijan, Ukraine, Lithuania, France and Turkmenistan lagged somewhat behind, together accounting for a further 13%.

Lithuania, with a CAGR of +28.4%, recorded 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, with an increase of 20% against the previous year. Overall, the export price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2021 when the average export price increased by 77%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to Turkmenistan ($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 Myanmar (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Pressure-Reducing Iron Valve Imports

Imports into the Russian Federation

In 2022, after two years of growth, there was significant decline in supplies from abroad of pressure-reducing, control, check and safety valves, when their volume decreased by -9.5% to X units. In general, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +100.8% against 2015 indices. The pace of growth was the most pronounced in 2017 when imports increased by 39% against the previous year. Imports peaked at X units in 2021, and then fell in the following year.

In value terms, pressure-reducing iron valve imports reduced to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of pressure-reducing iron valve to Russia, accounting for a 49% share of total imports. Moreover, pressure-reducing iron valve imports from China exceeded the figures recorded by the second-largest supplier, Belarus (X units), fourfold. The third position in this ranking was taken by Italy (X units), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+1.6% per year) and Italy (-0.8% per year).

In value terms, the largest pressure-reducing iron valve suppliers to Russia were China ($X), Germany ($X) and the United States ($X), with a combined 47% share of total imports. France, Italy, Poland, South Korea, the Czech Republic, Israel, Belarus, Hungary, Ukraine and Turkey lagged somewhat behind, together comprising a further 39%.

In terms of the main suppliers, Hungary, with a CAGR of +23.6%, recorded the highest growth rate of 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 pressure-reducing iron valve import price stood at $X per unit in 2022, reducing by -2.2% against the previous year. Overall, the import price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 14% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Belarus ($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 United States (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform