Scandinavia: Check Valve Market 2024

Check Valve Market Size in Scandinavia

In 2021, the Scandinavia check valve market increased by 3.2% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption showed measured growth. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Check Valve Production in Scandinavia

In value terms, check valve production fell rapidly to $X in 2021 estimated in export price. In general, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 153% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Check Valve Exports

Exports in Scandinavia

In 2021, overseas shipments of check valves for pipes, boiler shells, tanks and vats increased by 45% to X units, rising for the third consecutive year after four years of decline. Overall, exports enjoyed a prominent increase. The growth pace was the most rapid in 2020 with an increase of 62%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, check valve exports rose sharply to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 14% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X units) and Denmark (X units) were the major exporters of check valves for pipes, boiler shells, tanks and vats in 2021, amounting to approx. 42% and 33% of total exports, respectively. Norway (X units) took the next position in the ranking, followed by Finland (X units). All these countries together took near 25% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +20.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) remains the largest check valve supplier in Scandinavia, comprising 58% of total exports. The second position in the ranking was taken by Sweden ($X), with a 20% share of total exports. It was followed by Denmark, with a 17% share.

In Norway, check valve exports plunged by an average annual rate of -3.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+7.7% per year) and Denmark (+3.9% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, dropping by -27.4% against the previous year. Overall, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.2%), while the other leaders experienced a decline in the export price figures.

Check Valve Imports

Imports in Scandinavia

In 2021, check valve imports in Scandinavia surged to X units, jumping by 49% against 2020 figures. Over the period under review, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, check valve imports expanded remarkably to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 24%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Denmark (X units) and Sweden (X units) were the largest importers of check valves for pipes, boiler shells, tanks and vats in 2021, finishing at near 37% and 33% of total imports, respectively. Finland (X units) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Norway (9.2%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Finland (with a CAGR of +18.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) were the countries with the highest levels of imports in 2021, with a combined 84% share of total imports.

In terms of the main importing countries, Denmark, with a CAGR of +6.0%, recorded 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 import price in Scandinavia stood at $X per unit in 2021, dropping by -28.7% against the previous year. In general, the import price recorded a drastic downturn. The growth pace was the most rapid in 2013 an increase of 28% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform