Scandinavia: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Scandinavia

The Scandinavia pressure-reducing iron valve market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption continues to indicate a noticeable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Pressure-Reducing Iron Valve Production in Scandinavia

In value terms, pressure-reducing iron valve production expanded modestly to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +100.0% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of 83% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports in Scandinavia

Pressure-reducing iron valve exports contracted rapidly to X units in 2022, waning by -19.9% compared with 2021 figures. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by 29% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, pressure-reducing iron valve exports dropped to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 19%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Sweden was the main exporter of pressure-reducing, control, check and safety valves in Scandinavia, with the volume of exports accounting for X units, which was approx. 51% of total exports in 2022. Finland (X units) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by Norway (20%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Finland (with a CAGR of -1.9%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest pressure-reducing iron valve supplying countries in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X).

In terms of the main exporting countries, Finland, with a CAGR of -2.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, increasing by 13% against the previous year. Over the period under review, the export price, however, recorded a perceptible slump. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (-0.9%), while the other leaders experienced a decline in the export price figures.

Pressure-Reducing Iron Valve Imports

Imports in Scandinavia

After two years of decline, purchases abroad of pressure-reducing, control, check and safety valves increased by 16% to X units in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 16% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, pressure-reducing iron valve imports reduced to $X in 2022. Over the period under review, imports, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 14% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Finland (X units) and Norway (X units) were the major importers of pressure-reducing, control, check and safety valves in Scandinavia, together making up 79% of total imports. It was distantly followed by Sweden (X units), making up a 21% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +12.0%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Norway ($X), Finland ($X) and Sweden ($X) appeared to be the countries with the highest levels of imports in 2022.

Finland, with a CAGR of +4.9%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, waning by -14% against the previous year. In general, the import price showed a pronounced contraction. The pace of growth appeared the most rapid in 2020 when the import price increased by 7.6% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform