Southern Asia: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Southern Asia

In 2022, the South Asian pressure-reducing iron valve market decreased by -0.6% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.3% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Production in Southern Asia

In value terms, pressure-reducing iron valve production reached $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.2% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of 29%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Pressure-Reducing Iron Valve Exports

Exports in Southern Asia

Pressure-reducing iron valve exports stood at X units in 2022, surging by 2.9% against the previous year's figure. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 61%. As a result, the exports reached the peak of X units. From 2020 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. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 59% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X units), together accounting for 99.9% of total export.

India was also the fastest-growing in terms of the pressure-reducing, control, check and safety valves exports, with a CAGR of +8.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest pressure-reducing iron valve supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +9.8%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, declining by -11.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2020 when the export price increased by 23%. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +1.2% per year.

Pressure-Reducing Iron Valve Imports

Imports in Southern Asia

Pressure-reducing iron valve imports fell significantly to X units in 2022, with a decrease of -18.4% compared with 2021 figures. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -33.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 54% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, pressure-reducing iron valve imports expanded sharply to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Bangladesh (X units) and India (X units) prevails in imports structure, together mixing up 85% of total imports. It was distantly followed by Sri Lanka (X units), committing a 9.3% share of total imports. The following importers - Pakistan (X units) and Nepal (X units) - each accounted for a 4.2% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Nepal (with a CAGR of +11.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported pressure-reducing, control, check and safety valves in Southern Asia, comprising 58% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 28% share of total imports. It was followed by Sri Lanka, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +7.5%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+10.6% per year) and Sri Lanka (+2.8% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, rising by 33% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pressure-reducing iron valve import price increased by +49.3% against 2019 indices. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Pakistan ($X per unit), while Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform