Venezuela: Pressure-Reducing Iron Valve Market 2025

Pressure-Reducing Iron Valve Market Size in Venezuela

The Venezuelan pressure-reducing iron valve market shrank notably to $X in 2022, with a decrease of -26.1% 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). In general, consumption recorded a sharp shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Venezuela

In 2022, overseas shipments of pressure-reducing, control, check and safety valves were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a precipitous contraction. The growth pace was the most rapid in 2019 with an increase of 683%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, pressure-reducing iron valve exports stood at $X in 2022. Over the period under review, exports, however, continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 2,021%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X units) was the main destination for pressure-reducing iron valve exports from Venezuela, with a 89% share of total exports. Moreover, pressure-reducing iron valve exports to Colombia exceeded the volume sent to the second major destination, Panama (X units), more than tenfold. The third position in this ranking was held by Ecuador (X units), with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia amounted to -21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-27.6% per year) and Ecuador (-38.0% per year).

In value terms, Colombia ($X) remains the key foreign market for pressure-reducing, control, check and safety valves exports from Venezuela, comprising 67% of total exports. The second position in the ranking was held by Panama ($X), with an 11% share of total exports. It was followed by Ecuador, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at -23.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-3.2% per year) and Ecuador (-27.6% per year).

Export Prices by Country

The average pressure-reducing iron valve export price stood at $X per unit in 2022, shrinking by -4% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 171% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Ecuador ($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 Panama (+33.7%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Venezuela

Pressure-reducing iron valve imports into Venezuela dropped dramatically to X units in 2022, with a decrease of -29.5% on the year before. Overall, imports continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 166% against the previous year. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, pressure-reducing iron valve imports shrank sharply to $X in 2022. Over the period under review, imports continue to indicate a dramatic slump. The growth pace was the most rapid in 2014 with an increase of 150% 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, China (X units) constituted the largest pressure-reducing iron valve supplier to Venezuela, with a 64% share of total imports. Moreover, pressure-reducing iron valve imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), ninefold. South Korea (X units) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-30.6% per year) and South Korea (+13.5% per year).

In value terms, China ($X), the United States ($X) and the Dominican Republic ($X) appeared to be the largest pressure-reducing iron valve suppliers to Venezuela, together accounting for 46% of total imports.

In terms of the main suppliers, the Dominican Republic, with a CAGR of +89.6%, 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 pressure-reducing iron valve import price stood at $X per unit in 2022, growing by 8.6% against the previous year. Over the period under review, the import price, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2014 an increase of 53% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 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 Dominican Republic ($X per unit), while the price for Costa Rica ($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 Dominican Republic (+36.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform