Overview of the Global Market for Process Control, Gate, Globe and Other Valves

Market Size for Process Control, Gate, Globe and Other Valves

In 2022, the global market for process control, gate, globe and other valves increased by 4.2% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 8.9% against the previous year. Over the period under review, the global market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Process Control, Gate, Globe and Other Valves

In value terms, production of process control, gate, globe and other valves fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. Over the period under review, global production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Process Control, Gate, Globe and Other Valves

Exports

In 2022, overseas shipments of process control, gate, globe and other valves increased by 0.2% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 36% against the previous year. The global exports peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, exports of process control, gate, globe and other valves expanded modestly to $X in 2022. The total export value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 17%. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

China represented the key exporting country with an export of about X tons, which resulted at 49% of total exports. Italy (X tons) held the second position in the ranking, followed by Germany (X tons). All these countries together took approx. 15% share of total exports. The following exporters - Mexico (X tons), Spain (X tons), Japan (X tons), India (X tons), the United States (X tons), Poland (X tons), South Korea (X tons), Turkey (X tons) and the Czech Republic (X tons) - together made up 18% of total exports.

Exports from China increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Turkey (+4.4%), Poland (+4.4%), Spain (+3.3%) and Japan (+3.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +4.4% from 2012-2022. Mexico, India and Germany experienced a relatively flat trend pattern. By contrast, Italy (-1.6%), the Czech Republic (-2.1%), South Korea (-5.7%) and the United States (-8.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +10 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest process control, gate, globe and other valves supplier worldwide, comprising 25% of global exports. The second position in the ranking was held by Germany ($X), with a 12% share of global exports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +5.7%. In the other countries, the average annual rates were as follows: Germany (+2.2% per year) and the United States (+2.0% per year).

Export Prices by Country

The average export price for process control, gate, globe and other valves stood at $X per ton in 2022, growing by 2.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2014 an increase of 38% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.2%), while the other global leaders experienced more modest paces of growth.

Imports of Process Control, Gate, Globe and Other Valves

Imports

After five years of growth, overseas purchases of process control, gate, globe and other valves decreased by -2.1% to X tons in 2022. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 7.8%. Global imports peaked at X tons in 2021, and then shrank modestly in the following year.

In value terms, imports of process control, gate, globe and other valves expanded slightly to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. Over the period under review, global imports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons), distantly followed by Nigeria (X tons) and Germany (X tons) represented the key importers of process control, gate, globe and other valves, together creating 28% of total imports. The following importers - Russia (X tons), France (X tons), the UK (X tons), China (X tons), the United Arab Emirates (X tons), Mexico (X tons), Canada (X tons), Indonesia (X tons), Spain (X tons) and Saudi Arabia (X tons) - together made up 26% of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of process control, gate, globe and other valves. At the same time, Nigeria (+18.9%), Indonesia (+4.5%), Spain (+2.3%), France (+2.0%), Germany (+1.6%), China (+1.5%) and Mexico (+1.1%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +18.9% from 2012-2022. The United Arab Emirates, the UK and Saudi Arabia experienced a relatively flat trend pattern. By contrast, Canada (-1.1%) and Russia (-1.1%) illustrated a downward trend over the same period. While the share of Nigeria (+4.2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the United States (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest process control, gate, globe and other valves importing markets worldwide were the United States ($X), China ($X) and Germany ($X), with a combined 30% share of global imports. Canada, France, the UK, Russia, Mexico, the United Arab Emirates, Spain, Saudi Arabia, Indonesia and Nigeria lagged somewhat behind, together accounting for a further 24%.

In terms of the main importing countries, Nigeria, with a CAGR of +11.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for process control, gate, globe and other valves stood at $X per ton in 2022, increasing by 6% against the previous year. Over the period under review, the import price saw a slight increase. The pace of growth was the most pronounced in 2021 an increase of 12% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :