Pressure-Reducing Iron Valve Market in Latin America and the Caribbean
In value terms, pressure-reducing iron valve production declined to $ in estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2014 to , production growth remained at a lower figure.
Mexico ( units) remains the largest pressure-reducing iron valve producing country in Latin America and the Caribbean, comprising approx. % of total volume. Moreover, pressure-reducing iron valve production in Mexico exceeded the figures recorded by the second-largest producer, Argentina ( units), fourfold.
From 2007 to , the average annual growth rate of volume in Mexico amounted to -%.
The value of the pressure-reducing iron valve market in Latin America and the Caribbean surged to $ in , growing by % 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). The total consumption indicated perceptible growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.
In Mexico, pressure-reducing iron valve consumption increased at an average annual rate of +% over the period from 2007-. The remaining consuming countries recorded the following average annual rates of consumption growth: Argentina (-% per year) and Brazil (+% per year).
In value terms, Mexico ($) led the market, alone. The second position in the ranking was taken by Argentina ($). It was followed by Brazil.
From 2007 to , the average annual rate of growth in terms of value in Mexico totaled +%. The remaining consuming countries recorded the following average annual rates of market growth: Argentina (+% per year) and Brazil (+% per year).
In , the highest levels of pressure-reducing iron valve per capita consumption was registered in Belize ( units per persons), followed by Mexico ( units per persons), Argentina ( units per persons) and Chile ( units per persons), while the world average per capita consumption of pressure-reducing iron valve was estimated at units per persons.
From 2007 to , the average annual growth rate of the pressure-reducing iron valve per capita consumption in Belize totaled +%. In the other countries, the average annual rates were as follows: Mexico (+% per year) and Argentina (-% per year).
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .