The sold production of globe valves made of cast iron in Italy peaked significantly in 2014, witnessing a staggering growth before experiencing fluctuating declines and moderate recoveries. By 2023, the volume stabilized at 1.3925 million kilograms. Over 2022 to 2023, the year-on-year variation showed a marginal decline of 1.13%, continuing a downward trend from previous years. The average compound annual growth rate (CAGR) over the last 5 years stood at -0.91%, indicating slight but consistent decline.
Looking to the future, production is projected to continue decreasing gradually with an annual average decline.- In the coming years, the industry should monitor advancements in valve technology, the impact of regulatory changes, and shifting demands in industrial applications to adapt and mitigate further declines.
