Locomotive Market - Significant Trade Surplus Remains despite U.S. Exports of Locomotives and Trains Remain Stable in Recent Years
Railway Locomotives And Rolling Stock June 13, 2016
Photo: © BCFC / Bigstockphoto
The U.S. takes fourth place in global exports on the locomotive market with an 11% share (based on USD), following Germany (15%), Mexico (13%) and China (12%). In 2015, the U.S. exported 3,531 million USD, +2% over the previous year.
From 2007 to 2015, U.S. exports of locomotives, train and train cars showed mixed dynamics. A significant drop in 2009 was followed by rapid growth over the next three years. In 2011, U.S. locomotive and train exporters overcame the pre-recession level achieved in 2008. From 2013 to 2015, growth evaporated and exports stood stable at the level of 2012 with minor fluctuations. Overall, there was an annual increase of +2.2% throughout the analysed period.
As U.S. companies improved their positions on overseas markets, domestic manufacturers enjoyed a new growth driver. However, this driver appeared to soften in the recent years as exports kept stable in 2013-2015.
In 2015, the main destinations of U.S. exports of locomotives, train and train cars were Mexico (39%) and Canada (27%). The share exported to Mexico increased (+16 percentage points), while the share sent to Canada illustrated negative dynamics (-3 percentage points) between 2007 and 2015.
From 2007 to 2015, the U.S. was a net exporter of locomotives, train and train cars. Moreover, exports grew faster than imports on average over the period under review.
Net US exports of locomotives, train and train cars showed a positive trend over the period under review. In 2015, this industry ran a significant trade surplus of 1,834 million USD, approximately 52% of gross exports.
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Source: U.S. Locomotives, Train And Train Cars Market. Analysis And Forecast to 2020
