Conveyor And Conveying Equipment Market - The U.S. Became a Net Importer of Conveyor and Conveying Equipment, with a Widening Trade Deficit of about 620 Million USD
Other Rubber Products June 21, 2016
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The U.S. is the leader in global imports on the conveyor and conveying equipment market, accounting for a 14% share (based on USD). It was followed by China (8%), Germany (6%) and Canada (5%). In 2015, U.S. conveyor and conveying equipment imports totaled 2,613 million USD, which was 186 million USD (8%) more than the year before.
From 2007 to 2015, U.S. conveyor and conveying equipment imports showed mixed dynamics. After a significant drop in 2009, imports stood at the bottom level in 2010, which was followed by a rapid recovery over the next year. Over the upcoming years, imports continued a moderate upward trend. There was an annual increase of +6.1% from 2011 to 2015.
In 2012, U.S. conveyor and conveying equipment importers overcame the pre-recession imports level achieved in 2008.
Supported by an ongoing recovery of industries and construction, the U.S. remains one of the most attractive destinations for overseas suppliers.
Canada and Germany were the main suppliers of conveyor and conveying equipment into the U.S., with a combined 39% share of total U.S. imports in 2015, followed by China (9%) and Mexico (8%). The fastest growing suppliers were Mexico (9.5% on average per year) and Germany (+5.5% on average per year) from 2007 to 2015, while imports from China grew with an average annual rate of +3.3%, and Canadian imports returned to the level of 2007. Germany strengthened its position in the U.S. import structure, from 14% in 2007 to 17% in 2015. By contrast, Canada saw its share reduced by -6 percentage points to 22%.
From 2007 to 2010, the U.S. was a net exporter of conveyor and conveying equipment, running a surplus of around 267 million USD in 2010. However, over the next years, that surplus turned into a widening trade deficit, peaking sharply to about 620 million USD in 2015.
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Source: U.S. Conveyor And Conveying Equipment Market. Analysis And Forecast to 2020
