U.S. Fluid Power Cylinder And Actuator Market. Analysis And Forecast to 2025
The U.S. Market for Fluid Power Cylinders and Actuators Recovers
Fluid power is a workhorse of the U.S. economy, a cross-cutting technology applied by a great number of industries. The U.S. fluid power industry is strongly competitive around the world. Fluid power and the industries it serves depend on a highly-educated workforce and require investments in new fluid power education, as well as training resources.
Vast amounts of energy are consumed by fluid power systems, and overall energy efficiency can be boosted by the adoption of best practices and focused research and development programs.
China and Germany were the main suppliers of fluid power cylinders and actuators into the U.S., with a combined share of 29% of total U.S. imports in 2014. However, the fastest growing suppliers were Mexico (+20.6% per year) and China (+17.0% per year) in total imports from 2007 to 2014. China strengthened its position in the U.S. import structure from 10% in 2007 to 16% in 2014, while Canada and Germany saw their shares reduced.
In 2014, the main destinations of U.S. fluid power cylinder and actuator exports were Canada (18%) and Mexico (16%). Brazil and China became the fastest growing importers. From 2007 to 2014, average annual growth rates of fluid power cylinder and actuator exports into these countries stood at +23.7% and +10.2%, respectively.
Source: IndexBox AI Platform
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
We can help you conduct market research and write a report using the most reliable data