U.S. Fluid Power Valve And Hose Fitting Market. Analysis And Forecast to 2025
Fluid Power Valve And Hose Fitting Market - U.S. Remains a Leading Destination for Overseas Suppliers of Fluid Power Valve and Hose Fitting, Particularly China
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The U.S. leads the way in global imports on the fluid power valve and hose fitting market, accounting for a 19% share (based on USD). It was followed by China (10%) and Germany (8%). In 2015, U.S. fluid power valve and hose fitting imports totaled 5,939 million USD, which was 129 million USD (2%) lower than the year before.
From 2007 to 2015, U.S. fluid power valve and hose fitting imports showed mixed dynamics. An abrupt plunge in 2009 was followed by a rapid recovery over the next year. Imports surged in 2011 and then continued to grow at a healthy pace until 2014. However, in 2015, imports slipped by -2%, which could be a sign of a further correction.
In 2010, U.S. fluid power valve and hose fitting imports nearly reached the pre-recession imports level of 2008. However, since soaring in 2011, imports have remained far above their original levels.
Despite the deceleration of import growth, the U.S. continues to be one of the biggest markets for global exporters.
China was the main supplier of fluid power valves and hose fittings into the U.S., with a 25% share of total U.S. imports in 2015, based on USD. It was distantly followed by Mexico (12%), Germany (11%), and Japan (10%). From 2007 to 2015, China and Mexico were the fastest growing suppliers (+8.3% per year and + 7.0% per year, respectively), while other major supplying countries recorded more moderate paces of growth. China strengthened its position in the U.S. import structure by +4 percentage points from 2007 to 2015, while the shares of the other countries remained relatively stable.
From 2007 to 2015, the U.S. was a net importer of fluid power valves and hose fittings. However, exports grew faster than imports on average over the period under review. The U.S. trade deficit in this sector worsened over the period under review after several considerable fluctuations, growing from 1,235 million USD in 2007 to 1,771 million USD in 2015.
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