U.S. Switchgear And Switchboard Apparatus Market. Analysis And Forecast to 2025
U.S. Switchgear and Switchboard Apparatus Imports Tend to Soften Growth in the Recent Years
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The U.S. takes an 11% share (based on USD) of global switchgear and switchboard apparatus imports, which put it in second place, following China (19%). In 2015, U.S. switchgear and switchboard apparatus imports totaled 16,714 million USD, which was 280 million USD (+2%) more than the year before.
From 2007 to 2015, U.S. switchgear and switchboard apparatus imports showed mixed dynamics. A significant drop in 2009 was followed by steady growth over the next four years, until growth started to decelerate in 2013-2015. There was an annual increase of +6.4% throughout the analysed period. The peak pre-recession import level of 2008 was surpassed by the U.S. importers in 2010.
Despite softening growth of imports, the U.S. continues to be one of the biggest markets for global exporters.
Mexico was the main supplier of switchgear and switchboard apparatus into the U.S., with a 35% share of total U.S. imports (in value terms) in 2015. It was distantly followed by China (17%), Germany (7%) and Japan (6%). Considering the overall fluctuations of imports, the fastest growing suppliers were China (+10.9% per year) and Mexico (+6.3% per year) from 2007 to 2015. China strengthened its position in U.S. imports, from 12% in 2007 to 17% in 2015. The share of Mexico remained stable, while Japan saw its share reduced from 9% in 2007 to 6% in 2015 (all the figures based on value terms).
From 2007 to 2015, the U.S. was a net importer of switchgear and switchboard apparatus. Moreover, imports grew faster than exports on average over the period under review.
The U.S. trade deficit in this sector deeply worsened over the period under review, growing from 122 million USD in 2007 to 1,696 million USD in 2014. The negative trend accelerated sharply after 2010, with the trade deficit increasing by 12% annually in 2010-2015.
Source: IndexBox AI Platform
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