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Report Update: Oct 1, 2023

U.S. Speed Changers, Industrial High-Speed Drives, And Gear Market. Analysis And Forecast to 2030

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Article Publishing Date: Jul 21, 2023

Price of Speed Changer in Mexico Soars by 20% to $16.4 per kg

U.S. Speed Changer Import Price in April 2023

In April 2023, the speed changer price amounted to $10,226 per ton (CIF, US), with a decrease of -11.7% against the previous year. In general, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 1.9%. The import price peaked at $21,909 per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($40,112 per ton), while the price for Vietnam ($3,735 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

COUNTRY	Import Price of Speed Changer in U.S. (USD per ton)
COUNTRY	Apr 2022	May 2022	Jun 2022	Jul 2022	Aug 2022	Sep 2022	Oct 2022	Nov 2022	Dec 2022	Jan 2023	Feb 2023	Mar 2023	Apr 2023
Japan	25,549	25,415	24,156	21,098	22,494	22,574	21,572	13,220	25,876	32,249	30,918	25,158	30,460
Germany	22,946	27,460	26,123	24,166	23,495	25,377	20,293	20,764	23,506	20,575	23,964	22,452	21,513
United States	16,628	16,111	17,664	17,651	17,359	16,773	17,118	13,554	18,257	18,089	17,073	18,139	17,991
Italy	16,245	17,305	11,045	15,328	12,702	13,201	17,484	16,635	15,265	16,586	17,953	22,313	16,423
Taiwan (Chinese)	12,730	14,078	12,415	12,830	13,563	14,009	15,608	17,956	16,311	16,035	13,896	16,249	15,485
Spain	21,764	18,254	18,567	19,850	18,901	13,029	13,258	16,361	17,532	15,891	16,295	19,851	14,798
South Korea	11,034	11,956	12,374	11,191	10,358	10,331	11,243	11,300	11,314	13,310	10,247	12,475	13,268
China	11,585	12,853	10,407	9,294	5,676	7,624	5,496	10,610	8,774	9,717	7,655	5,314	10,982
Brazil	10,239	11,892	8,682	11,041	9,798	9,391	9,978	8,265	10,746	10,394	12,394	11,999	10,818
India	9,066	7,310	6,102	6,509	10,483	5,855	7,353	7,304	7,839	9,720	7,314	6,829	7,689
Average	14,681	15,842	14,601	14,677	11,257	13,287	12,471	13,136	14,837	16,054	13,962	13,658	16,370

U.S. Speed Changer Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was gearboxes and speed changers ($16.6 per kg), while the price for toothed wheels, chain sprockets and other transmission elements amounted to $6,376 per ton.

From January 2022 to October 2022, the most notable rate of growth in terms of prices was attained by gearboxes and speed changers (+1.4%).

U.S. Speed Changer Imports

In 2021, the amount of speed changers, industrial high-speed drives and gear imported into the United States skyrocketed to 528K tons, increasing by 38% on 2020 figures. Overall, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, speed changer imports soared to $5.4B (IndexBox estimates) in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Imports peaked at $5.6B in 2019; however, from 2020 to 2021, imports remained at a lower figure.

U.S. Speed Changer Imports by Type

In October 2022, toothed wheels, chain sprockets and other transmission elements (34K tons) constituted the largest type of speed changer supplied to the United States, with a 67% share of total imports. Moreover, toothed wheels, chain sprockets and other transmission elements exceeded the figures recorded for the second-largest type, gearboxes and speed changers (17K tons), twofold.

From January 2022 to October 2022, the average monthly rate of growth in terms of the volume of import of toothed wheels, chain sprockets and other transmission elements stood at +5.9%.

In value terms, the most traded types of speed changers, industrial high-speed drives and gear in the United States were gearboxes and speed changers ($280M) and toothed wheels, chain sprockets and other transmission elements ($217M).

U.S. Speed Changer Imports by Country

In 2021, China (166K tons) constituted the largest supplier of speed changer to the United States, accounting for a 31% share of total imports. Moreover, speed changer imports from China exceeded the figures recorded by the second-largest supplier, Japan (64K tons), threefold. Germany (49K tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.8% per year) and Germany (+2.2% per year).

In value terms, China ($987M), Germany ($803M) and Japan ($669M) constituted the largest speed changer suppliers to the United States, with a combined 46% share of total imports. Italy, India, Mexico, South Korea, Canada, Spain, Taiwan (Chinese), Belgium and Vietnam lagged somewhat behind, together accounting for a further 40%.

Among the main suppliers, Vietnam, with a CAGR of +39.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the speed changer market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

• NAICS 333612 - Speed changers, industrial high-speed drives, and gear manufacturing

Companies mentioned:

• Nord Gear Corporation

• Quad Plus

• Cone Drive Operations

• Sew-Eurodrive

• Habasit America

• Martin Sprocket & Gear

• Columbia Gear Corporation

• Amarillo Gear Company

• C G I

• Rexnord

• The Horsburgh & Scott Co

• The Gear Works Seattle

• Cotta Transmission Company

• Bunting Bearings

• Precipart Corporation

• United Gear & Assembly

• Steward Machine Co.

• Angelus Sanitary Can Machine Company

• Overton Chicago Gear Corporation

• Koellmann Gear Corporation

• Carolina Keller

• Brad Foote Gear Works

• Westerman

• Merit Gear

• Perfection Gear

• Linamar Forgings

• Thunder Basin Corporation

Country coverage:

• United States

Data coverage:

• Market volume and value

• Per Capita consumption

• Forecast of the market dynamics in the medium term

• Trade (exports and imports) in the U.S.

• Export and import prices

• Market trends, drivers and restraints

• Key market players and their profiles

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

1. How to diversify your business and benefit from new market opportunities

2. How to load your idle production capacity

3. How to boost your sales on overseas markets

4. How to increase your profit margins

5. How to make your supply chain more sustainable

6. How to reduce your production and supply chain costs

7. How to outsource production to other countries

8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1

REPORT DESCRIPTION

1.2

RESEARCH METHODOLOGY AND AI PLATFORM

1.3

DATA-DRIVEN DECISIONS FOR YOUR BUSINESS

1.4

GLOSSARY AND SPECIFIC TERMS

2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1

KEY FINDINGS

2.2

MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1

MARKET SIZE

3.2

MARKET STRUCTURE

3.3

TRADE BALANCE

3.4

PER CAPITA CONSUMPTION

3.5

MARKET FORECAST TO 2030

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Finding New Products to Diversify Your Business

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4.1