U.S. Speed Changers, Industrial High-Speed Drives, And Gear Market. Analysis And Forecast to 2030
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)|
|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|
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.
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.
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
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, January 25th, 2022 @ 04:00 pm ET
Join our live webinar to get insights into the global printed circuit assembly market.
Thursday, April 29th, 2021 @ 04:00 pm ET
Join our live webinar to get insights into the global insulated wire and cable market.
Thursday, February 25th, 2021 @ 04:00 pm ET