Miscellaneous Engine Equipment Price in the United States - 2023
Contents:
- Miscellaneous Engine Equipment Price in the United States (CIF) - 2023
- Miscellaneous Engine Equipment Price in the United States (FOB) - 2023
- Miscellaneous Engine Equipment Imports in the United States
- Miscellaneous Engine Equipment Exports in the United States
Miscellaneous Engine Equipment Price in the United States (CIF) - 2023
The average miscellaneous engine equipment import price stood at $41.7 per unit in August 2023, with an increase of 3.7% against the previous month. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in May 2023 when the average import price increased by 6.7% against the previous month. As a result, import price reached the peak level of $42.9 per unit. From June 2023 to August 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Japan ($182 per unit), while the price for Taiwan (Chinese) ($17.2 per unit) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the UK (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Miscellaneous Engine Equipment Price in the United States (FOB) - 2023
The average miscellaneous engine equipment export price stood at $53.8 per unit in August 2023, picking up by 2.9% against the previous month. Overall, the export price, however, recorded a slight contraction. The most prominent rate of growth was recorded in July 2023 an increase of 7% m-o-m. Over the period under review, the average export prices attained the peak figure at $61.0 per unit in August 2022; however, from September 2022 to August 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($78.1 per unit), while the average price for exports to Colombia ($18.6 per unit) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.
Miscellaneous Engine Equipment Imports in the United States
In 2022, imports of miscellaneous engine equipment into the United States soared to 383M units, with an increase of 16% compared with the previous year. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 942%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.
In value terms, miscellaneous engine equipment imports expanded markedly to $15.6B in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Miscellaneous Engine Equipment in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3.8 | 2.7 | 3.6 | 4.1 | 2.6% |
| Mexico | 2.6 | 2.1 | 2.5 | 2.9 | 3.7% |
| Germany | 1.9 | 1.4 | 1.6 | 1.8 | -1.8% |
| China | 1.4 | 1.2 | 1.5 | 1.7 | 6.7% |
| Italy | 0.5 | 0.4 | 0.9 | 0.7 | 11.9% |
| India | 0.4 | 0.3 | 0.4 | 0.6 | 14.5% |
| United Kingdom | 0.7 | 0.5 | 0.6 | 0.6 | -5.0% |
| Brazil | 0.4 | 0.3 | 0.4 | 0.5 | 7.7% |
| Canada | 0.4 | 0.3 | 0.3 | 0.4 | 0.0% |
| South Korea | 0.4 | 0.3 | 0.3 | 0.4 | 0.0% |
| Sweden | 0.2 | 0.1 | 0.2 | 0.2 | 0.0% |
| Taiwan (Chinese) | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Others | 1.4 | 1.2 | 1.4 | 1.6 | 4.6% |
| Total | 14.3 | 11.0 | 13.8 | 15.6 | 2.9% |
Top Suppliers of Miscellaneous Engine Equipment to the United States in 2022:
- Mexico (72.7M units)
- China (72.5M units)
- Germany (54.1M units)
- India (29.6M units)
- Japan (27.6M units)
- Brazil (24.9M units)
- Canada (19.1M units)
- South Korea (11.6M units)
- Italy (9.2M units)
- Taiwan (Chinese) (7.0M units)
- Sweden (6.8M units)
- United Kingdom (6.3M units)
Miscellaneous Engine Equipment Exports in the United States
In 2022, the amount of miscellaneous engine equipment exported from the United States expanded notably to 243M units, increasing by 9.3% on 2021. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 5,578%. The exports peaked in 2022 and are likely to continue growth in years to come.
In value terms, miscellaneous engine equipment exports expanded rapidly to $14B in 2022. The total export value increased at an average annual rate of +2.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 18%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
| Export of Miscellaneous Engine Equipment in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 5,941 | 4,597 | 5,869 | 5,798 | -0.8% |
| Canada | 2,001 | 1,530 | 1,703 | 2,808 | 12.0% |
| China | 719 | 743 | 677 | 668 | -2.4% |
| Belgium | 376 | 327 | 418 | 437 | 5.1% |
| Australia | 365 | 357 | 381 | 427 | 5.4% |
| United Kingdom | 321 | 237 | 290 | 357 | 3.6% |
| Brazil | 254 | 210 | 294 | 356 | 11.9% |
| Germany | 338 | 270 | 313 | 353 | 1.5% |
| India | 199 | 247 | 218 | 234 | 5.5% |
| Japan | 175 | 147 | 168 | 231 | 9.7% |
| Singapore | 143 | 108 | 117 | 144 | 0.2% |
| Thailand | 44.4 | 26.4 | 87.5 | 105 | 33.2% |
| Colombia | 85.5 | 57.7 | 75.8 | 95.9 | 3.9% |
| Others | 2,095 | 1,638 | 1,765 | 1,938 | -2.6% |
| Total | 13,056 | 10,495 | 12,377 | 13,952 | 2.2% |
Top Export Markets for Miscellaneous Engine Equipment from the United States in 2022:
- Canada (59.7M units)
- Mexico (50.3M units)
- China (11.2M units)
- India (9.6M units)
- Germany (9.4M units)
- Australia (8.6M units)
- Belgium (8.4M units)
- United Kingdom (6.3M units)
- Brazil (5.8M units)
- Japan (5.7M units)
- Singapore (5.3M units)
- Colombia (4.0M units)
- Thailand (3.9M units)
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