Price for Electric Motors; AC Motors, Single-Phase in the United States - 2023

Contents:

1. Price for Electric Motors; AC Motors, Single-Phase in the United States (CIF) - 2023
2. Price for Electric Motors; AC Motors, Single-Phase in the United States (FOB) - 2023
3. Imports of Electric Motors; AC Motors, Single-Phase in the United States
4. Exports of Electric Motors; AC Motors, Single-Phase in the United States

Price for Electric Motors; AC Motors, Single-Phase in the United States (CIF) - 2023

In July 2023, the average import price for electric motors; AC motors, single-phases amounted to $32.8 per unit, growing by 7.2% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.3%. The pace of growth appeared the most rapid in December 2022 when the average import price increased by 16% month-to-month. As a result, import price reached the peak level of $36.0 per unit. From January 2023 to July 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Mexico ($45.7 per unit), while the price for Malaysia ($12.3 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Electric Motors; AC Motors, Single-Phase in the United States (FOB) - 2023

In July 2023, the average export price for electric motors; AC motors, single-phases amounted to $74.8 per unit, declining by -1.9% against the previous month. Over the period under review, the export price saw a slight setback. The growth pace was the most rapid in February 2023 an increase of 4% month-to-month. The export price peaked at $94.2 per unit in September 2022; however, from October 2022 to July 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($90.3 per unit), while the average price for exports to Switzerland ($43.4 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+0.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Motors; AC Motors, Single-Phase in the United States

After three years of growth, overseas purchases of electric motors; AC motors, single-phases decreased by -7.8% to 68M units in 2022. The total import volume increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 10%. Over the period under review, imports hit record highs at 74M units in 2021, and then declined in the following year.

In value terms, electric motors; AC motors, single-phase imports expanded slightly to $1.9B in 2022. The total import value increased at an average annual rate of +8.3% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 23%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Electric Motors; AC Motors, Single-Phase to the United States in 2022:

1. China (20.8M units)
2. Mexico (20.6M units)
3. Vietnam (19.2M units)
4. Taiwan (Chinese) (2.4M units)
5. India (1.8M units)

Exports of Electric Motors; AC Motors, Single-Phase in the United States

In 2022, approx. 5M units of electric motors; AC motors, single-phases were exported from the United States; reducing by -1.8% on 2021. The total export volume increased at an average annual rate of +3.1% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 25%. As a result, the exports reached the peak of 5.1M units, and then shrank modestly in the following year.

In value terms, electric motors; AC motors, single-phase exports dropped slightly to $444M in 2022. The total export value increased at an average annual rate of +5.3% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 20% against the previous year. As a result, the exports attained the peak of $447M, leveling off in the following year.

Top Export Markets for Electric Motors; AC Motors, Single-Phase from the United States in 2022:

1. Canada (1950.0K units)
2. Mexico (1864.3K units)
3. Switzerland (163.2K units)
4. China (89.7K units)
5. France (83.6K units)

Source: IndexBox Market Intelligence Platform