U.S.: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in the U.S.

For the third consecutive year, the U.S. gearboxes and speed changers market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Gearboxes and speed changers consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Gearboxes and Speed Changers in the U.S.

In value terms, gearboxes and speed changers production expanded slightly to $X in 2022. In general, production saw a mild reduction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Gearboxes and speed changers production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Gearboxes and Speed Changers

Exports from the U.S.

In 2022, after two years of decline, there was significant growth in overseas shipments of gearboxes and speed changers, when their volume increased by X% to X tons. Over the period under review, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 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 2014 with an increase of X%. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

Mexico (X tons) was the main destination for gearboxes and speed changers exports from the United States, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to Mexico exceeded the volume sent to the second major destination, Brazil (X tons), fourfold. Canada (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Canada (X% per year).

In value terms, Canada ($X) remains the key foreign market for gearboxes and speed changers exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into the U.S.

For the ninth consecutive year, the United States recorded growth in supplies from abroad of gearboxes and speed changers, which increased by X% to X tons in 2022. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, gearboxes and speed changers imports rose to $X in 2022. The total import value increased at an average annual rate of X% from 2012 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 X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of gearboxes and speed changers imports to the United States, together comprising X% of total imports. India, Taiwan (Chinese), Mexico, Canada, Italy, France, South Korea and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Italy ($X) and Germany ($X) appeared to be the largest gearboxes and speed changers suppliers to the United States, together comprising X% of total imports. Japan, India, Taiwan (Chinese), Mexico, Canada, France, South Korea and Belgium lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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