U.S.: Boiler Parts Market 2023

Boiler Parts Market Size in the U.S.

The U.S. boiler parts market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, recorded a slight downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Boiler Parts Production in the U.S.

In value terms, boiler parts production reached $X in 2021. In general, production, however, continues to indicate a slight downturn. The pace of growth was the most pronounced in 2017 with an increase of 2.4% against the previous year. Boiler parts production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Boiler Parts Exports

Exports from the U.S.

In 2021, exports of parts of boilers for central heating from the United States soared to X tons, rising by 41% compared with the previous year. In general, exports, however, recorded a deep slump. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, boiler parts exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a mild shrinkage. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for boiler parts exports from the United States, with a 43% share of total exports. Moreover, boiler parts exports to South Korea exceeded the volume sent to the second major destination, Canada (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea stood at +58.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-24.5% per year) and the Netherlands (+9.3% per year).

In value terms, Canada ($X) remains the key foreign market for parts of boilers for central heating exports from the United States, comprising 52% of total exports. The second position in the ranking was held by South Korea ($X), with a 19% share of total exports. It was followed by China, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+63.8% per year) and China (-3.2% per year).

Export Prices by Country

The average boiler parts export price stood at $X per ton in 2021, with a decrease of -4.1% against the previous year. In general, the export price, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 177% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+28.5%), while the prices for the other major destinations experienced more modest paces of growth.

Boiler Parts Imports

Imports into the U.S.

In 2021, imports of parts of boilers for central heating into the United States skyrocketed to X tons, rising by 22% on the year before. In general, imports, however, continue to indicate a mild decline. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, boiler parts imports soared to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 23%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Canada (X tons) and South Korea (X tons) were the main suppliers of boiler parts imports to the United States, together comprising 62% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +59.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), China ($X) and France ($X) constituted the largest boiler parts suppliers to the United States, with a combined 48% share of total imports. These countries were followed by Canada, South Korea, Poland, Germany, Italy, Belgium and Austria, which together accounted for a further 46%.

South Korea, with a CAGR of +62.1%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 boiler parts import price stood at $X per ton in 2021, waning by -1.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 an increase of 9.3%. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then fell slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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