Store → Fabricated Metal Products → Other Fabricated Metal Products → Steel Springs And Leaves For Springs

Latest Report Update: Nov 24, 2022

U.S. - Steel Springs and Leaves for Springs - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$499 Basic Edition $1995 Professional Edition

What's the difference?

U.S.: Steel Spring Market 2022

Steel Spring Market Size in the U.S.

In 2021, the U.S. steel spring market increased by 7.7% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Steel spring consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Steel Spring Production in the U.S.

In value terms, steel spring production reached $X in 2021. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 8.8% against the previous year. Steel spring production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Steel Spring Exports

Exports from the U.S.

In 2021, shipments abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt contraction. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Canada (X tons) and China (X tons) were the main destinations of steel spring exports from the United States, with a combined 88% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of -1.0%), while the other leaders experienced a decline.

In value terms, Mexico ($X) remains the key foreign market for steel spring exports from the United States, comprising 43% of total exports. The second position in the ranking was taken by Canada ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico stood at +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-3.3% per year) and China (+13.1% per year).

Export Prices by Country

In 2021, the average steel spring export price amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, steel spring export price increased by +98.1% against 2012 indices. The most prominent rate of growth was recorded in 2015 an increase of 29%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($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 China (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into the U.S.

After two years of decline, overseas purchases of steel springs and leaves for springs increased by 23% to X tons in 2021. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, steel spring imports soared to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) constituted the largest steel spring supplier to the United States, with a 54% share of total imports. Moreover, steel spring imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by Canada (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.2% per year) and Canada (-0.6% per year).

In value terms, Mexico ($X) constituted the largest supplier of steel spring to the United States, comprising 49% of total imports. The second position in the ranking was taken by Canada ($X), with an 11% share of total imports. It was followed by China, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-1.6% per year) and China (+8.5% per year).

Import Prices by Country

The average steel spring import price stood at $X per ton in 2021, picking up by 8.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year	Historical Period	Forecast Period	Units
2022	2012-2022	2023-2030	US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for steel springs and leaves for springs in the world?

The countries with the highest volumes of consumption in 2021 were Ethiopia, China and the United States, with a combined 64% share of global consumption.

What are the largest producers of steel springs and leaves for springs in the world?

The countries with the highest volumes of production in 2021 were Ethiopia, China and the United States, together comprising 63% of global production.

What are the leading suppliers of steel springs and leaves for springs to the U.S.?

In value terms, Mexico constituted the largest supplier of steel spring to the United States, comprising 49% of total imports. The second position in the ranking was held by Canada, with an 11% share of total imports. It was followed by China, with a 9.6% share.

What are the leading importers of steel springs and leaves for springs from the U.S.?

In value terms, Mexico remains the key foreign market for steel spring exports from the United States, comprising 43% of total exports. The second position in the ranking was taken by Canada, with a 21% share of total exports.

What is the average export price for steel springs and leaves for springs in the U.S.?

The average steel spring export price stood at $6,201 per ton in 2021, growing by 12% against the previous year.

What is the average import price for steel springs and leaves for springs in the U.S.?

In 2021, the average steel spring import price amounted to $2,926 per ton, with an increase of 8.7% against the previous year.

This report provides an in-depth analysis of the steel spring 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.

Product coverage:

• Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor

• Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor

• Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor

• Prodcom 25931631 - Iron or steel hot-worked helical springs

• Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs

• Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs

• Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)

• Prodcom 25931653 - Iron or steel flat spiral springs

• Prodcom 25931655 - Iron or steel discs springs

• Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)

Country coverage:

• United States

Data coverage:

• Market volume and value

• Per Capita consumption

• Forecast of the market dynamics in the medium term

• Trade (exports and imports) in the U.S.

• Export and import prices

• Market trends, drivers and restraints

• Key market players and their profiles

Reasons to buy this report:

• Take advantage of the latest data

• Find deeper insights into current market developments

• Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

1. How to diversify your business and benefit from new market opportunities

2. How to load your idle production capacity

3. How to boost your sales on overseas markets

4. How to increase your profit margins

5. How to make your supply chain more sustainable

6. How to reduce your production and supply chain costs

7. How to outsource production to other countries

8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1

REPORT DESCRIPTION

1.2

RESEARCH METHODOLOGY AND AI PLATFORM

1.3

DATA-DRIVEN DECISIONS FOR YOUR BUSINESS

1.4

REPORT DESCRIPTION

2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance