U.S.: Steel Railway Material Market 2024

Steel Railway Material Market Size in the U.S.

After two years of decline, the U.S. steel railway material market increased by X% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Steel Railway Material Production in the U.S.

In value terms, steel railway material production amounted to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2012 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 2019 with an increase of X% against the previous year. Steel railway material production peaked at $X in 2020; afterwards, it flattened through to 2022.

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Steel Railway Material Exports

Exports from the U.S.

In 2022, overseas shipments of railway or tramway track construction material of iron or steel increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel railway material exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for steel railway material exports from the United States, accounting for a X% share of total exports. Moreover, steel railway material exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), twofold. Colombia (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 Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Colombia (X% per year).

In value terms, Canada ($X) remains the key foreign market for railway or tramway track construction material of iron or steel exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by Colombia, 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 Colombia (X% per year).

Export Prices by Country

In 2022, the average steel railway material export price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Mexico ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into the U.S.

In 2022, overseas purchases of railway or tramway track construction material of iron or steel were finally on the rise to reach X tons for the first time since 2015, thus ending a six-year declining trend. In general, imports, however, continue to indicate a abrupt slump. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, steel railway material imports surged to $X in 2022. Overall, imports, however, recorded a deep contraction. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), the Czech Republic (X tons) and China (X tons) were the main suppliers of steel railway material imports to the United States, together accounting for X% of total imports. Canada, India, Australia, Spain and Italy 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 a decline.

In value terms, the largest steel railway material suppliers to the United States were Japan ($X), China ($X) and India ($X), together comprising X% of total imports.

India, with a CAGR of X%, 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 mixed trend patterns.

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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