U.S.: Market for Motor Vehicle Brake Systems 2024

Market Size for Motor Vehicle Brake Systems in the U.S.

In 2023, after two years of growth, there was decline in the U.S. motor vehicle brake system market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then declined in the following year.

Production of Motor Vehicle Brake Systems in the U.S.

In value terms, motor vehicle brake system production declined to $X in 2023. The total output value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

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Exports of Motor Vehicle Brake Systems

Exports from the U.S.

In 2023, shipments abroad of motor vehicle brake systems decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, motor vehicle brake system exports rose remarkably to $X in 2023. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for motor vehicle brake system exports from the United States, with a X% share of total exports. Moreover, motor vehicle brake system exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), sixfold. China (X tons) ranked third in terms of total exports with a X% share.

From 2013 to 2023, the average annual growth rate of volume to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and China (X% per year).

In value terms, Mexico ($X), Canada ($X) and China ($X) constituted the largest markets for motor vehicle brake system exported from the United States worldwide, together comprising X% of total exports.

Among the main countries of destination, Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2023, the average motor vehicle brake system export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, continues to indicate a drastic downturn. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.

Imports of Motor Vehicle Brake Systems

Imports into the U.S.

After two years of growth, purchases abroad of motor vehicle brake systems decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, motor vehicle brake system imports declined modestly to $X in 2023. In general, total imports indicated a pronounced increase from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest motor vehicle brake system supplier to the United States, with a X% share of total imports. Moreover, motor vehicle brake system imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was held by India (X tons), with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and India (X% per year).

In value terms, Mexico ($X), China ($X) and India ($X) appeared to be the largest motor vehicle brake system suppliers to the United States, together comprising X% of total imports.

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

Import Prices by Country

The average motor vehicle brake system import price stood at $X per ton in 2023, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform