U.S.: Hose And Belt Market 2024

Hose And Belt Market Size in the U.S.

For the third year in a row, the U.S. hose and belt market recorded growth in sales value, which increased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2023 and is expected to retain growth in the near future.

Hose And Belt Production in the U.S.

In value terms, hose and belt production declined modestly to $X in 2023. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X%. Hose and belt production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

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Hose And Belt Exports

Exports from the U.S.

In 2023, shipments abroad of rubber and plastic hoses and belting decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, hose and belt exports rose slightly to $X in 2023. The total export value increased at an average annual rate of X% from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

Canada (X tons), Mexico (X tons) and Brazil (X tons) were the main destinations of hose and belt exports from the United States, with a combined X% share of total exports.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for hose and belt exported from the United States were Mexico ($X), Canada ($X) and China ($X), with a combined X% share of total exports.

Among the main countries of destination, China, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average hose and belt export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a measured increase from 2013 to 2023: its price 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, hose and belt export price increased by X% against 2014 indices. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2023 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 China ($X per ton), while the average price for exports to Canada ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hose And Belt Imports

Imports into the U.S.

In 2023, purchases abroad of rubber and plastic hoses and belting decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, total imports indicated a measured expansion from 2013 to 2023: its volume 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 growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2022, and then reduced in the following year.

In value terms, hose and belt imports reduced modestly to $X in 2023. In general, total imports indicated measured growth 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 most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2022, and then fell slightly in the following year.

Imports by Country

Mexico (X tons), China (X tons) and Canada (X tons) were the main suppliers of hose and belt imports to the United States, together comprising X% of total imports. India, Taiwan (Chinese), Turkey, Italy, South Korea, Vietnam, Japan, Germany and Thailand lagged somewhat behind, together comprising a further X%.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hose and belt suppliers to the United States were Mexico ($X), China ($X) and Canada ($X), together accounting for X% of total imports. Japan, Germany, India, Italy, Taiwan (Chinese), South Korea, Turkey, Thailand and Vietnam lagged somewhat behind, together comprising a further X%.

Vietnam, 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 more modest paces of growth.

Import Prices by Country

In 2023, the average hose and belt import price amounted to $X per ton, rising by X% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform