U.S.: Speed Changer Market 2024

Speed Changer Market Size in the U.S.

In 2021, the U.S. speed changer market increased by 19% 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 +2.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Speed Changer Production in the U.S.

In value terms, speed changer production shrank to $X in 2021. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 5.8% against the previous year. Speed changer production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

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Speed Changer Exports

Exports from the U.S.

In 2021, approx. X tons of speed changers, industrial high-speed drives and gear were exported from the United States; with an increase of 4.5% compared with 2020 figures. Over the period under review, exports, however, continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 32% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, speed changer exports soared to $X in 2021. The total export value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 23% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for speed changer exports from the United States, with a 36% share of total exports. Moreover, speed changer exports to Mexico exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by Canada (X tons), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+2.1% per year) and Canada (-13.8% per year).

In value terms, Canada ($X), Mexico ($X) and China ($X) were the largest markets for speed changer exported from the United States worldwide, together accounting for 55% of total exports. Germany, Brazil, Chile, Australia, Belgium, Singapore, Japan, France, the UK and India lagged somewhat behind, together accounting for a further 27%.

In terms of the main countries of destination, Germany, with a CAGR of +7.7%, 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 more modest paces of growth.

Export Prices by Country

The average speed changer export price stood at $X per ton in 2021, picking up by 11% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, speed changer export price increased by +85.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 67%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Mexico ($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 (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Speed Changer Imports

Imports into the U.S.

In 2021, the amount of speed changers, industrial high-speed drives and gear imported into the United States skyrocketed to X tons, increasing by 38% on 2020 figures. Overall, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, speed changer imports soared to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of speed changer to the United States, accounting for a 31% share of total imports. Moreover, speed changer imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.8% per year) and Germany (+2.2% per year).

In value terms, China ($X), Germany ($X) and Japan ($X) constituted the largest speed changer suppliers to the United States, with a combined 46% share of total imports. Italy, India, Mexico, South Korea, Canada, Spain, Taiwan (Chinese), Belgium and Vietnam lagged somewhat behind, together accounting for a further 40%.

Among the main suppliers, Vietnam, with a CAGR of +39.5%, recorded 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

In 2021, the average speed changer import price amounted to $X per ton, with a decrease of -11.7% against the previous year. In general, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 1.9%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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