U.S.: Market for Switchgear And Switchboard Apparatus 2024

Market Size for Switchgear And Switchboard Apparatus in the U.S.

The U.S. switchgear and switchboard apparatus market skyrocketed to $X in 2023, picking up by X% against the previous year. 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 hit record highs at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Production of Switchgear And Switchboard Apparatus in the U.S.

In value terms, switchgear and switchboard apparatus production fell modestly to $X in 2023. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Switchgear and switchboard apparatus production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

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Exports of Switchgear And Switchboard Apparatus

Exports from the U.S.

After two years of growth, overseas shipments of switchgear and switchboard apparatus decreased by X% to X units in 2023. Over the period under review, total exports indicated tangible growth 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, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum at X units in 2022, and then fell in the following year.

In value terms, switchgear and switchboard apparatus exports reached $X in 2023. The total export 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, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units) was the main destination for switchgear and switchboard apparatus exports from the United States, accounting for a X% share of total exports. Moreover, switchgear and switchboard apparatus exports to Mexico exceeded the volume sent to the second major destination, the Dominican Republic (X units), threefold. China (X units) ranked third in terms of total exports with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and China (X% per year).

In value terms, the largest markets for switchgear and switchboard apparatus exported from the United States were Mexico ($X), Canada ($X) and Germany ($X), together comprising X% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of X%, saw 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

The average switchgear and switchboard apparatus export price stood at $X per unit in 2023, with an increase of X% against the previous year. Overall, the export price, however, showed a slight shrinkage. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the Dominican Republic ($X per unit) was amongst the lowest.

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

Imports of Switchgear And Switchboard Apparatus

Imports into the U.S.

After six years of growth, overseas purchases of switchgear and switchboard apparatus decreased by X% to X units in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, switchgear and switchboard apparatus imports surged to $X in 2023. In general, total imports indicated a prominent 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 most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked in 2023 and are expected to retain growth in the near future.

Imports by Country

In 2023, Mexico (X units) constituted the largest supplier of switchgear and switchboard apparatus to the United States, with a X% share of total imports. Moreover, switchgear and switchboard apparatus imports from Mexico exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold. The third position in this ranking was taken by China (X units), with a X% share.

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

In value terms, Mexico ($X) constituted the largest supplier of switchgear and switchboard apparatus to the United States, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports. It was followed by China, with a X% share.

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

Import Prices by Country

The average switchgear and switchboard apparatus import price stood at $X per unit in 2023, rising by X% against the previous year. Over the period under review, import price indicated buoyant growth 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, switchgear and switchboard apparatus import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, average import prices attained the maximum in 2023 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 2023, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for India ($X per unit) 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