U.S. Speed Changers, Industrial High-Speed Drives, And Gear Market. Analysis And Forecast to 2030
Report Update: Nov 1, 2024

U.S. Speed Changers, Industrial High-Speed Drives, And Gear Market. Analysis And Forecast to 2030

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Aug 21, 2023

China's June 2023 Export of Speed Changers Decreases to $533M

U.S. Speed Changer Exports

In 2021, approx. 92K 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 174K tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, speed changer exports soared to $3.1B (IndexBox estimates) 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 $3.3B. From 2015 to 2021, the growth of the exports failed to regain momentum. U.S. Speed Changer Exports By Country (Million USD)

COUNTRYExport Value of Speed Changer in U.S. (million USD)
Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023
United States11811493.191.288.276.073.086.551.692.071.788.788.0
India51.646.035.332.251.948.333.334.127.341.832.937.054.7
Germany37.854.444.844.235.134.333.832.423.032.032.829.337.7
Japan37.041.042.938.739.838.336.636.437.538.538.833.531.4
Russia14.716.919.919.719.017.619.424.819.324.427.725.728.7
Italy38.434.530.631.027.221.237.235.919.425.027.237.525.6
Brazil31.320.341.466.726.616.438.653.611.943.143.240.919.4
Others317332315292241270229274206290262249248
Total646659623616528522501578396587536542533

Exports by Country

Mexico (34K 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 (9.6K tons), threefold. The third position in this ranking was held by Canada (8.2K 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 ($983M), Mexico ($509M) and China ($242M) 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.

Exports by Type

Toothed wheels, chain sprockets and other transmission elements (6.5K tons) was the largest type of speed changer exported from the United States, with a 79% share of total exports. Moreover, toothed wheels, chain sprockets and other transmission elements exceeded the volume of the second product type, gearboxes and speed changers (1.7K tons), fourfold.

From January 2022 to October 2022, the average monthly growth rate of the volume of export of toothed wheels, chain sprockets and other transmission elements totaled +3.7%.

In value terms, the most traded types of speed changers, industrial high-speed drives and gear in the United States were gearboxes and speed changers ($180M) and toothed wheels, chain sprockets and other transmission elements ($147M).

Gearboxes and speed changers, with a CAGR of +3.4%, recorded the highest growth rate of the value of exports, in terms of the main product categories over the period under review.

Export Prices by Country

In June 2023, the speed changer price stood at $33,989 per ton in 2021 (FOB, US), 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 ($119,221 per ton), while the average price for exports to Mexico ($15,150 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.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the speed changer market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • NAICS 333612 - Speed changers, industrial high-speed drives, and gear manufacturing

Companies mentioned:

  • Nord Gear Corporation
  • Quad Plus
  • Cone Drive Operations
  • Sew-Eurodrive
  • Habasit America
  • Martin Sprocket & Gear
  • Columbia Gear Corporation
  • Amarillo Gear Company
  • C G I
  • Rexnord
  • The Horsburgh & Scott Co
  • The Gear Works Seattle
  • Cotta Transmission Company
  • Bunting Bearings
  • Precipart Corporation
  • United Gear & Assembly
  • Steward Machine Co.
  • Angelus Sanitary Can Machine Company
  • Overton Chicago Gear Corporation
  • Koellmann Gear Corporation
  • Carolina Keller
  • Brad Foote Gear Works
  • Westerman
  • Merit Gear
  • Perfection Gear
  • Linamar Forgings
  • Thunder Basin Corporation

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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