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U.S. - Suspension Systems - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

U.S. - Suspension Systems - Market Analysis, Forecast, Size, Trends And Insights

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Jun 18, 2023

Suspension System Import in United States Shrinks to $444M in April 2023

U.S. Suspension System Imports

In April 2023, approximately 32K tons of suspension systems were imported into the United States; increasing by 1.5% on March 2023 figures. In general, imports, however, saw a mild downturn. The most prominent rate of growth was recorded in March 2023 with an increase of 12% m-o-m.

In value terms, suspension system imports declined modestly to $444M (IndexBox estimates) in April 2023. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when imports increased by 17% month-to-month. As a result, imports reached the peak of $502M. From September 2022 to April 2023, the growth of imports remained at a lower figure.

COUNTRYImport Value of Suspension System in U.S. (million USD)
Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023
Mexico141173162151190188180162152172172186170
China81.790.081.993.299.887.187.585.373.787.168.362.271.9
Canada53.562.062.047.461.259.163.746.960.459.659.864.558.5
South Korea26.923.226.424.824.425.927.724.426.626.425.328.326.9
Germany15.520.417.215.522.124.823.721.724.228.727.228.026.8
Japan34.032.922.726.521.826.827.027.528.324.616.622.521.0
Taiwan (Chinese)20.224.020.519.020.917.423.522.424.222.517.414.815.3
Turkey7.77.48.56.57.38.08.17.26.68.07.66.87.2
India7.39.56.46.510.79.29.69.37.911.28.68.07.1
Romania1.61.81.62.32.02.52.92.02.32.62.62.62.3
Spain1.62.52.82.32.92.42.02.41.92.11.82.11.9
Others29.834.528.735.738.443.746.136.529.740.838.436.335.1
Total421481441430502495501448438485446462444

Imports by Country

Mexico (6.8K tons), China (6.7K tons) and Japan (5.6K tons) were the main suppliers of suspension system imports to the United States, with a combined 61% share of total imports. These countries were followed by South Korea, Canada, Germany, India, Taiwan (Chinese), Spain, Romania and Turkey, which together accounted for a further 34%.

From April 2022 to April 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +0.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($170M) constituted the largest supplier of suspension system to the United States, comprising 38% of total imports. The second position in the ranking was taken by China ($72M), with a 16% share of total imports. It was followed by Canada, with a 13% share.

From April 2022 to April 2023, the average monthly growth rate of value from Mexico totaled +1.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-1.1% per month) and Canada (+0.8% per month).

Import Prices by Country

In April 2023, the suspension system price stood at $14,073 per ton (CIF, US), declining by -5.4% against the previous month. Over the period from April 2022 to April 2023, it increased at an average monthly rate of +1.5%. The pace of growth was the most pronounced in February 2023 an increase of 9.3% m-o-m. As a result, import price reached the peak level of $16,139 per ton. From March 2023 to April 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Canada ($34,631 per ton), while the price for Spain ($3,348 per ton) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Germany (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the suspension system 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:

  • Prodcom 29323050 - Suspension systems and parts thereof (including shock absorbers)

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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