Northern America: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Northern America

The North American market for vacuum pumps and air or gas compressors expanded significantly to $X in 2022, surging by 13% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Vacuum Pumps and Air or Gas Compressors in Northern America

In value terms, production of vacuum pumps and air or gas compressors rose markedly to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 28% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Northern America

In 2022, overseas shipments of vacuum pumps and air or gas compressors increased by 18% to X units for the first time since 2017, thus ending a four-year declining trend. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the exports of hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of vacuum pumps and air or gas compressors expanded sharply to $X in 2022. In general, exports, however, showed a perceptible decline. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States dominates compressors structure, reaching X units, which was near 95% of total exports in 2022. It was distantly followed by Canada (X units), achieving a 4.9% share of total exports.

The United States was also the fastest-growing in terms of the vacuum pumps and air or gas compressors exports, with a CAGR of +1.8% from 2012 to 2022. Canada experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest vacuum pump and air or gas compressor supplier in Northern America, comprising 90% of total exports. The second position in the ranking was held by Canada ($X), with a 9.6% share of total exports.

In the United States, exports of vacuum pumps and air or gas compressors decreased by an average annual rate of -2.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per unit, shrinking by -3.6% against the previous year. Over the period under review, the export price showed a perceptible slump. The most prominent rate of growth was recorded in 2017 when the export price increased by 7.7% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.3%).

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Northern America

In 2022, overseas purchases of vacuum pumps and air or gas compressors increased by 0.1% to X units, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 15%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, imports of vacuum pumps and air or gas compressors surged to $X in 2022. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 20%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The United States prevails in compressors structure, reaching X units, which was approx. 92% of total imports in 2022. It was distantly followed by Canada (X units), making up an 8.4% share of total imports.

The United States was also the fastest-growing in terms of the vacuum pumps and air or gas compressors imports, with a CAGR of +2.2% from 2012 to 2022. Canada experienced a relatively flat trend pattern. The United States (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -1.9% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Northern America, comprising 87% of total imports. The second position in the ranking was taken by Canada ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +4.6%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per unit, with an increase of 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.3%).

Source: IndexBox Platform

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