Northern America: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Northern America

The North American cranks and crankshafts market fell modestly to $X in 2022, with a decrease of -2.4% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in Northern America

In value terms, cranks and crankshafts production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 14%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports in Northern America

In 2022, shipments abroad of cranks and crankshafts increased by 26% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +5.4% from 2012 to 2022; 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.

In value terms, cranks and crankshafts exports soared to $X in 2022. The total export value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States represented the main exporting country with an export of about X tons, which finished at 88% of total exports. It was distantly followed by Canada (X tons), making up a 12% share of total exports.

The United States was also the fastest-growing in terms of the cranks and crankshafts exports, with a CAGR of +5.9% from 2012 to 2022. At the same time, Canada (+2.7%) displayed positive paces of growth. The United States (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by -3.5% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest cranks and crankshafts supplier in Northern America, comprising 85% of total exports. The second position in the ranking was held by Canada ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +5.6%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, reducing by -5.7% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by 13%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.3%).

Cranks And Crankshafts Imports

Imports in Northern America

In 2022, approx. X tons of cranks and crankshafts were imported in Northern America; which is down by -5.4% compared with 2021. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 40%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cranks and crankshafts imports reached $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 15% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The United States represented the key importing country with an import of about X tons, which finished at 85% of total imports. It was distantly followed by Canada (X tons), creating a 15% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of cranks and crankshafts. At the same time, Canada (+3.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +3.4% from 2012-2022. While the share of Canada (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-3.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported cranks and crankshafts in Northern America, comprising 78% of total imports. The second position in the ranking was taken by Canada ($X), with a 22% share of total imports.

In the United States, cranks and crankshafts imports expanded at an average annual rate of +3.5% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, growing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2014 an increase of 33%. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.8%).

Source: IndexBox Platform

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