Northern America: Gear Box Market 2025

Gear Box Market Size in Northern America

The North American gear box market expanded markedly to $X in 2022, with an increase of 7.8% against the previous year. Overall, consumption recorded a strong expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Gear Box Production in Northern America

In value terms, gear box production rose markedly to $X in 2022 estimated in export price. In general, production recorded prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 44%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Gear Box Exports

Exports in Northern America

In 2022, shipments abroad of gear boxes increased by 25% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a perceptible contraction. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, gear box exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States was the largest exporting country with an export of about X units, which accounted for 79% of total exports. It was distantly followed by Canada (X units), making up a 21% share of total exports.

Exports from the United States decreased at an average annual rate of -3.0% from 2012 to 2022. At the same time, Canada (+3.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +3.4% from 2012-2022. Canada (+8.7 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -8.7% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest gear box supplier in Northern America, comprising 85% of total exports. The second position in the ranking was taken by Canada ($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 totaled +2.6%.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, reducing by -7.9% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 an increase of 52%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then dropped in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada 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 (+5.8%).

Gear Box Imports

Imports in Northern America

In 2022, supplies from abroad of gear boxes increased by 15% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 23%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, gear box imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) represented the main importer of gear boxes, mixing up 82% of total imports. It was distantly followed by Canada (X units), mixing up an 18% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of gear boxes. Canada (-5.1%) illustrated a downward trend over the same period. While the share of the United States (+10 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-10.2 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported gear boxes in Northern America, comprising 84% of total imports. The second position in the ranking was held by Canada ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +1.7%.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, surging by 4% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada 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 (+1.2%).

Source: IndexBox Platform

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