Northern America: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Northern America

In 2022, the North American hydraulic cylinder and system market increased by 15% to $X, rising for the seventh year in a row after three years of decline. In general, consumption posted a prominent increase. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Production of Hydraulic Cylinders And Systems in Northern America

In value terms, hydraulic cylinder and system production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production saw a resilient expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 1,901%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Hydraulic Cylinders And Systems

Exports in Northern America

In 2022, the amount of hydraulic cylinders and systems exported in Northern America expanded notably to X units, growing by 12% on 2021. The total export volume increased at an average annual rate of +5.8% 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 2021 when exports increased by 23%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, hydraulic cylinder and system exports skyrocketed to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 27%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, the United States (X units) was the major exporter of hydraulic cylinders and systems, comprising 75% of total exports. It was distantly followed by Canada (X units), making up a 25% share of total exports.

The United States was also the fastest-growing in terms of the hydraulic cylinders and systems exports, with a CAGR of +6.3% from 2012 to 2022. At the same time, Canada (+4.5%) displayed positive paces of growth. While the share of the United States (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Canada (-3.3 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest hydraulic cylinder and system supplier in Northern America, comprising 78% of total exports. The second position in the ranking was taken by Canada ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +7.9%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per unit, growing by 7.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably 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 (+1.5%).

Imports of Hydraulic Cylinders And Systems

Imports in Northern America

In 2022, the amount of hydraulic cylinders and systems imported in Northern America skyrocketed to X units, rising by 26% on 2021. In general, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydraulic cylinder and system imports surged to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.1% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the largest importer of hydraulic cylinders and systems in Northern America, with the volume of imports reaching X units, which was near 79% of total imports in 2022. It was distantly followed by Canada (X units), creating a 21% share of total imports.

Imports into the United States increased at an average annual rate of +7.5% from 2012 to 2022. At the same time, Canada (+11.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +11.7% from 2012-2022. Canada (+5.7 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -5.7% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +4.7%.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, which is down by -2.8% against the previous year. In general, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2013 when the import price decreased by less than 0.1% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat 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 stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-2.7%).

Source: IndexBox Platform

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