Northern America: Steel Spring Market 2025

Steel Spring Market Size in Northern America

In 2021, the North American steel spring market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Steel Spring Production in Northern America

In value terms, steel spring production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 8.4% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Steel Spring Exports

Exports in Northern America

In 2021, shipments abroad of steel springs and leaves for springs increased by 11% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a abrupt downturn. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports soared to $X in 2021. The total export value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States was the key exporter of steel springs and leaves for springs in Northern America, with the volume of exports resulting at X tons, which was near 78% of total exports in 2021. It was distantly followed by Canada (X tons), creating a 22% share of total exports.

Exports from the United States decreased at an average annual rate of -5.5% from 2012 to 2021. Canada (-2.8%) illustrated a downward trend over the same period. While the share of Canada (+4.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United States (-4.2 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest steel spring supplier in Northern America, comprising 80% of total exports. The second position in the ranking was held by Canada ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +2.0%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, surging by 9% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, steel spring export price increased by +81.7% against 2012 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by 23%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.9%).

Steel Spring Imports

Imports in Northern America

In 2021, purchases abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, steel spring imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the main importing country with an import of around X tons, which resulted at 86% of total imports. It was distantly followed by Canada (X tons), constituting a 14% share of total imports.

The United States was also the fastest-growing in terms of the steel springs and leaves for springs imports, with a CAGR of +2.0% from 2012 to 2021. Canada (-2.6%) illustrated a downward trend over the same period. The United States (+5.7 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -5.7% from 2012 to 2021, respectively.

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

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to +2.7%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, rising by 8.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+1.8%).

Source: IndexBox Platform

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