Northern America: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in Northern America

In 2021, after three years of decline, there was significant growth in the North American market for toothed wheels, chain sprockets and other transmission elements, when its value increased by 23% to $X. In general, consumption, however, continues to indicate a deep downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Toothed wheels, chain sprockets and other transmission elements in Northern America

In value terms, production of toothed wheels, chain sprockets and other transmission elements contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 38% against the previous year. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports in Northern America

In 2021, the amount of toothed wheels, chain sprockets and other transmission elements exported in Northern America amounted to X tons, surging by 13% compared with the year before. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 22%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. 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 major exporting country with an export of about X tons, which amounted to 90% of total exports. It was distantly followed by Canada (X tons), mixing up a 10% share of total exports.

The United States was also the fastest-growing in terms of the toothed wheels, chain sprockets and other transmission elements exports, with a CAGR of +2.7% from 2012 to 2021. Canada experienced a relatively flat trend pattern. From 2012 to 2021, the share of the United States increased by +2.7 percentage points.

In value terms, the United States ($X) remains the largest toothed wheels, chain sprockets and other transmission elements supplier in Northern America, comprising 87% of total exports. The second position in the ranking was taken by Canada ($X), with a 13% share of total exports.

In the United States, exports of toothed wheels, chain sprockets and other transmission elements expanded at an average annual rate of +2.4% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, growing by 2.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 24%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+1.4%).

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports in Northern America

Imports of toothed wheels, chain sprockets and other transmission elements surged to X tons in 2021, growing by 42% on the year before. In general, imports posted a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 43%. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States dominates elements structure, recording X tons, which was near 91% of total imports in 2021. It was distantly followed by Canada (X tons), committing a 9.4% share of total imports.

The United States was also the fastest-growing in terms of the toothed wheels, chain sprockets and other transmission elements imports, with a CAGR of +13.2% from 2012 to 2021. At the same time, Canada (+4.2%) displayed positive paces of growth. The United States (+8.5 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -8.5% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported toothed wheels, chain sprockets and other transmission elements in Northern America, comprising 81% of total imports. The second position in the ranking was held by Canada ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to +1.3%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, shrinking by -9.7% against the previous year. Overall, the import price saw a abrupt downturn. The pace of growth was the most pronounced in 2014 an increase of 5.4%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by Canada (-3.2%).

Source: IndexBox Platform

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