Northern America: Transmission Shaft Market 2024

Transmission Shaft Market Size in Northern America

The North American transmission shaft market expanded slightly to $X in 2022, picking up by 2.4% against the previous year. Over the period under review, consumption recorded a perceptible setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Transmission Shaft Production in Northern America

In value terms, transmission shaft production expanded slightly to $X in 2022 estimated in export price. In general, production saw a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Transmission Shaft Exports

Exports in Northern America

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exported in Northern America soared to X tons, picking up by 22% compared with the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 33%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, transmission shaft exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 27% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

The United States represented the largest exporter of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Northern America, with the volume of exports finishing at X tons, which was approx. 81% of total exports in 2022. It was distantly followed by Canada (X tons), mixing up a 19% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain. Canada experienced a relatively flat trend pattern. While the share of Canada (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-1.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest transmission shaft supplier in Northern America, comprising 86% of total exports. The second position in the ranking was held by Canada ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +3.6%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, reducing by -3.2% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, transmission shaft export price increased by +53.6% against 2017 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 44%. The level of export peaked at $X per ton in 2021, and then contracted slightly 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 ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%).

Transmission Shaft Imports

Imports in Northern America

In 2022, overseas purchases of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 5.9% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 18%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, transmission shaft imports rose notably to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 31%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The United States represented the key importer of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Northern America, with the volume of imports amounting to X tons, which was near 82% of total imports in 2022. It was distantly followed by Canada (X tons), making up an 18% share of total imports.

Imports into the United States increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Canada (+4.5%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.5% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Northern America, comprising 76% of total imports. The second position in the ranking was held by Canada ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +2.3%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, rising by 5.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 21%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-0.4%).

Source: IndexBox Platform

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