Northern America: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in Northern America

The North American underground continuous-action elevator market fell to $X in 2021, with a decrease of -7.4% against the previous year. Over the period under review, consumption showed a noticeable decline. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Underground Continuous-Action Elevator Production in Northern America

In value terms, underground continuous-action elevator production declined to $X in 2021 estimated in export price. Overall, production recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 16%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Underground Continuous-Action Elevator Exports

Exports in Northern America

In 2021, shipments abroad of underground continuous-action elevators and conveyors increased by 65% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 197%. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, underground continuous-action elevator exports skyrocketed to $X in 2021. In general, exports, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2016 when exports increased by 227%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the United States (X units), distantly followed by Canada (X units) represented the main exporters of underground continuous-action elevators and conveyors, together achieving 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of -8.1%).

In value terms, the United States ($X) remains the largest underground continuous-action elevator supplier in Northern America, comprising 88% of total exports. The second position in the ranking was taken by Canada ($X), with a 12% share of total exports.

In the United States, underground continuous-action elevator exports plunged by an average annual rate of -1.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per unit, surging by 63% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of 85%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United States (+20.3%).

Underground Continuous-Action Elevator Imports

Imports in Northern America

In 2021, overseas purchases of underground continuous-action elevators and conveyors decreased by -17.2% to X units, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2016 with an increase of 245%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, underground continuous-action elevator imports contracted dramatically to $X in 2021. Overall, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 139%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Canada was the key importing country with an import of about X units, which accounted for 77% of total imports. It was distantly followed by the United States (X units), committing a 23% share of total imports.

Canada was also the fastest-growing in terms of the underground continuous-action elevators and conveyors imports, with a CAGR of +11.4% from 2012 to 2021. The United States (-14.5%) illustrated a downward trend over the same period. While the share of Canada (+53 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United States (-53.3 p.p.) displayed negative dynamics.

In value terms, Canada ($X) constitutes the largest market for imported underground continuous-action elevators and conveyors in Northern America, comprising 70% of total imports. The second position in the ranking was taken by the United States ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Canada amounted to +6.0%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per unit, reducing by -16.6% against the previous year. Overall, the import price continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2020 when the import price increased by 52%. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United States (-0.8%).

Source: IndexBox Platform

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