U.S.: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in the U.S.

The U.S. cranks and crankshafts market reduced to $X in 2022, which is down by -2.5% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Production in the U.S.

In value terms, cranks and crankshafts production dropped modestly to $X in 2022. The total output value increased at an average annual rate of +2.6% 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 2017 when the production volume increased by 14%. Cranks and crankshafts production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Cranks And Crankshafts Exports

Exports from the U.S.

In 2022, shipments abroad of cranks and crankshafts increased by 24% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +5.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cranks and crankshafts exports skyrocketed to $X in 2022. Overall, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +47.0% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Canada (X tons) and Brazil (X tons) were the main destinations of cranks and crankshafts exports from the United States, with a combined 59% share of total exports. China, Germany, the UK, Malaysia, Singapore, Japan and France lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +46.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and China ($X) appeared to be the largest markets for cranks and crankshafts exported from the United States worldwide, with a combined 54% share of total exports. Brazil, France, Germany, the UK, Malaysia, Singapore and Japan lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Malaysia, with a CAGR of +44.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cranks and crankshafts export price amounted to $X per ton, dropping by -5.4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 14% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into the U.S.

Cranks and crankshafts imports into the United States fell to X tons in 2022, with a decrease of -7.3% against 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 46% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cranks and crankshafts imports stood at $X in 2022. The total import value increased at an average annual rate of +3.5% 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 imports increased by 20% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

China (X tons), Mexico (X tons) and South Korea (X tons) were the main suppliers of cranks and crankshafts imports to the United States, together comprising 58% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +13.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Germany ($X) appeared to be the largest cranks and crankshafts suppliers to the United States, with a combined 38% share of total imports. Mexico, India, Canada, Brazil and South Korea lagged somewhat behind, together comprising a further 38%.

Mexico, with a CAGR of +8.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cranks and crankshafts import price stood at $X per ton in 2022, rising by 19% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranks and crankshafts import price increased by +4.8% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 35% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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