U.S.: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in the U.S.

The U.S. gearboxes and speed changers market amounted to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Production of Gearboxes and Speed Changers in the U.S.

In value terms, gearboxes and speed changers production reduced slightly to $X in 2022. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from the U.S.

In 2022, overseas shipments of gearboxes and speed changers increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; 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 X%. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

Mexico (X tons) was the main destination for gearboxes and speed changers exports from the United States, with a X% share of total exports. Moreover, gearboxes and speed changers exports to Mexico exceeded the volume sent to the second major destination, Brazil (X tons), fourfold. Canada (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Canada (X% per year).

In value terms, Canada ($X) remains the key foreign market for gearboxes and speed changers exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average gearboxes and speed changers export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price showed a strong increase. The growth pace was the most rapid in 2020 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Austria ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into the U.S.

For the ninth consecutive year, the United States recorded growth in overseas purchases of gearboxes and speed changers, which increased by X% to X tons in 2022. Over the period under review, imports posted buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, gearboxes and speed changers imports rose modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of gearboxes and speed changers imports to the United States, together comprising X% of total imports. India, Taiwan (Chinese), Mexico, Canada, Italy, France, South Korea and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gearboxes and speed changers suppliers to the United States were China ($X), Italy ($X) and Germany ($X), together comprising X% of total imports. Japan, India, Taiwan (Chinese), Mexico, Canada, France, South Korea and Belgium lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 gearboxes and speed changers import price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the import price recorded a abrupt descent. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Belgium ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :