U.S.: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in the U.S.

In 2022, the U.S. hydraulic cylinder and system market increased by 13% to $X, rising for the sixth year in a row after four years of decline. Overall, consumption posted a buoyant expansion. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Production of Hydraulic Cylinders And Systems in the U.S.

In value terms, hydraulic cylinder and system production surged to $X in 2022. Overall, production posted a buoyant increase. Hydraulic cylinder and system production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hydraulic Cylinders And Systems

Exports from the U.S.

In 2022, hydraulic cylinder and system exports from the United States rose sharply to X units, increasing by 7.8% against the previous year. In general, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 +31.3% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 23%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, hydraulic cylinder and system exports skyrocketed to $X in 2022. Overall, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.9% 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 +52.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 26%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Canada (X units) was the main destination for hydraulic cylinder and system exports from the United States, accounting for a 17% share of total exports. Moreover, hydraulic cylinder and system exports to Canada exceeded the volume sent to the second major destination, the UK (X units), twofold. The third position in this ranking was taken by Mexico (X units), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+11.5% per year) and Mexico (+5.3% per year).

In value terms, Canada ($X) remains the key foreign market for hydraulic cylinders and systems exports from the United States, comprising 17% of total exports. The second position in the ranking was taken by the UK ($X), with an 8.1% share of total exports. It was followed by Mexico, with an 8% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+13.2% per year) and Mexico (+7.0% per year).

Export Prices by Country

In 2022, the average hydraulic cylinder and system export price amounted to $X per unit, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Norway ($X per unit) and Mexico ($X per unit), while the average price for exports to Australia ($X per unit) and Singapore ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into the U.S.

In 2022, the amount of hydraulic cylinders and systems imported into the United States soared to X units, picking up by 21% against the year before. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.2% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by 22%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, hydraulic cylinder and system imports soared to $X in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Canada (X units), China (X units) and South Korea (X units) were the main suppliers of hydraulic cylinder and system imports to the United States, together accounting for 39% of total imports. Japan, the UK, Germany, Mexico, France, India, the Philippines and Italy lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +26.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), China ($X) and South Korea ($X) appeared to be the largest hydraulic cylinder and system suppliers to the United States, together accounting for 40% of total imports. Japan, the UK, Germany, Mexico, France, India, the Philippines and Italy lagged somewhat behind, together comprising a further 47%.

India, with a CAGR of +22.9%, recorded 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

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, approximately reflecting the previous year. Over the period under review, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 an increase of 0.1%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Philippines ($X per unit) and Mexico ($X per unit), while the price for Italy ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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