U.S.: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in the U.S.

After two years of growth, the U.S. metal solid fuel appliances market decreased by -10.3% to $X in 2022. In general, consumption, however, recorded a remarkable increase. As a result, consumption attained the peak level of $X, and then fell in the following year.

Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports from the U.S.

In 2022, shipments abroad of iron or steel solid fuel domestic appliances decreased by -22.7% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted tangible growth. The most prominent rate of growth was recorded in 2021 with an increase of 132%. As a result, the exports reached the peak of X units, and then dropped notably in the following year.

In value terms, metal solid fuel appliances exports expanded markedly to $X in 2022. Over the period under review, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +71.9% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 68% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Canada (X units) was the main destination for metal solid fuel appliances exports from the United States, with a 74% share of total exports. Moreover, metal solid fuel appliances exports to Canada exceeded the volume sent to the second major destination, Australia (X units), more than tenfold. Mexico (X units) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+21.1% per year) and Mexico (+29.3% per year).

In value terms, Canada ($X) remains the key foreign market for iron or steel solid fuel domestic appliances exports from the United States, comprising 75% of total exports. The second position in the ranking was held by Australia ($X), with a 5.3% share of total exports. It was followed by Japan, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+16.2% per year) and Japan (-11.5% per year).

Export Prices by Country

In 2022, the average metal solid fuel appliances export price amounted to $X per unit, picking up by 39% against the previous year. Overall, the export price, however, saw a mild shrinkage. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per unit) and Australia ($X per unit), while the average price for exports to Mexico ($X per unit) and France ($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 Canada (-0.6%), while the prices for the other major destinations experienced a decline.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports into the U.S.

In 2022, after four years of growth, there was significant decline in supplies from abroad of iron or steel solid fuel domestic appliances, when their volume decreased by -24.7% to X units. Overall, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 52%. As a result, imports reached the peak of X units, and then reduced notably in the following year.

In value terms, metal solid fuel appliances imports shrank to $X in 2022. In general, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 69% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of metal solid fuel appliances to the United States, accounting for a 90% share of total imports. Moreover, metal solid fuel appliances imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.9% per year) and Vietnam (+77.9% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel solid fuel domestic appliances to the United States, comprising 73% of total imports. The second position in the ranking was taken by India ($X), with a 3.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.1% per year) and Vietnam (+74.0% per year).

Import Prices by Country

The average metal solid fuel appliances import price stood at $X per unit in 2022, with an increase of 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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