U.S.: Public Works Machinery Market 2024

Public Works Machinery Market Size in the U.S.

The U.S. public works machinery market surged to $X in 2021, with an increase of 54% against the previous year. Over the period under review, consumption showed resilient growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Public Works Machinery Production in the U.S.

In value terms, public works machinery production skyrocketed to $X in 2021. Overall, production, however, showed a pronounced decrease. Public works machinery production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Public Works Machinery Exports

Exports from the U.S.

In 2021, overseas shipments of machinery for public works and building were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, public works machinery exports expanded rapidly to $X in 2021. Overall, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for public works machinery exports from the United States, with a 40% share of total exports. Moreover, public works machinery exports to Canada exceeded the volume sent to the second major destination, South Korea (X units), fivefold. The third position in this ranking was held by Australia (X units), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+2.3% per year) and Australia (+1.0% per year).

In value terms, Canada ($X) remains the key foreign market for machinery for public works and building exports from the United States, comprising 40% of total exports. The second position in the ranking was held by Australia ($X), with a 7.7% share of total exports. It was followed by Mexico, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+0.8% per year) and Mexico (-5.1% per year).

Export Prices by Country

The average public works machinery export price stood at $X per unit in 2021, growing by 5.3% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 26% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into the U.S.

For the fourth year in a row, the United States recorded growth in overseas purchases of machinery for public works and building, which increased by 33% to X units in 2021. In general, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, public works machinery imports soared to $X in 2021. Over the period under review, imports posted a prominent expansion. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest public works machinery supplier to the United States, with a 48% share of total imports. Moreover, public works machinery imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Canada (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.7% per year) and Canada (+21.4% per year).

In value terms, Germany ($X) constituted the largest supplier of machinery for public works and building to the United States, comprising 79% of total imports. The second position in the ranking was held by Canada ($X), with a 6.3% share of total imports. It was followed by Italy, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+8.8% per year) and Italy (+2.9% per year).

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, surging by 2.1% against the previous year. Over the period under review, the import price, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 24%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+25.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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