U.S.: Working Wire Machine Market 2024

Working Wire Machine Market Size in the U.S.

In 2021, the U.S. working wire machine market decreased by -1.4% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Working Wire Machine Production in the U.S.

In value terms, working wire machine production declined modestly to $X in 2021. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 7.5% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Working Wire Machine Exports

Exports from the U.S.

In 2021, overseas shipments of machines for working wire increased by 131% to X units, rising for the second year in a row after two years of decline. In general, exports, however, saw a noticeable reduction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, working wire machine exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decline. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X units) was the main destination for working wire machine exports from the United States, with a 68% share of total exports. Moreover, working wire machine exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), fivefold. The third position in this ranking was held by Germany (X units), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+17.8% per year) and Germany (-0.7% per year).

In value terms, Mexico ($X), Honduras ($X) and Canada ($X) appeared to be the largest markets for working wire machine exported from the United States worldwide, together comprising 63% of total exports.

Among the main countries of destination, Honduras, with a CAGR of +10.6%, 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 2021, the average working wire machine export price amounted to $X per unit, with a decrease of -38.5% against the previous year. Overall, the export price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 74%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Mexico ($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 Saudi Arabia (+6.0%), while the prices for the other major destinations experienced mixed trend patterns.

Working Wire Machine Imports

Imports into the U.S.

Working wire machine imports into the United States declined slightly to X units in 2021, which is down by -4% on the previous year's figure. Over the period under review, imports showed a slight decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 59%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, working wire machine imports soared to $X in 2021. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of working wire machine to the United States, accounting for a 48% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. Italy (X units) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.8% per year) and Italy (-0.7% per year).

In value terms, the largest working wire machine suppliers to the United States were Germany ($X), Switzerland ($X) and Italy ($X), with a combined 65% share of total imports. These countries were followed by China, Japan, France, Taiwan (Chinese), the UK, Spain and New Zealand, which together accounted for a further 30%.

China, with a CAGR of +21.1%, 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 2021, the average working wire machine import price amounted to $X per unit, with an increase of 37% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 58% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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