U.S.: Market for Steering Wheels, Steering Columns And Steering Boxes 2025

Market Size for Steering Wheels, Steering Columns And Steering Boxes in the U.S.

The U.S. steering wheels and columns market stood at $X in 2022, increasing by 6% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Steering wheels and columns consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in the U.S.

In value terms, steering wheels and columns production expanded sharply to $X in 2022. Over the period under review, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.7% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 44% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from the U.S.

In 2022, shipments abroad of steering wheels, steering columns and steering boxes decreased by -8.7% to X tons, falling for the seventh year in a row after four years of growth. Over the period under review, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 22%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, steering wheels and columns exports shrank slightly to $X in 2022. Overall, exports showed a mild decrease. The pace of growth was the most pronounced in 2013 when exports increased by 22% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for steering wheels and columns exports from the United States, with a 79% share of total exports. Moreover, steering wheels and columns exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), ninefold. The third position in this ranking was held by China (X tons), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-19.5% per year) and China (+1.4% per year).

In value terms, Mexico ($X) remains the key foreign market for steering wheels, steering columns and steering boxes exports from the United States, comprising 58% of total exports. The second position in the ranking was held by Canada ($X), with a 29% share of total exports. It was followed by China, with a 2% share.

From 2012 to 2022, the average annual growth rate of value to Mexico totaled +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-6.4% per year) and China (+1.8% per year).

Export Prices by Country

The average steering wheels and columns export price stood at $X per ton in 2022, surging by 6.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 23%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($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 (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into the U.S.

In 2022, approx. X tons of steering wheels, steering columns and steering boxes were imported into the United States; shrinking by -5.9% on the year before. Overall, imports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 13%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, steering wheels and columns imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 13% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), Mexico (X tons) and China (X tons) were the main suppliers of steering wheels and columns imports to the United States, with a combined 64% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +6.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to the United States, comprising 60% of total imports. The second position in the ranking was taken by China ($X), with an 8.9% share of total imports. It was followed by Japan, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value from Mexico amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.6% per year) and Japan (-6.4% per year).

Import Prices by Country

The average steering wheels and columns import price stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steering wheels and columns import price increased by +83.7% against 2016 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 56%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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