U.S.: Market for Railway Or Tramway Track Construction Material Of Iron Or Steel 2024

Market Size for Railway Or Tramway Track Construction Material Of Iron Or Steel in the U.S.

The U.S. market for railway or tramway track construction material of iron or steel declined to $X in 2021, with a decrease of -7.1% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Production of Railway Or Tramway Track Construction Material Of Iron Or Steel in the U.S.

In value terms, production of railway or tramway track construction material of iron or steel shrank slightly to $X in 2021. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 9%. Over the period under review, production of reached the peak level at $X in 2020, and then dropped in the following year.

Exports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Exports from the U.S.

In 2021, overseas shipments of railway or tramway track construction material of iron or steel were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, saw a pronounced shrinkage. Over the period under review, the exports of attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, exports of railway or tramway track construction material of iron or steel soared to $X in 2021. Overall, exports, however, recorded a noticeable decrease. Over the period under review, the exports of reached the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons), Mexico (X tons) and Brazil (X tons) were the main destinations of exports of railway or tramway track construction material of iron or steel from the United States, with a combined 97% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +2.1%), while the other leaders experienced a decline.

In value terms, Canada ($X) remains the key foreign market for railway or tramway track construction material of iron or steel exports from the United States, comprising 63% of total exports. The second position in the ranking was held by Mexico ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-2.9% per year) and Brazil (-33.9% per year).

Export Prices by Country

The average export price for railway or tramway track construction material of iron or steel stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 8.5%. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+15.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Imports into the U.S.

For the sixth year in a row, the United States recorded decline in supplies from abroad of railway or tramway track construction material of iron or steel, which decreased by -22.6% to X tons in 2021. Overall, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 10% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of railway or tramway track construction material of iron or steel shrank to $X in 2021. Over the period under review, imports recorded a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 3.1% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of iron and steel railway construction materials to the United States, accounting for a 37% share of total imports. Moreover, imports of railway or tramway track construction material of iron or steel from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Canada (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan totaled -16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.2% per year) and Canada (-17.5% per year).

In value terms, Japan ($X), China ($X) and India ($X) constituted the largest iron and steel railway construction materials suppliers to the United States, with a combined 56% share of total imports.

In terms of the main suppliers, India, with a CAGR of +5.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for railway or tramway track construction material of iron or steel stood at $X per ton in 2021, surging by 24% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 India ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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