U.S.: Current-Carrying Wiring Device Market 2024

Current-Carrying Wiring Device Market Size in the U.S.

In 2022, the U.S. current-carrying wiring device market increased by 33% to $X, rising for the third consecutive year after six years of decline. Overall, consumption enjoyed a strong increase. Current-carrying wiring device consumption peaked in 2022 and is expected to retain growth in the immediate term.

Current-Carrying Wiring Device Production in the U.S.

In value terms, current-carrying wiring device production reached $X in 2022. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 5.1%. Current-carrying wiring device production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Current-Carrying Wiring Device Exports

Exports from the U.S.

After three years of growth, overseas shipments of current-carrying wiring devices decreased by -4.8% to X tons in 2022. Overall, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 221% against the previous year. The exports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, current-carrying wiring device exports soared to $X in 2022. The total export value increased at an average annual rate of +2.6% over the period from 2013 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for current-carrying wiring device exports from the United States, accounting for a 63% share of total exports. Moreover, current-carrying wiring device exports to Mexico exceeded the volume sent to the second major destination, China (X tons), ninefold. The third position in this ranking was taken by Canada (X tons), with a 3.7% share.

From 2013 to 2022, the average annual growth rate of volume to Mexico stood at +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+9.5% per year) and Canada (+54.0% per year).

In value terms, Mexico ($X) remains the key foreign market for current-carrying wiring devices exports from the United States, comprising 47% of total exports. The second position in the ranking was taken by Canada ($X), with a 15% share of total exports. It was followed by China, with a 5% share.

From 2013 to 2022, the average annual growth rate of value to Mexico totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.8% per year) and China (+3.4% per year).

Export Prices by Country

In 2022, the average current-carrying wiring device export price amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+28.3%), while the prices for the other major destinations experienced mixed trend patterns.

Current-Carrying Wiring Device Imports

Imports into the U.S.

In 2022, supplies from abroad of current-carrying wiring devices increased by 30% to X tons, rising for the third consecutive year after six years of decline. In general, imports showed a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of 334% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, current-carrying wiring device imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +4.7% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Mexico (X tons) and Japan (X tons) were the main suppliers of current-carrying wiring device imports to the United States, with a combined 52% share of total imports. Germany, Taiwan (Chinese), South Korea, Greece, Canada, Switzerland, Malaysia, France and the UK lagged somewhat behind, together comprising a further 34%.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +333.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), China ($X) and Germany ($X) appeared to be the largest current-carrying wiring device suppliers to the United States, with a combined 58% share of total imports. Japan, Taiwan (Chinese), South Korea, France, Switzerland, Canada, the UK, Malaysia and Greece lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, Malaysia, with a CAGR of +13.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average current-carrying wiring device import price amounted to $X per ton, shrinking by -11.5% against the previous year. Over the period under review, the import price saw a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 27% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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