U.S.: Market for Mechanical Power Transmission Equipment 2024

Market Size for Mechanical Power Transmission Equipment in the U.S.

The U.S. mechanical power transmission equipment market was estimated at $X in 2022, increasing by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Mechanical Power Transmission Equipment in the U.S.

In value terms, mechanical power transmission equipment production reduced to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2013 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Mechanical power transmission equipment production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Mechanical Power Transmission Equipment

Exports from the U.S.

In 2022, overseas shipments of mechanical power transmission equipment increased by X% to X tons, rising for the sixth consecutive year after two years of decline. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, mechanical power transmission equipment exports soared to $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Mexico (X tons), Canada (X tons) and Brazil (X tons) were the main destinations of mechanical power transmission equipment exports from the United States, together accounting for X% of total exports. China, the UK, Germany, Malaysia, Singapore, Japan and France lagged somewhat behind, together accounting for a further X%.

From 2013 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mechanical power transmission equipment exported from the United States were Canada ($X), Mexico ($X) and China ($X), with a combined X% share of total exports. Brazil, Germany, the UK, France, Japan, Singapore and Malaysia lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mechanical power transmission equipment export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price continues to indicate a deep setback. The pace of growth was the most pronounced in 2014 an increase of X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Malaysia ($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 Canada (X%), while the prices for the other major destinations experienced a decline.

Imports of Mechanical Power Transmission Equipment

Imports into the U.S.

In 2022, approx. X tons of mechanical power transmission equipment were imported into the United States; with an increase of X% against the previous year. In general, imports showed resilient growth. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, mechanical power transmission equipment imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of mechanical power transmission equipment to the United States, with a X% share of total imports. Moreover, mechanical power transmission equipment imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, China ($X), Japan ($X) and Germany ($X) were the largest mechanical power transmission equipment suppliers to the United States, together accounting for X% of total imports. Canada, Mexico, India, Italy, South Korea and Brazil lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, saw 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

The average mechanical power transmission equipment import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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