U.S.: Market for Motor Vehicle Electrical And Electronic Equipment 2024

Market Size for Motor Vehicle Electrical And Electronic Equipment in the U.S.

For the third consecutive year, the U.S. market for motor vehicle electrical and electronic equipment recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Motor Vehicle Electrical And Electronic Equipment in the U.S.

In value terms, production of motor vehicle electrical and electronic equipment shrank slightly 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 consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production of attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Motor Vehicle Electrical And Electronic Equipment

Exports from the U.S.

Exports of motor vehicle electrical and electronic equipment from the United States was estimated at X units in 2022, picking up by X% on 2021 figures. Overall, total exports indicated a temperate increase from 2013 to 2022: its volume 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 decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, exports of motor vehicle electrical and electronic equipment skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units) was the main destination for exports of motor vehicle electrical and electronic equipment from the United States, with a X% share of total exports. Moreover, exports of motor vehicle electrical and electronic equipment to Mexico exceeded the volume sent to the second major destination, Canada (X units), threefold. China (X units) ranked third in terms of total exports with a X% share.

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

In value terms, the largest markets for motor vehicle electrical and electronic equipment exported from the United States were Mexico ($X), Canada ($X) and China ($X), with a combined X% share of total exports. Germany, the UK, Japan, Australia, India, the United Arab Emirates, Belgium, Hong Kong SAR, Peru and the Philippines lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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 export price for motor vehicle electrical and electronic equipment amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a slight decline. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Motor Vehicle Electrical And Electronic Equipment

Imports into the U.S.

In 2022, overseas purchases of motor vehicle electrical and electronic equipment increased by X% to X units, rising for the fourth year in a row after two years of decline. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, imports of motor vehicle electrical and electronic equipment rose markedly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Mexico (X units) constituted the largest supplier of motor vehicle electrical and electronic equipment to the United States, accounting for a X% share of total imports. Moreover, imports of motor vehicle electrical and electronic equipment from Mexico exceeded the figures recorded by the second-largest supplier, Russia (X units), twofold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2013 to 2022, the average annual growth rate of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Japan (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of motor vehicle electrical and electronic equipment to the United States, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2013 to 2022, the average annual growth rate of value from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average import price for motor vehicle electrical and electronic equipment amounted to $X per unit, picking up by X% against the previous year. Overall, the import price, however, saw a deep setback. The growth pace was the most rapid in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained 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 unit), while the price for Russia (less than $X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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