U.S.: Hose And Belt Market 2024

Hose And Belt Market Size in the U.S.

The U.S. hose and belt market expanded markedly to $X in 2022, with an increase of X% against the previous year. The market 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. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Hose And Belt Production in the U.S.

In value terms, hose and belt production declined slightly to $X in 2022. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Hose and belt production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Hose And Belt Exports

Exports from the U.S.

In 2022, shipments abroad of rubber and plastic hoses and belting increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, hose and belt exports rose notably to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. 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

Canada (X tons), Mexico (X tons) and China (X tons) were the main destinations of hose and belt exports from the United States, with a combined X% share of total exports.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X), Canada ($X) and China ($X) appeared to be the largest markets for hose and belt exported from the United States worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 hose and belt export price amounted to $X per ton, surging by X% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hose And Belt Imports

Imports into the U.S.

In 2022, purchases abroad of rubber and plastic hoses and belting increased by X% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a resilient increase from 2013 to 2022: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, hose and belt imports surged to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2013 to 2022: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Mexico (X tons) and Canada (X tons) were the main suppliers of hose and belt imports to the United States, together comprising X% of total imports. India, Taiwan (Chinese), Turkey, South Korea, Italy, Thailand, Vietnam, Japan and Germany lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest hose and belt suppliers to the United States were Mexico ($X), China ($X) and Canada ($X), together accounting for X% of total imports. Japan, Germany, India, Taiwan (Chinese), Italy, Turkey, South Korea, Thailand and Vietnam lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw 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

The average hose and belt import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 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 stood at a somewhat lower figure.

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 Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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