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U.S. - Suspension Systems - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSuspension System Import in United States Shrinks to $444M in April 2023
U.S. Suspension System Imports
In April 2023, approximately 32K tons of suspension systems were imported into the United States; increasing by 1.5% on March 2023 figures. In general, imports, however, saw a mild downturn. The most prominent rate of growth was recorded in March 2023 with an increase of 12% m-o-m.
In value terms, suspension system imports declined modestly to $444M (IndexBox estimates) in April 2023. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when imports increased by 17% month-to-month. As a result, imports reached the peak of $502M. From September 2022 to April 2023, the growth of imports remained at a lower figure.
COUNTRY | Import Value of Suspension System in U.S. (million USD) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | |
Mexico | 141 | 173 | 162 | 151 | 190 | 188 | 180 | 162 | 152 | 172 | 172 | 186 | 170 |
China | 81.7 | 90.0 | 81.9 | 93.2 | 99.8 | 87.1 | 87.5 | 85.3 | 73.7 | 87.1 | 68.3 | 62.2 | 71.9 |
Canada | 53.5 | 62.0 | 62.0 | 47.4 | 61.2 | 59.1 | 63.7 | 46.9 | 60.4 | 59.6 | 59.8 | 64.5 | 58.5 |
South Korea | 26.9 | 23.2 | 26.4 | 24.8 | 24.4 | 25.9 | 27.7 | 24.4 | 26.6 | 26.4 | 25.3 | 28.3 | 26.9 |
Germany | 15.5 | 20.4 | 17.2 | 15.5 | 22.1 | 24.8 | 23.7 | 21.7 | 24.2 | 28.7 | 27.2 | 28.0 | 26.8 |
Japan | 34.0 | 32.9 | 22.7 | 26.5 | 21.8 | 26.8 | 27.0 | 27.5 | 28.3 | 24.6 | 16.6 | 22.5 | 21.0 |
Taiwan (Chinese) | 20.2 | 24.0 | 20.5 | 19.0 | 20.9 | 17.4 | 23.5 | 22.4 | 24.2 | 22.5 | 17.4 | 14.8 | 15.3 |
Turkey | 7.7 | 7.4 | 8.5 | 6.5 | 7.3 | 8.0 | 8.1 | 7.2 | 6.6 | 8.0 | 7.6 | 6.8 | 7.2 |
India | 7.3 | 9.5 | 6.4 | 6.5 | 10.7 | 9.2 | 9.6 | 9.3 | 7.9 | 11.2 | 8.6 | 8.0 | 7.1 |
Romania | 1.6 | 1.8 | 1.6 | 2.3 | 2.0 | 2.5 | 2.9 | 2.0 | 2.3 | 2.6 | 2.6 | 2.6 | 2.3 |
Spain | 1.6 | 2.5 | 2.8 | 2.3 | 2.9 | 2.4 | 2.0 | 2.4 | 1.9 | 2.1 | 1.8 | 2.1 | 1.9 |
Others | 29.8 | 34.5 | 28.7 | 35.7 | 38.4 | 43.7 | 46.1 | 36.5 | 29.7 | 40.8 | 38.4 | 36.3 | 35.1 |
Total | 421 | 481 | 441 | 430 | 502 | 495 | 501 | 448 | 438 | 485 | 446 | 462 | 444 |
Imports by Country
Mexico (6.8K tons), China (6.7K tons) and Japan (5.6K tons) were the main suppliers of suspension system imports to the United States, with a combined 61% share of total imports. These countries were followed by South Korea, Canada, Germany, India, Taiwan (Chinese), Spain, Romania and Turkey, which together accounted for a further 34%.
From April 2022 to April 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +0.8%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Mexico ($170M) constituted the largest supplier of suspension system to the United States, comprising 38% of total imports. The second position in the ranking was taken by China ($72M), with a 16% share of total imports. It was followed by Canada, with a 13% share.
From April 2022 to April 2023, the average monthly growth rate of value from Mexico totaled +1.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-1.1% per month) and Canada (+0.8% per month).
Import Prices by Country
In April 2023, the suspension system price stood at $14,073 per ton (CIF, US), declining by -5.4% against the previous month. Over the period from April 2022 to April 2023, it increased at an average monthly rate of +1.5%. The pace of growth was the most pronounced in February 2023 an increase of 9.3% m-o-m. As a result, import price reached the peak level of $16,139 per ton. From March 2023 to April 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($34,631 per ton), while the price for Spain ($3,348 per ton) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Germany (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the suspension system market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29323050 - Suspension systems and parts thereof (including shock absorbers)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023