Northern America: Steel Spring Market 2024

Steel Spring Market Size in Northern America

After two years of growth, the North American steel spring market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Steel Spring Production in Northern America

In value terms, steel spring production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Steel Spring Exports

Exports in Northern America

In 2023, after two years of growth, there was decline in overseas shipments of steel springs and leaves for springs, when their volume decreased by X% to X tons. Over the period under review, exports showed a perceptible decrease. The pace of growth was the most pronounced in 2021 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, steel spring exports reached $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

Exports by Country

In 2023, the United States (X tons) represented the key exporter of steel springs and leaves for springs, committing X% of total exports. It was distantly followed by Canada (X tons), mixing up a X% share of total exports.

Exports from the United States decreased at an average annual rate of X% from 2012 to 2023. Canada (X%) illustrated a downward trend over the same period. Canada (X p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United States ($X) remains the largest steel spring supplier in Northern America, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

In the United States, steel spring exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Northern America amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a buoyant expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, steel spring export price increased by X% against 2012 indices. The growth pace was the most rapid in 2015 an increase of X%. The level of export peaked in 2023 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%).

Steel Spring Imports

Imports in Northern America

In 2023, approx. X tons of steel springs and leaves for springs were imported in Northern America; declining by X% against 2022 figures. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, steel spring imports reduced modestly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then declined modestly in the following year.

Imports by Country

The United States was the major importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Canada (X tons), committing a X% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of steel springs and leaves for springs. Canada (X%) illustrated a downward trend over the same period. The United States (X p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United States ($X) constitutes the largest market for imported steel springs and leaves for springs in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with an X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in the United States totaled X%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2023, growing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of import peaked in 2023 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform