U.S.: Market for Fluid Power Valves And Hose Fittings 2024

Market Size for Fluid Power Valves And Hose Fittings in the U.S.

After two years of growth, the U.S. market for fluid power valves and hose fittings decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2022, and then contracted slightly in the following year.

Production of Fluid Power Valves And Hose Fittings in the U.S.

In value terms, production of fluid power valves and hose fittings fell modestly to $X in 2023. The total output value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. Production of peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

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Exports of Fluid Power Valves And Hose Fittings

Exports from the U.S.

In 2023, overseas shipments of fluid power valves and hose fittings increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of fluid power valves and hose fittings expanded markedly to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports of attained the peak figure in 2023 and are expected to retain growth in years to come.

Exports by Country

Mexico (X tons) was the main destination for exports of fluid power valves and hose fittings from the United States, accounting for a X% share of total exports. Moreover, exports of fluid power valves and hose fittings to Mexico exceeded the volume sent to the second major destination, Canada (X tons), sixfold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2013 to 2023, 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, Mexico ($X), Canada ($X) and the UK ($X) constituted the largest markets for fluid power valve and hose fitting exported from the United States worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Canada, 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

The average export price for fluid power valves and hose fittings stood at $X per ton in 2023, flattening at the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. The export price peaked at $X per ton in 2022, and then fell slightly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fluid Power Valves And Hose Fittings

Imports into the U.S.

In 2023, supplies from abroad of fluid power valves and hose fittings decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2013 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, imports of fluid power valves and hose fittings expanded to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to continue growth in the near future.

Imports by Country

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

From 2013 to 2023, 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, Mexico ($X), Germany ($X) and Japan ($X) were the largest fluid power valve and hose fitting suppliers to the United States, with a combined X% share of total imports. Italy, China, South Korea, Vietnam, France, India, Canada and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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 import price for fluid power valves and hose fittings stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform