U.S.: Motor And Generator Market 2024

Motor And Generator Market Size in the U.S.

In 2023, after two years of growth, there was decline in the U.S. motor and generator market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Motor and generator consumption peaked at $X in 2022, and then dropped modestly in the following year.

Motor And Generator Production in the U.S.

In value terms, motor and generator production stood at $X in 2023. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Motor and generator production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

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Motor And Generator Exports

Exports from the U.S.

In 2023, shipments abroad of motors and generators decreased by X% to X units, falling for the third consecutive year after two years of growth. In general, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of X units. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, motor and generator exports stood at $X in 2023. Over the period under review, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Mexico (X units) was the main destination for motor and generator exports from the United States, with a X% share of total exports. Moreover, motor and generator exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), ninefold. The third position in this ranking was taken by China (X units), 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, the largest markets for motor and generator exported from the United States were Mexico ($X), Canada ($X) and South Korea ($X), together comprising X% of total exports. Germany, China, the UK, Australia, Japan, Italy and India lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Germany, with a CAGR of X%, recorded the highest growth rate of 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 motor and generator export price stood at $X per unit in 2023, increasing by X% against the previous year. Over the period under review, the export price, however, faced a deep downturn. The most prominent rate of growth was recorded in 2022 an increase of X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

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

Motor And Generator Imports

Imports into the U.S.

In 2023, after four years of growth, there was significant decline in supplies from abroad of motors and generators, when their volume decreased by X% to X units. In general, total imports indicated a tangible expansion from 2013 to 2023: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X units in 2022, and then contracted in the following year.

In value terms, motor and generator imports amounted to $X in 2023. Overall, total imports indicated a strong expansion from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in the immediate term.

Imports by Country

Mexico (X units), China (X units) and Vietnam (X units) were the main suppliers of motor and generator imports to the United States, together comprising X% of total imports. Japan, Switzerland, Canada, Germany, South Korea, India, Thailand, Taiwan (Chinese), the Philippines and Austria lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the biggest increases were recorded for Canada (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average motor and generator import price amounted to $X per unit, surging by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

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 ($X per unit), while the price for the Philippines ($X per unit) 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