Northern America: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Northern America

The North American iron or steel leaf-spring market amounted to $X in 2023, standing approx. at the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in Northern America

In value terms, iron or steel leaf-spring production expanded rapidly to $X in 2023 estimated in export price. In general, production, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2023, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports in Northern America

In 2023, overseas shipments of iron or steel leaf-springs and leaves decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2022, and then reduced in the following year.

In value terms, iron or steel leaf-spring exports declined modestly to $X in 2023. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then dropped in the following year.

Exports by Country

The shipments of the two major exporters of iron or steel leaf-springs and leaves, namely the United States and Canada, represented more than two-thirds of total export.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%).

In value terms, the largest iron or steel leaf-spring supplying countries in Northern America were Canada ($X) and the United States ($X).

The United States, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2023, the export price in Northern America amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

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

Imports of Iron or Steel Leaf-Springs and Leaves

Imports in Northern America

Iron or steel leaf-spring imports reduced to X tons in 2023, with a decrease of X% on 2022 figures. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, iron or steel leaf-spring imports reached $X in 2023. The total import 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 throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

The United States dominates imports structure, recording X tons, which was near X% of total imports in 2023. It was distantly followed by Canada (X tons), constituting a X% share of total imports.

Imports into the United States decreased at an average annual rate of X% from 2012 to 2023. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2023. While the share of Canada (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of the United States (X p.p.) displayed negative dynamics.

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

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

Import Prices by Country

In 2023, the import price in Northern America amounted to $X per ton, rising 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 2021 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the immediate term.

Average prices varied somewhat 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 amounted to $X per ton.

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

Source: IndexBox Platform