Price for Electric Motors; of an Output Not Exceeding 37.5W in the United States - 2024
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in the United States (CIF) - 2024
- Price for Electric Motors; of an Output Not Exceeding 37.5W in the United States (FOB) - 2024
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in the United States
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in the United States
Price for Electric Motors; of an Output Not Exceeding 37.5W in the United States (CIF) - 2024
In December 2023, the average import price for electric motors amounted to $7.1 per unit, stabilizing at the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 an increase of 19% against the previous month. As a result, import price reached the peak level of $8.2 per unit. From April 2023 to December 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Switzerland ($14.7 per unit), while the price for Vietnam ($2.2 per unit) was amongst the lowest.
From February 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in the United States (FOB) - 2024
In December 2023, the average export price for electric motors amounted to $23.1 per unit, growing by 4.4% against the previous month. Over the last ten months, it increased at an average monthly rate of +2.0%. The pace of growth was the most pronounced in August 2023 when the average export price increased by 12% month-to-month. As a result, the export price attained the peak level of $23.9 per unit. From September 2023 to December 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Canada ($54.8 per unit), while the average price for exports to the Netherlands ($12.6 per unit) was amongst the lowest.
From February 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in the United States
In 2022, the amount of electric motors imported into the United States stood at 335M units, increasing by 13% compared with 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the near future.
In value terms, imports of electric motors expanded to $2.3B in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 13% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 616 | 505 | 568 | 638 | 1.2% |
| China | 480 | 385 | 431 | 441 | -2.8% |
| Switzerland | 172 | 176 | 201 | 208 | 6.5% |
| Japan | 187 | 153 | 148 | 170 | -3.1% |
| South Korea | 149 | 119 | 118 | 129 | -4.7% |
| Vietnam | 51.7 | 72.3 | 104 | 94.6 | 22.3% |
| Thailand | 89.0 | 71.6 | 81.5 | 78.2 | -4.2% |
| Austria | 49.6 | 31.5 | 45.1 | 55.7 | 3.9% |
| Philippines | 75.6 | 55.4 | 53.7 | 43.8 | -16.6% |
| Others | 355 | 343 | 415 | 394 | 3.5% |
| Total | 2,225 | 1,912 | 2,164 | 2,253 | 0.4% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to the United States in 2022:
- China (98.2M units)
- Mexico (71.1M units)
- Vietnam (50.8M units)
- Japan (23.9M units)
- Thailand (21.6M units)
- South Korea (16.0M units)
- Switzerland (11.8M units)
- Austria (10.2M units)
- Philippines (6.3M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in the United States
In 2022, approx. 33M units of electric motors were exported from the United States; declining by -4.9% against 2021. In general, exports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2021 when exports increased by 16% against the previous year. The exports peaked at 36M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, exports of electric motors expanded remarkably to $654M in 2022. Over the period under review, exports showed a perceptible downturn. Over the period under review, the exports of attained the peak figure at $694M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 222 | 182 | 188 | 180 | -6.8% |
| Canada | 149 | 134 | 142 | 170 | 4.5% |
| Germany | 27.2 | 21.8 | 24.2 | 28.8 | 1.9% |
| China | 25.5 | 27.2 | 28.4 | 28.2 | 3.4% |
| Netherlands | 18.8 | 16.4 | 23.9 | 20.8 | 3.4% |
| United Kingdom | 35.3 | 24.3 | 25.1 | 19.8 | -17.5% |
| Singapore | 27.1 | 17.1 | 19.1 | 18.0 | -12.7% |
| Japan | 36.0 | 25.3 | 20.1 | 13.6 | -27.7% |
| Brazil | 11.7 | 6.9 | 8.5 | 10.1 | -4.8% |
| Hungary | 7.9 | 6.0 | 8.6 | 10.1 | 8.5% |
| Others | 134 | 128 | 133 | 154 | 4.7% |
| Total | 694 | 589 | 620 | 654 | -2.0% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from the United States in 2022:
- Mexico (13.8M units)
- Canada (4.4M units)
- Netherlands (1.8M units)
- Hungary (1.6M units)
- Germany (1.3M units)
- China (1.2M units)
- United Kingdom (0.9M units)
- Japan (0.6M units)
- Brazil (0.5M units)
- Singapore (0.5M units)
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