U.S.: Market for Relay And Industrial Control 2024

Market Size for Relay And Industrial Control in the U.S.

The U.S. relay and industrial control market soared to $X in 2022, growing by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Relay And Industrial Control

Exports from the U.S.

Relay and industrial control exports from the United States expanded modestly to X tons in 2022, growing by 2.4% compared with the previous year. Overall, exports, however, showed a mild downturn. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, relay and industrial control exports soared to $X in 2022. The total export value increased at an average annual rate of +3.3% from 2013 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for relay and industrial control exports from the United States, accounting for a 54% share of total exports. Moreover, relay and industrial control exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), sevenfold. China (X tons) ranked third in terms of total exports with a 6.7% share.

From 2020 to 2022, the average annual growth rate of volume to Mexico stood at -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-5.5% per year) and China (-2.8% per year).

In value terms, Mexico ($X) remains the key foreign market for relay and industrial control exports from the United States, comprising 46% of total exports. The second position in the ranking was taken by Canada ($X), with a 9.8% share of total exports. It was followed by China, with a 6.2% share.

From 2020 to 2022, the average annual growth rate of value to Mexico stood at +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+11.0% per year) and China (+6.3% per year).

Export Prices by Country

In 2022, the average relay and industrial control export price amounted to $X per ton, rising by 14% against the previous year. Over the period from 2020 to 2022, it increased at an average annual rate of +18.2%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Relay And Industrial Control

Imports into the U.S.

In 2022, relay and industrial control imports into the United States surged to X tons, rising by 22% on the year before. In general, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, relay and industrial control imports soared to $X in 2022. The total import value increased at an average annual rate of +5.5% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Mexico (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of relay and industrial control imports to the United States, with a combined 57% share of total imports. Japan, Germany, Thailand, Vietnam, South Korea, the Philippines, Malaysia, France, India and Indonesia lagged somewhat behind, together accounting for a further 31%.

From 2020 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +60.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), China ($X) and Japan ($X) were the largest relay and industrial control suppliers to the United States, together accounting for 49% of total imports. Germany, Taiwan (Chinese), Malaysia, India, France, Indonesia, Thailand, South Korea, Vietnam and the Philippines lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +42.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average relay and industrial control import price amounted to $X per ton, leveling off at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 2.4%. As a result, import price attained the peak level of $X per ton, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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