Global Steel Spring Market 2024

Steel Spring Market Size

The global steel spring market amounted to $X in 2022, stabilizing at the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2022: 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 2022 figures, consumption decreased by X% against 2020 indices. Global consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Steel Spring Production

In value terms, steel spring production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, global production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Steel Spring Exports

Exports

Global steel spring exports dropped modestly to X tons in 2022, shrinking by X% on the previous year's figure. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then fell modestly in the following year.

In value terms, steel spring exports fell slightly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China (X tons), Mexico (X tons) and Germany (X tons) represented roughly X% of total exports in 2022. It was distantly followed by the United States (X tons), constituting a X% share of total exports. Poland (X tons), Turkey (X tons), the Czech Republic (X tons), Indonesia (X tons), Spain (X tons), India (X tons), Canada (X tons), Italy (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest steel spring supplying countries worldwide were Germany ($X), China ($X) and the United States ($X), with a combined X% share of global exports. Mexico, Japan, Poland, the Czech Republic, Italy, Canada, Spain, Turkey, Indonesia and India lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel spring export price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Steel Spring Imports

Imports

Global steel spring imports shrank slightly to X tons in 2022, waning by X% on 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, global imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, steel spring imports declined modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

The United States was the key importing country with an import of about X tons, which finished at X% of total imports. Germany (X tons) ranks second in terms of the total imports with a X% share, followed by Mexico (X%) and Canada (X%). The following importers - Poland (X tons), the UK (X tons), Thailand (X tons), Italy (X tons), Japan (X tons), the Netherlands (X tons), the Czech Republic (X tons), France (X tons) and Belgium (X tons) - together made up X% of total imports.

Imports into the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, Poland (X%), Thailand (X%), the Netherlands (X%), Germany (X%) and Italy (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Japan (X%), Belgium (X%), the Czech Republic (X%), the UK (X%), Canada (X%), France (X%) and Mexico (X%) illustrated a downward trend over the same period. While the share of the United States (X p.p.) and Poland (X p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported steel springs and leaves for springs worldwide, comprising X% of global imports. The second position in the ranking was held by Germany ($X), with an X% share of global imports. It was followed by Mexico, with a X% share.

In the United States, steel spring imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average steel spring import price amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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