Global Steel Spring Market 2024

Steel Spring Market Size

The global steel spring market rose notably to $X in 2023, with an increase of X% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Global consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Steel Spring Production

In value terms, steel spring production amounted to $X in 2023 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, global production reached the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Steel Spring Exports

Exports

In 2023, after two years of growth, there was decline in shipments abroad of steel springs and leaves for springs, when their volume decreased by X% to X tons. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the global exports reached the peak figure at X tons in 2022, and then contracted modestly in the following year.

In value terms, steel spring exports rose slightly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs in 2023 and are expected to retain growth in the near future.

Exports by Country

The biggest shipments were from China (X tons), Mexico (X tons) and Germany (X tons), together recording X% of total export. It was distantly followed by the United States (X tons), constituting a X% share of total exports. Turkey (X tons), Poland (X tons), the Czech Republic (X tons), Spain (X tons), Indonesia (X tons), the Netherlands (X tons), India (X tons), Canada (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key 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, Germany ($X), China ($X) and the United States ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of global exports. Mexico, the Czech Republic, Poland, Italy, Spain, Canada, Turkey, the Netherlands, Indonesia and India lagged somewhat behind, together comprising a further X%.

Poland, 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, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average steel spring export price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2023.

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 Germany ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, 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

In 2023, global imports of steel springs and leaves for springs rose modestly to X tons, picking up by X% on the year before. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons; afterwards, it flattened through to 2023.

In value terms, steel spring imports totaled $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, global imports reached the maximum in 2023 and are expected to retain growth in years to come.

Imports by Country

In 2023, the United States (X tons), distantly followed by Mexico (X tons), Germany (X tons) and Canada (X tons) were the key importers of steel springs and leaves for springs, together achieving X% of total imports. Poland (X tons), the UK (X tons), the Netherlands (X tons), Italy (X tons), France (X tons), Japan (X tons), the Czech Republic (X tons), Thailand (X tons) and Belgium (X tons) took a relatively small share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of steel springs and leaves for springs. At the same time, Poland (X%), the Netherlands (X%), Thailand (X%), Italy (X%) and Germany (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. Japan and the Czech Republic experienced a relatively flat trend pattern. By contrast, the UK (X%), Belgium (X%), Canada (X%), Mexico (X%) and France (X%) illustrated a downward trend over the same period. Poland (X p.p.) significantly strengthened its position in terms of the global imports, while Mexico saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest steel spring importing markets worldwide were the United States ($X), Germany ($X) and Mexico ($X), with a combined X% share of global imports. Poland, Canada, the Czech Republic, the UK, France, Italy, the Netherlands, Thailand, Belgium and Japan lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average steel spring import price stood at $X per ton in 2023, remaining relatively unchanged against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, 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 2023, 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