U.S. Motor And Generator Imports
In October 2023, the amount of motors and generators imported into the United States rose sharply to 80M units, with an increase of 9.2% on the previous month. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 when imports increased by 12% m-o-m. Imports peaked at 81M units in August 2023; however, from September 2023 to October 2023, imports remained at a lower figure.
In value terms, motor and generator imports expanded markedly to $1.6B (IndexBox estimates) in October 2023. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in March 2023 with an increase of 11% against the previous month. Imports peaked at 1.6B units in May 2023; however, from June 2023 to October 2023, imports failed to regain momentum.
Imports by Country
Mexico (19M units), China (17M units) and Vietnam (8.4M units) were the main suppliers of motor and generator imports to the United States, with a combined 55% share of total imports.
From October 2022 to October 2023, the biggest increases were in Vietnam (with a CAGR of +4.0%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest motor and generator suppliers to the United States were Mexico ($431M), China ($249M) and Japan ($186M), together comprising 55% of total imports.
Among the main suppliers, Japan, with a CAGR of +1.9%, saw the highest rates of growth with regard to 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 October 2023, the motor and generator price amounted to $19.5 per unit (CIF, US), stabilizing at the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 10% month-to-month. Over the period under review, average import prices attained the maximum at $22.4 per unit in June 2023; however, from July 2023 to October 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Denmark ($51.5 per unit), while the price for the Philippines ($7.1 per unit) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Denmark (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.
