Updated Nov 24, 2022 21:37

Steel Railway Material Market in Northern America

Market Overview
The North American steel railway material market dropped modestly to $ in , approximately equating 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 a slight curtailment. As a result, consumption attained the peak level of $. From 2009 to , the growth of the market remained at a somewhat lower figure.

In value terms, steel railway material production rose modestly to $ in estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the production volume increased by %. As a result, production attained the peak level of $. From 2009 to , production growth failed to regain momentum.

The country with the largest volume of steel railway material production was the United States ( tons), comprising approx. % of total volume.

From 2007 to , the average annual growth rate of volume in the United States was relatively modest.


Consumption
In , approx. tons of railway material of steel were consumed in Northern America; shrinking by -% on figures. In general, consumption showed a perceptible contraction. As a result, consumption reached the peak volume of tons. From 2009 to , the growth of the consumption remained at a lower figure.

The size of the steel railway material market in Northern America fell to $ in , remaining constant 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). Overall, consumption showed a mild shrinkage. As a result, consumption reached the peak level of $. From 2009 to , the growth of the market remained at a lower figure.


Consumption by Country
The United States ( tons) constituted the country with the largest volume of steel railway material consumption, comprising approx. % of total volume. Moreover, steel railway material consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada ( tons), eightfold.

From 2007 to , the average annual growth rate of volume in the United States amounted to -%.

In value terms, the United States ($) led the market, alone. The second position in the ranking was taken by Canada ($).

From 2007 to , the average annual growth rate of value in the United States was relatively modest.

In No countries steel railway material per capita consumption remained relatively stable over the period from 2007-.


Market Forecast
Depressed by shrinking demand for steel railway material in Northern America, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .