Canada - Thermostats - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingThermostat Costs Surge to $21.5 per unit in Canada
Canada Thermostat Import Price in February 2023
In February 2023, the thermostat price amounted to $21.5 per unit (CIF, Canada), surging by 21% against the previous month. Overall, import price indicated mild growth from February 2022 to February 2023: its price increased at an average monthly rate of +1.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, thermostat import price decreased by -20.1% against December 2022 indices. The pace of growth appeared the most rapid in December 2022 an increase of 39% against the previous month. As a result, import price reached the peak level of $26,958 per thousand units. From January 2023 to February 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was Vietnam ($113 per unit), while the price for Hungary ($5.3 per unit) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by the United States (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.
| COUNTRY | Import Price of Thermostat in Canada (USD per unit) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | |
| Vietnam | 41.4 | 23.2 | 21.7 | 40.5 | 29.8 | 17.7 | 22.0 | 142 | 84.3 | 70.9 | 135 | 249 | 113 |
| Malaysia | 68.3 | 68.0 | 74.5 | 79.0 | 76.9 | 76.7 | 59.4 | 83.9 | 81.5 | 62.7 | 80.7 | 46.0 | 76.4 |
| United States | 9.0 | 10.6 | 8.7 | 9.2 | 8.9 | 12.2 | 9.3 | 11.3 | 17.8 | 12.2 | 11.4 | 10.5 | 31.4 |
| Mexico | 26.7 | 21.7 | 29.4 | 22.9 | 19.1 | 18.8 | 23.5 | 21.8 | 25.5 | 24.0 | 28.4 | 18.3 | 26.1 |
| China | 15.7 | 16.3 | 14.7 | 15.1 | 14.1 | 12.1 | 10.5 | 15.4 | 13.9 | 18.4 | 16.7 | 15.1 | 11.2 |
| Israel | 8.0 | 7.6 | 7.3 | 6.7 | 6.6 | 7.9 | 10.0 | 8.6 | 8.9 | 10.3 | 10.4 | 11.0 | 10.4 |
| Japan | 4.5 | 4.7 | 4.3 | 4.3 | 5.0 | 5.3 | 4.8 | 2.2 | 4.5 | 5.3 | 7.8 | 9.5 | 6.6 |
| Hungary | 4.9 | 66.2 | 138 | 236 | 5.5 | 22.5 | 5.4 | 5.0 | 5.8 | 5.3 | 5.4 | 22.2 | 5.3 |
| Average | 17.6 | 17.0 | 17.9 | 17.7 | 14.5 | 16.2 | 13.5 | 17.2 | 18.8 | 19.4 | 27.0 | 17.7 | 21.5 |
Canada Thermostat Imports
For the third month in a row, Canada recorded decline in purchases abroad of thermostats, which decreased by -13.4% to 518K units in February 2023. In general, imports continue to indicate a mild setback. The growth pace was the most rapid in August 2022 when imports increased by 42% against the previous month. As a result, imports attained the peak of 959K units. From September 2022 to February 2023, the growth of imports remained at a lower figure.
In value terms, thermostat imports rose notably to $11M (IndexBox estimates) in February 2023. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 with an increase of 19% m-o-m. Over the period under review, imports hit record highs at 16M units in December 2022; however, from January 2023 to February 2023, imports remained at a lower figure.
Canada Thermostat Imports by Country
China (205K units), Mexico (126K units) and the United States (43K units) were the main suppliers of thermostat imports to Canada, with a combined 72% share of total imports. These countries were followed by Japan, Hungary, Israel, Vietnam and Malaysia, which together accounted for a further 22%.
From February 2022 to February 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +2.0%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Mexico ($3.3M), China ($2.3M) and Vietnam ($1.6M) constituted the largest thermostat suppliers to Canada, with a combined 64% share of total imports.
Vietnam, with a CAGR of +9.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the thermostat market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26517015 - Electronic thermostats
- Prodcom 26517019 - Non-electronic thermostats
Country coverage:
- Canada
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Canada
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
