Canada: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Canada

The Canadian agricultural appliance market stood at $X in 2021, growing by 6.9% against the previous year. Overall, consumption showed a relatively flat trend pattern. Agricultural appliance consumption peaked in 2021 and is expected to retain growth in the immediate term.

Agricultural Appliance Production in Canada

In value terms, agricultural appliance production shrank rapidly to $X in 2021 estimated in export price. In general, production, however, saw pronounced growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 73% against the previous year. As a result, production attained the peak level of $X, and then fell remarkably in the following year.

Agricultural Appliance Exports

Exports from Canada

In 2021, agricultural appliance exports from Canada soared to X units, picking up by 17% on the year before. Overall, exports, however, recorded a dramatic setback. The most prominent rate of growth was recorded in 2019 with an increase of 35%. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, agricultural appliance exports soared to $X in 2021. Over the period under review, exports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 73%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Japan (X units) and China (X units) were the main destinations of agricultural appliance exports from Canada, with a combined 89% share of total exports. Egypt and Mexico lagged somewhat behind, together accounting for a further 7.4%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +128.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for agricultural appliances exports from Canada, comprising 92% of total exports. The second position in the ranking was held by Japan ($X), with a 1.9% share of total exports. It was followed by China, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+9.8% per year) and China (-2.0% per year).

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, surging by 23% against the previous year. Overall, the export price recorded a significant expansion. The most prominent rate of growth was recorded in 2015 an increase of 80% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+34.1%), while the prices for the other major destinations experienced mixed trend patterns.

Agricultural Appliance Imports

Imports into Canada

In 2021, approx. X units of agricultural appliances were imported into Canada; growing by 46% on the previous year's figure. In general, imports, however, saw a abrupt slump. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, agricultural appliance imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a perceptible downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and Taiwan (Chinese) (X units) were the main suppliers of agricultural appliance imports to Canada, together comprising 72% of total imports. Mexico, Israel, the Netherlands, Germany and Australia lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of agricultural appliances to Canada, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Mexico, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.5% per year) and Mexico (+10.2% per year).

Import Prices by Country

The average agricultural appliance import price stood at $X per unit in 2021, standing approx. at the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, agricultural appliance import price decreased by -11.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 52%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform