Canada: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Canada

The Canadian agricultural forestry machinery market expanded rapidly to $X in 2022, increasing by 9% against the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.9% against 2020 indices. Agricultural forestry machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Agricultural Forestry Machinery Production in Canada

In value terms, agricultural forestry machinery production expanded rapidly to $X in 2022 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 26%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Agricultural Forestry Machinery Exports

Exports from Canada

In 2022, overseas shipments of agricultural forestry machinery (lawn or sportsground rollers) increased by 10% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 57% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, agricultural forestry machinery exports reached $X in 2022. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 59% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units), Lithuania (X units) and Australia (X units) were the main destinations of agricultural forestry machinery exports from Canada, together comprising 97% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +98.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Lithuania ($X) and Australia ($X) were the largest markets for agricultural forestry machinery exported from Canada worldwide, with a combined 97% share of total exports.

Lithuania, with a CAGR of +102.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average agricultural forestry machinery export price amounted to $X per unit, growing by 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2018 an increase of 10%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per unit) and Australia ($X per unit), while the average price for exports to Lithuania ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Canada

In 2022, overseas purchases of agricultural forestry machinery (lawn or sportsground rollers) increased by 20% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +88.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, agricultural forestry machinery imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +103.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 66% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X units) constituted the largest agricultural forestry machinery supplier to Canada, with a 55% share of total imports. Moreover, agricultural forestry machinery imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. Finland (X units) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.0% per year) and Finland (+41.4% per year).

In value terms, the United States ($X) constituted the largest supplier of agricultural forestry machinery (lawn or sportsground rollers) to Canada, comprising 55% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Finland, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.2% per year) and Finland (+41.8% per year).

Import Prices by Country

In 2022, the average agricultural forestry machinery import price amounted to $X per unit, increasing by 1.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 7.1% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and the Netherlands ($X per unit), while the price for China ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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