Canada: Shaft Coupling Market 2024

Shaft Coupling Market Size in Canada

The Canadian shaft coupling market was estimated at $X in 2022, picking up by 6.2% against the previous year. Overall, consumption, however, saw a noticeable curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Shaft Coupling Production in Canada

In value terms, shaft coupling production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2013 when the production volume increased by 30%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Shaft Coupling Exports

Exports from Canada

After four years of decline, overseas shipments of clutches and shaft couplings increased by 13% to X tons in 2022. Over the period under review, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 29%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, shaft coupling exports rose rapidly to $X in 2022. In general, total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +14.8% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 33%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for shaft coupling exports from Canada, accounting for a 73% share of total exports. Moreover, shaft coupling exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), sevenfold. The UK (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+40.5% per year) and the UK (+10.7% per year).

In value terms, the United States ($X) remains the key foreign market for clutches and shaft couplings exports from Canada, comprising 72% of total exports. The second position in the ranking was held by Mexico ($X), with an 11% share of total exports. It was followed by the UK, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+39.0% per year) and the UK (+9.4% per year).

Export Prices by Country

In 2022, the average shaft coupling export price amounted to $X per ton, which is down by -2% against the previous year. Over the period under review, the export price recorded a slight curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 6.3% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and Mexico ($X per ton), while the average price for exports to the UK ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (-1.1%), while the prices for the other major destinations experienced a decline.

Shaft Coupling Imports

Imports into Canada

In 2022, supplies from abroad of clutches and shaft couplings increased by 24% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, shaft coupling imports skyrocketed to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of shaft coupling to Canada, accounting for a 59% share of total imports. Moreover, shaft coupling imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. China (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and China (+8.0% per year).

In value terms, the United States ($X) constituted the largest supplier of clutches and shaft couplings to Canada, comprising 59% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports. It was followed by China, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.7% per year) and China (+7.1% per year).

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, waning by -4.8% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 6.4%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for Japan ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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