Canada: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Canada

The Canadian cranks and crankshafts market rose slightly to $X in 2022, picking up by 3.8% against the previous year. In general, consumption showed a noticeable decrease. Cranks and crankshafts consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Production in Canada

In value terms, cranks and crankshafts production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 54%. Cranks and crankshafts production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Cranks And Crankshafts Exports

Exports from Canada

In 2022, shipments abroad of cranks and crankshafts increased by 44% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, cranks and crankshafts exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for cranks and crankshafts exports from Canada, with a 82% share of total exports. Moreover, cranks and crankshafts exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. Germany (X tons) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+27.0% per year) and Germany (+24.7% per year).

In value terms, the United States ($X) remains the key foreign market for cranks and crankshafts exports from Canada, comprising 82% of total exports. The second position in the ranking was held by Mexico ($X), with a 5.7% share of total exports. It was followed by Germany, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+26.4% per year) and Germany (+24.2% per year).

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, dropping by -10.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 17%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then shrank in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per ton) and the United States ($X per ton), while the average price for exports to Singapore ($X per ton) and Germany ($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 the United States (-0.4%), while the prices for the other major destinations experienced a decline.

Cranks And Crankshafts Imports

Imports into Canada

In 2022, after three years of decline, there was significant growth in supplies from abroad of cranks and crankshafts, when their volume increased by 6.9% to X tons. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.8% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 25% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, cranks and crankshafts imports rose markedly to $X in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 20%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest cranks and crankshafts supplier to Canada, with a 52% share of total imports. Moreover, cranks and crankshafts imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.6% per year) and Mexico (+15.1% per year).

In value terms, the United States ($X) constituted the largest supplier of cranks and crankshafts to Canada, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by Mexico, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.9% per year) and Mexico (+14.4% per year).

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, with an increase of 5.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 9.4% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton 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 countries with the highest prices were Mexico ($X per ton) and the United States ($X per ton), while the price for the UK ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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