Canada: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Canada

In 2022, the Canadian market for diesel engines (other than for motor vehicles and aircraft) increased by 25% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, continues to indicate a mild descent. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Canada

In value terms, production of diesel engines (other than for motor vehicles and aircraft) declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a sharp slump. The growth pace was the most rapid in 2021 when the production volume increased by 12%. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Canada

In 2022, approx. X units of diesel engines (other than for motor vehicles and aircraft) were exported from Canada; increasing by 56% on 2021 figures. In general, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 +73.8% against 2020 indices. Over the period under review, the exports of hit record highs at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +94.7% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 45% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Canada, with a 73% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, Hungary (X units), more than tenfold. Italy (X units) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+107.8% per year) and Italy (+73.8% per year).

In value terms, the United States ($X) remains the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Canada, comprising 82% of total exports. The second position in the ranking was taken by Italy ($X), with a 3.1% share of total exports. It was followed by Hungary, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+69.3% per year) and Hungary (+73.3% per year).

Export Prices by Country

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, with a decrease of -7.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2020 when the average export price increased by 31%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Senegal ($X per unit) was 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 (+1.9%), while the prices for the other major destinations experienced a decline.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Canada

In 2022, overseas purchases of diesel engines (other than for motor vehicles and aircraft) increased by 29% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, saw a pronounced reduction. The growth pace was the most rapid in 2014 when imports increased by 56%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +69.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 33% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the United States (X units) constituted the largest diesel engines (other than for motor vehicles and aircraft) supplier to Canada, accounting for a 58% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from the United States exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by Germany (X units), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.8% per year) and Germany (-0.3% per year).

In value terms, the United States ($X) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Canada, comprising 62% of total imports. The second position in the ranking was held by the UK ($X), with a 9.4% share of total imports. It was followed by Japan, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+0.5% per year) and Japan (+2.5% per year).

Import Prices by Country

The average import price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, remaining constant against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% 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 2013 when the average import price increased by 39% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then fell slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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