Canada: Direction Finding Compass Market 2025

Direction Finding Compass Market Size in Canada

The Canadian direction finding compass market contracted to $X in 2021, which is down by -13.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a significant decrease. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Direction Finding Compass Exports

Exports from Canada

For the third year in a row, Canada recorded growth in overseas shipments of direction finding compasses, which increased by 56% to X units in 2021. Overall, exports showed a strong expansion. The growth pace was the most rapid in 2019 when exports increased by 110%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, direction finding compass exports surged to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 111% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for direction finding compass exports from Canada, accounting for a 39% share of total exports. Moreover, direction finding compass exports to the United States exceeded the volume sent to the second major destination, the UK (X units), twofold. The third position in this ranking was held by Germany (X units), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+23.4% per year) and Germany (+70.5% per year).

In value terms, the United States ($X) remains the key foreign market for direction finding compasses exports from Canada, comprising 39% of total exports. The second position in the ranking was held by the UK ($X), with an 18% share of total exports. It was followed by Germany, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+32.5% per year) and Germany (+83.5% per year).

Export Prices by Country

The average direction finding compass export price stood at $X per unit in 2021, surging by 4.9% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, direction finding compass export price increased by +15.9% against 2017 indices. The pace of growth appeared the most rapid in 2014 an increase of 23%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Austria ($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 Japan (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Direction Finding Compass Imports

Imports into Canada

In 2021, purchases abroad of direction finding compasses increased by 1.8% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a significant curtailment. The growth pace was the most rapid in 2015 with an increase of 53% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, direction finding compass imports reduced to $X in 2021. Overall, imports, however, continue to indicate a precipitous decrease. The growth pace was the most rapid in 2015 with an increase of 43%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United States (X units), Norway (X units) and China (X units) were the main suppliers of direction finding compass imports to Canada, with a combined 53% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of +62.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest direction finding compass suppliers to Canada were the United States ($X), Norway ($X) and China ($X), together accounting for 53% of total imports.

In terms of the main suppliers, Norway, with a CAGR of +63.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average direction finding compass import price stood at $X per unit in 2021, reducing by -3.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 26% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and Norway ($X per unit), while the price for Mexico ($X per unit) and Finland ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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