Canada: Power Tool Market 2024

Power Tool Market Size in Canada

The Canadian power tool market soared to $X in 2021, increasing by 36% against the previous year. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +93.4% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Power Tool Production in Canada

In value terms, power tool production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,010%. Over the period under review, production hit record highs in 2021 and is likely to continue growth in the immediate term.

Power Tool Exports

Exports from Canada

In 2021, overseas shipments of power tools decreased by -17.2% to X units, falling for the third year in a row after two years of growth. In general, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 55%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, power tool exports stood at $X in 2021. Overall, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by 37%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for power tool exports from Canada, accounting for a 53% share of total exports. Moreover, power tool exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), threefold. The third position in this ranking was held by Germany (X units), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+17.8% per year) and Germany (+21.0% per year).

In value terms, the United States ($X) remains the key foreign market for power tools exports from Canada, comprising 69% of total exports. The second position in the ranking was held by the Netherlands ($X), with an 11% share of total exports. It was followed by Australia, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+16.9% per year) and Australia (+16.0% per year).

Export Prices by Country

In 2021, the average power tool export price amounted to $X per unit, surging by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2019 an increase of 41% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Burkina Faso ($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 the United States (+5.9%), while the prices for the other major destinations experienced a decline.

Power Tool Imports

Imports into Canada

In 2021, overseas purchases of power tools increased by 30% to X units, rising for the second consecutive year after two years of decline. In general, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +47.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 57%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, power tool imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +109.3% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of power tool to Canada, with a 69% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), fivefold. Vietnam (X units) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+5.7% per year) and Vietnam (+245.5% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Canada, comprising 58% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total imports. It was followed by Mexico, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+244.6% per year) and Mexico (+5.7% per year).

Import Prices by Country

The average power tool import price stood at $X per unit in 2021, picking up by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 53% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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