Canada: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Canada

In 2021, the Canadian gear cutting machine market decreased by -3.9% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption recorded a noticeable expansion. Gear cutting machine consumption peaked at $X in 2020, and then shrank modestly in the following year.

Gear Cutting Machine Production in Canada

In value terms, gear cutting machine production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded modest growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 4.1% against the previous year. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Gear Cutting Machine Exports

Exports from Canada

In 2021, gear cutting machine exports from Canada soared to X units, rising by 33% on the previous year's figure. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2015 with an increase of 900%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, gear cutting machine exports contracted notably to $X in 2021. In general, exports saw a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 642% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Germany (X units) and the Czech Republic (X units) were the main destinations of gear cutting machine exports from Canada, together accounting for 90% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +38.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Canada, comprising 67% of total exports. The second position in the ranking was held by India ($X), with an 11% share of total exports. It was followed by Germany, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +35.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+14.9% per year) and Germany (+31.0% per year).

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, dropping by -41% against the previous year. Overall, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 295% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Israel ($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 Czech Republic (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Canada

For the sixth consecutive year, Canada recorded growth in purchases abroad of gear cutting, gear grinding or gear finishing machines, which increased by 8.2% to X units in 2021. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 388%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, gear cutting machine imports declined dramatically to $X in 2021. Overall, imports, however, continue to indicate a perceptible descent. The growth pace was the most rapid in 2014 with an increase of 206%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Cambodia (X units), Switzerland (X units) and Germany (X units) were the main suppliers of gear cutting machine imports to Canada, with a combined 75% share of total imports. The United States, South Korea and Finland lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +175.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Canada, comprising 47% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 16% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+44.9% per year) and South Korea (+26.5% per year).

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, falling by -49.2% against the previous year. Overall, the import price faced a significant decrease. The growth pace was the most rapid in 2017 when the average import price increased by 34%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 South Korea ($X per unit), while the price for Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-10.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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