Canada: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Canada

The Canadian hydraulic cylinder and system market surged to $X in 2022, growing by 30% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Hydraulic cylinder and system consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Hydraulic Cylinders And Systems in Canada

In value terms, hydraulic cylinder and system production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2020 with an increase of 86% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Canada

Hydraulic cylinder and system exports from Canada soared to X units in 2022, jumping by 29% on 2021. The total export volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydraulic cylinder and system exports surged to $X in 2022. Over the period under review, total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +56.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 29%. Over the period under review, the exports reached the maximum 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 hydraulic cylinder and system exports from Canada, with a 80% share of total exports. Moreover, hydraulic cylinder and system exports to the United States exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was held by Norway (X units), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+17.2% per year) and Norway (+41.2% per year).

In value terms, the United States ($X) remains the key foreign market for hydraulic cylinders and systems exports from Canada, comprising 80% of total exports. The second position in the ranking was held by Germany ($X), with a 3.3% share of total exports. It was followed by Norway, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+17.2% per year) and Norway (+41.3% per year).

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per unit in 2022, dropping by -6.1% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 8.2%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then contracted 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 Norway ($X per unit) and the United States ($X per unit), while the average price for exports to the UK ($X per unit) and Germany ($X per unit) 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 (+0.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Canada

Hydraulic cylinder and system imports into Canada surged to X units in 2022, picking up by 47% on the year before. In general, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hydraulic cylinder and system imports soared to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +48.4% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of hydraulic cylinder and system to Canada, with a 44% share of total imports. Moreover, hydraulic cylinder and system imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), twofold. South Korea (X units) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.0% per year) and South Korea (+47.7% per year).

In value terms, the United States ($X) constituted the largest supplier of hydraulic cylinders and systems to Canada, comprising 44% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by South Korea, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.9% per year) and South Korea (+39.2% per year).

Import Prices by Country

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, with a decrease of -12% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 an increase of less than 0.1%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and the United States ($X per unit), while the price for France ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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