Canada: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Canada

For the third consecutive year, the Canadian hydraulic jack market recorded growth in sales value, which increased by 8.6% to $X in 2022. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.9% against 2016 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Hydraulic Jack Production in Canada

In value terms, hydraulic jack production fell dramatically to $X in 2022 estimated in export price. In general, production saw a abrupt descent. The growth pace was the most rapid in 2016 with an increase of 238% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Hydraulic Jack Exports

Exports from Canada

In 2022, overseas shipments of hydraulic jacks and hoists for raising vehicles were finally on the rise to reach X units after three years of decline. In general, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2018 when exports increased by 195% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydraulic jack exports surged to $X in 2022. Overall, exports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 60%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for hydraulic jack exports from Canada, accounting for a 96% share of total exports. It was followed by Romania (X units), with a 1.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -8.3%.

In value terms, the United States ($X) remains the key foreign market for hydraulic jacks and hoists for raising vehicles exports from Canada, comprising 81% of total exports. The second position in the ranking was held by Romania ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

The average hydraulic jack export price stood at $X per unit in 2022, declining by -45.5% against the previous year. Over the period under review, the export price, however, saw a resilient increase. The pace of growth was the most pronounced in 2014 an increase of 72%. The export price peaked at $X per unit in 2021, and then dropped notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Romania amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+8.3%).

Hydraulic Jack Imports

Imports into Canada

Hydraulic jack imports into Canada rose significantly to X units in 2022, surging by 9.5% on 2021. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, hydraulic jack imports expanded significantly to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +29.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic jack to Canada, with a 88% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.6%.

In value terms, the largest hydraulic jack suppliers to Canada were China ($X) and the United States ($X).

China, with a CAGR of +6.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

The average hydraulic jack import price stood at $X per unit in 2022, increasing by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2021 an increase of 29%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.3%).

Source: IndexBox Platform

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