Canada: Measuring Instrument Market 2022

Measuring Instrument Market Size in Canada

In 2021, the Canadian measuring instrument market decreased by -14.6% to $X, falling for the second consecutive year after two years of growth. In general, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -25.1% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Measuring Instrument Production in Canada

In value terms, measuring instrument production reached $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 485%. Measuring instrument production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Measuring Instrument Exports

Exports from Canada

Measuring instrument exports from Canada skyrocketed to X units in 2021, with an increase of 23% compared with 2020. Overall, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 34%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, measuring instrument exports totaled $X in 2021. Over the period under review, exports, however, continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2018 with an increase of 25%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for measuring instrument exports from Canada, with a 95% share of total exports. It was followed by the United Arab Emirates (X units), with a 2.3% share of total exports. The third position in this ranking was taken by Germany (X units), with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+19.5% per year) and Germany (-14.2% per year).

In value terms, the United States ($X) remains the key foreign market for measuring instrument exports from Canada, comprising 71% of total exports. The second position in the ranking was taken by China ($X), with a 3.1% share of total exports. It was followed by Germany, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.5% per year) and Germany (-5.4% per year).

Export Prices by Country

In 2021, the average measuring instrument export price amounted to $X per unit, dropping by -11.2% against the previous year. Overall, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by less than 0.1%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to the United Arab Emirates ($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 China (+24.4%), while the prices for the other major destinations experienced mixed trend patterns.

Measuring Instrument Imports

Imports into Canada

Measuring instrument imports into Canada expanded markedly to X units in 2021, growing by 11% against the year before. Overall, imports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 31% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, measuring instrument imports totaled $X in 2021. Over the period under review, imports, however, saw a perceptible curtailment. The growth pace was the most rapid in 2017 with an increase of 12% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of measuring instrument to Canada, with a 63% share of total imports. Moreover, measuring instrument imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The third position in this ranking was held by Mexico (X units), with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.9% per year) and Mexico (-9.5% per year).

In value terms, the United States ($X) constituted the largest supplier of measuring instrument to Canada, comprising 67% of total imports. The second position in the ranking was held by Germany ($X), with a 6.7% share of total imports. It was followed by Mexico, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.0% per year) and Mexico (-7.1% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, approximately mirroring the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, measuring instrument import price increased by +35.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 37% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank in the following year.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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