Canada: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Canada

In 2021, the Canadian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a mild curtailment. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Canada

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell notably to $X in 2021 estimated in export price. In general, production recorded a precipitous decline. Production of peaked at $X in 2020, and then dropped notably in the following year.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Canada

In 2021, after four years of growth, there was significant decline in overseas shipments of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when their volume decreased by -24.7% to X tons. Over the period under review, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 176%. The exports peaked at X tons in 2020, and then fell remarkably in the following year.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) contracted to $X in 2021. Overall, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 158%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Canada, with a 49% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. Russia (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+40.8% per year) and Russia (+50.1% per year).

In value terms, the United States ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Canada, comprising 52% of total exports. The second position in the ranking was taken by China ($X), with a 17% share of total exports. It was followed by Russia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+38.5% per year) and Russia (+47.3% per year).

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, rising by 20% against the previous year. Overall, the export price, however, recorded a mild descent. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and China ($X per ton), while the average price for exports to Malaysia ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Canada

In 2021, supplies from abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 80% against the previous year. Over the period under review, imports of hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. Overall, total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 decreased by -16.1% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 50% against the previous year. Over the period under review, imports of hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Canada, accounting for a 51% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.7% per year) and Thailand (+3.7% per year).

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Canada were the United States ($X), Japan ($X) and China ($X), with a combined 91% share of total imports.

In terms of the main suppliers, China, with a CAGR of +7.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, picking up by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2016 an increase of 24%. The import price peaked in 2021 and is likely to continue growth in the near future.

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 Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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