Canada: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Canada

In 2021, the Canadian lathe for removing metal market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Exports of Lathes For Removing Metal

Exports from Canada

In 2021, shipments abroad of lathes for removing metal increased by 275% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports posted a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lathe for removing metal exports soared to $X in 2021. In general, exports showed a noticeable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for lathe for removing metal exports from Canada, with a 92% share of total exports. It was followed by Australia (X units), with a 2.1% share of total exports. The third position in this ranking was held by the Philippines (X units), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+3.9% per year) and the Philippines (+115.4% per year).

In value terms, the United States ($X) remains the key foreign market for lathes for removing metal exports from Canada, comprising 90% of total exports. The second position in the ranking was taken by India ($X), with a 2.4% share of total exports. It was followed by Australia, with a 1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-6.6% per year) and Australia (-1.5% per year).

Export Prices by Country

In 2021, the average lathe for removing metal export price amounted to $X per unit, reducing by -35.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 59%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to the Philippines ($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 India (-2.2%), while the prices for the other major destinations experienced a decline.

Imports of Lathes For Removing Metal

Imports into Canada

In 2021, purchases abroad of lathes for removing metal was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, imports showed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lathe for removing metal imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2018 with an increase of 69% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest lathe for removing metal supplier to Canada, accounting for a 75% share of total imports. Moreover, lathe for removing metal imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), eightfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.1% per year) and Taiwan (Chinese) (-0.1% per year).

In value terms, the largest lathe for removing metal suppliers to Canada were Japan ($X), the United States ($X) and South Korea ($X), together accounting for 75% of total imports.

South Korea, with a CAGR of +0.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average lathe for removing metal import price amounted to $X per unit, with a decrease of -35.9% against the previous year. In general, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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