Canada: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Canada

After two years of decline, the Canadian machine-tool for working metal market increased by 35% to $X in 2021. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Exports of Machine Tools For Working Metal

Exports from Canada

In 2021, the amount of machine tools for working metal exported from Canada contracted significantly to X units, which is down by -20.5% on the previous year's figure. Overall, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 72% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working metal exports expanded significantly to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for machine-tool for working metal exports from Canada, with a 84% share of total exports. It was followed by Malaysia (X units), with a 2.1% share of total exports. The third position in this ranking was held by Norway (X units), with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+64.7% per year) and Norway (+67.5% per year).

In value terms, the United States ($X) remains the key foreign market for machine tools for working metal exports from Canada, comprising 85% of total exports. The second position in the ranking was held by Malaysia ($X), with a 1.8% share of total exports. It was followed by Russia, with a 1.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+77.9% per year) and Russia (+27.4% per year).

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, growing by 44% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +10.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Russia ($X per unit), while the average price for exports to Norway ($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 the United States (+12.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machine Tools For Working Metal

Imports into Canada

Machine-tool for working metal imports into Canada surged to X units in 2021, rising by 46% on 2020 figures. In general, imports saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 61%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. Overall, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 increased by +6.5% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 39% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

The United States (X units), China (X units) and Italy (X units) were the main suppliers of machine-tool for working metal imports to Canada, with a combined 87% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +27.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of machine tools for working metal to Canada, comprising 28% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.6% per year) and Japan (+5.6% per year).

Import Prices by Country

In 2021, the average machine-tool for working metal import price amounted to $X per unit, declining by -15.1% against the previous year. Overall, the import price continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2020 when the average import price increased by 63% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: 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 Japan (+9.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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