Canada: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Canada

The Canadian balancing mechanical parts machine market surged to $X in 2021, rising by 19% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Balancing mechanical parts machine consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in Canada

In value terms, balancing mechanical parts machine production fell notably to $X in 2021 estimated in export price. In general, production showed a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of 289% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Canada

In 2021, shipments abroad of machines for balancing mechanical parts decreased by -11.5% to X units, falling for the third year in a row after three years of growth. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 448%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports expanded notably to $X in 2021. Over the period under review, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 305% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for balancing mechanical parts machine exports from Canada, with a 77% share of total exports. Moreover, balancing mechanical parts machine exports to the United States exceeded the volume sent to the second major destination, Germany (X units), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+13.3% per year) and China (-58.0% per year).

In value terms, the United States ($X) remains the key foreign market for machines for balancing mechanical parts exports from Canada, comprising 81% of total exports. The second position in the ranking was taken by Germany ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+16.5% per year) and China (-51.4% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, rising by 24% against the previous year. Over the period under review, the export price recorded a strong increase. The pace of growth was the most pronounced in 2015 an increase of 101%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to Germany ($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 (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Canada

In 2021, supplies from abroad of machines for balancing mechanical parts was finally on the rise to reach X units after two years of decline. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -34.6% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 42%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. In general, total imports indicated a tangible increase 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. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of balancing mechanical parts machine to Canada, accounting for a 67% share of total imports. Moreover, balancing mechanical parts machine imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X units), sevenfold. The third position in this ranking was taken by China (X units), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.6% per year) and China (+4.4% per year).

In value terms, the United States ($X) constituted the largest supplier of machines for balancing mechanical parts to Canada, comprising 61% of total imports. The second position in the ranking was taken by Italy ($X), with a 12% share of total imports. It was followed by China, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.6% per year) and China (+8.7% per year).

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, increasing by 4.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 7.7%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for the UK ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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