Canada: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Canada

In 2021, the Canadian mechanical shovel and excavator 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, saw a mild curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Canada

Mechanical shovel and excavator exports from Canada declined to X units in 2021, dropping by -8.8% against the previous year's figure. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 32% against the previous year. Over the period under review, the exports attained the maximum at X units in 2020, and then contracted in the following year.

In value terms, mechanical shovel and excavator exports declined to $X in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 25%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for mechanical shovel and excavator exports from Canada, with a 66% share of total exports. Moreover, mechanical shovel and excavator exports to the United States exceeded the volume sent to the second major destination, Australia (X units), more than tenfold. The third position in this ranking was taken by Egypt (X units), with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+12.1% per year) and Egypt (+22.0% per year).

In value terms, the United States ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from Canada, comprising 66% of total exports. The second position in the ranking was held by Australia ($X), with a 6.6% share of total exports. It was followed by Egypt, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+5.8% per year) and Egypt (+26.5% per year).

Export Prices by Country

In 2021, the average mechanical shovel and excavator export price amounted to $X per unit, dropping by -2% against the previous year. Over the period under review, the export price showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 5% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per unit), while the average price for exports to Germany ($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 Peru (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Canada

After two years of decline, overseas purchases of mechanical shovels, excavators and shovel loaders increased by 39% to X units in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, mechanical shovel and excavator imports soared to $X in 2021. In general, imports, however, continue to indicate a mild slump. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), Japan (X units) and China (X units) were the main suppliers of mechanical shovel and excavator imports to Canada, with a combined 81% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +17.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and China ($X) were the largest mechanical shovel and excavator suppliers to Canada, with a combined 80% share of total imports.

China, with a CAGR of +10.5%, saw 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 more modest paces of growth.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, surging by 5.9% against the previous year. Overall, the import price, however, saw a mild descent. The growth pace was the most rapid in 2016 an increase of 7.5% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, 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 the UK ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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