Canada: Multimeter Market 2025

Multimeter Market Size in Canada

The Canadian multimeter market fell to $X in 2022, which is down by -8.4% against the previous year. In general, consumption recorded a slight descent. Multimeter consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Multimeter Production in Canada

In value terms, multimeter production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced curtailment. The pace of growth was the most pronounced in 2016 with an increase of 70% against the previous year. Multimeter production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Multimeter Exports

Exports from Canada

In 2022, shipments abroad of multimeters was finally on the rise to reach X units after two years of decline. In general, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 53%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, multimeter exports surged to $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 28%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for multimeter exports from Canada, with a 45% share of total exports. Moreover, multimeter exports to the United States exceeded the volume sent to the second major destination, Cuba (X units), fivefold. The third position in this ranking was taken by Switzerland (X units), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+10.9% per year) and Switzerland (+8.3% per year).

In value terms, the United States ($X) remains the key foreign market for multimeters exports from Canada, comprising 45% of total exports. The second position in the ranking was held by Cuba ($X), with an 8.4% share of total exports. It was followed by Switzerland, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+9.6% per year) and Switzerland (+7.0% per year).

Export Prices by Country

The average multimeter export price stood at $X per unit in 2022, waning by -10.7% against the previous year. Over the period under review, the export price recorded a slight setback. The growth pace was the most rapid in 2021 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Cuba ($X per unit) and Norway ($X per unit), while the average price for exports to Thailand ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-0.8%), while the prices for the other major destinations experienced a decline.

Multimeter Imports

Imports into Canada

After six years of growth, overseas purchases of multimeters decreased by -8% to X units in 2022. Over the period under review, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 68% against the previous year. As a result, imports reached the peak of X units, and then fell in the following year.

In value terms, multimeter imports contracted notably to $X in 2022. Overall, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60%. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

China (X units), the United States (X units) and Malaysia (X units) were the main suppliers of multimeter imports to Canada, with a combined 82% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +29.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Malaysia ($X) constituted the largest multimeter suppliers to Canada, with a combined 82% share of total imports.

Among the main suppliers, Malaysia, with a CAGR of +24.5%, saw the highest rates of growth with regard to 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

In 2022, the average multimeter import price amounted to $X per unit, shrinking by -8.9% against the previous year. In general, the import price recorded a pronounced curtailment. The growth pace was the most rapid in 2014 when the average import price increased by 6.5%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for the UK ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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