Canada: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Canada

The Canadian oil dispensing pump market soared to $X in 2021, jumping by 25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a slight setback. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Oil Dispensing Pump Exports

Exports from Canada

In 2021, after five years of growth, there was significant decline in shipments abroad of petrol and oil dispensing pumps, when their volume decreased by -73.4% to X units. In general, exports saw a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by 108%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, oil dispensing pump exports declined significantly to $X in 2021. Overall, exports saw a perceptible setback. The pace of growth appeared the most rapid in 2019 when exports increased by 142%. Over the period under review, the exports reached the maximum at $X in 2020, and then contracted notably in the following year.

Exports by Country

The United States (X units) was the main destination for oil dispensing pump exports from Canada, accounting for a 75% share of total exports. Moreover, oil dispensing pump exports to the United States exceeded the volume sent to the second major destination, Egypt (X units), sevenfold. The third position in this ranking was held by Bahrain (X units), with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+51.9% per year) and Bahrain (+98.8% per year).

In value terms, the largest markets for oil dispensing pump exported from Canada were the United States ($X), Egypt ($X) and Bahrain ($X), with a combined 87% share of total exports.

Bahrain, with a CAGR of +175.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average oil dispensing pump export price amounted to $X per unit, rising by 58% against the previous year. Overall, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 194%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mongolia ($X per unit), while the average price for exports to Cuba ($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 Mongolia (+46.9%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Dispensing Pump Imports

Imports into Canada

For the fifth year in a row, Canada recorded growth in purchases abroad of petrol and oil dispensing pumps, which increased by 10% to X units in 2021. In general, imports posted a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by 85%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, oil dispensing pump imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a abrupt decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of oil dispensing pump to Canada, accounting for a 84% share of total imports. Moreover, oil dispensing pump imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.4% per year) and India (+19.7% per year).

In value terms, the United States ($X) constituted the largest supplier of petrol and oil dispensing pumps to Canada, comprising 89% of total imports. The second position in the ranking was taken by China ($X), with a 3.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.2% per year) and India (+11.6% per year).

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, picking up by 12% against the previous year. Over the period under review, the import price, however, showed a sharp contraction. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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