Canada: Vehicle Seat Market 2024

Vehicle Seat Market Size in Canada

The Canadian vehicle seat market amounted to $X in 2022, approximately mirroring the previous year. Overall, consumption saw a prominent expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Vehicle Seat Production in Canada

In value terms, vehicle seat production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 69% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Vehicle Seat Exports

Exports from Canada

In 2022, the amount of seats for motor vehicles exported from Canada expanded remarkably to X units, with an increase of 15% compared with the previous year. Overall, exports, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2020 with an increase of 37% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, vehicle seat exports expanded significantly to $X in 2022. Over the period under review, exports showed strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 50% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for vehicle seat exports from Canada, accounting for a 82% share of total exports. Moreover, vehicle seat exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. The third position in this ranking was taken by Finland (X units), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+25.2% per year) and Finland (-5.7% per year).

In value terms, the United States ($X) remains the key foreign market for seats for motor vehicles exports from Canada, comprising 82% of total exports. The second position in the ranking was taken by Mexico ($X), with a 5% share of total exports. It was followed by Finland, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+40.3% per year) and Finland (+5.6% per year).

Export Prices by Country

The average vehicle seat export price stood at $X per unit in 2022, approximately equating the previous year. Over the period under review, the export price, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 an increase of 60%. The export price peaked at $X per unit in 2021, and then declined modestly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Finland ($X per unit) and the United States ($X per unit), while the average price for exports to Mexico ($X per unit) and Switzerland ($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 Switzerland (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Seat Imports

Imports into Canada

In 2022, overseas purchases of seats for motor vehicles increased by 15% to X units, rising for the second year in a row after two years of decline. In general, imports, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2013 when imports increased by 19% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vehicle seat imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 25% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest vehicle seat supplier to Canada, accounting for a 70% share of total imports. Moreover, vehicle seat imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X units), sixfold. The third position in this ranking was taken by China (X units), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-7.8% per year) and China (-0.6% per year).

In value terms, the United States ($X) constituted the largest supplier of seats for motor vehicles to Canada, comprising 70% of total imports. The second position in the ranking was held by Mexico ($X), with a 12% share of total imports. It was followed by China, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-2.5% per year) and China (+5.2% per year).

Import Prices by Country

The average vehicle seat import price stood at $X per unit in 2022, with an increase of 5.3% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vehicle seat import price increased by +75.5% against 2012 indices. The most prominent rate of growth was recorded in 2014 an increase of 10% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per unit) and Italy ($X per unit), while the price for Turkey ($X per unit) and Mexico ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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