Canada: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Canada

The Canadian self-propelled boring machinery market soared to $X in 2022, increasing by 23% 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 recorded a mild increase. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Self-Propelled Boring Machinery Exports

Exports from Canada

After two years of growth, shipments abroad of self-propelled boring or sinking machinery decreased by -17.9% to X units in 2022. Over the period under review, exports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 41%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery exports shrank to $X in 2022. Overall, exports showed a perceptible decline. The pace of growth appeared the most rapid in 2021 when exports increased by 32%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for self-propelled boring machinery exports from Canada, with a 72% share of total exports. Moreover, self-propelled boring machinery exports to the United States exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold. Australia (X units) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+15.5% per year) and Australia (+6.2% per year).

In value terms, the United States ($X) remains the key foreign market for self-propelled boring or sinking machinery exports from Canada, comprising 74% of total exports. The second position in the ranking was held by Indonesia ($X), with a 6.3% share of total exports. It was followed by Australia, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+13.0% per year) and Australia (+5.0% per year).

Export Prices by Country

The average self-propelled boring machinery export price stood at $X per unit in 2022, picking up by 6.3% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 20%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per unit) and Japan ($X per unit), while the average price for exports to Chile ($X per unit) and Australia ($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 Brazil (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Canada

In 2022, approx. X units of self-propelled boring or sinking machinery were imported into Canada; surging by 9.7% compared with 2021. In general, imports, however, saw a mild reduction. The pace of growth was the most pronounced in 2021 with an increase of 102% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, self-propelled boring machinery imports expanded remarkably to $X in 2022. Overall, imports saw mild growth. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Germany (X units), the United States (X units) and Finland (X units) were the main suppliers of self-propelled boring machinery imports to Canada, together accounting for 90% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +24.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled boring machinery suppliers to Canada were the United States ($X), Finland ($X) and Germany ($X), together accounting for 71% of total imports.

Finland, with a CAGR of +24.2%, 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 mixed trend patterns.

Import Prices by Country

The average self-propelled boring machinery import price stood at $X per unit in 2022, waning by -3.6% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, self-propelled boring machinery import price increased by +18.3% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 53%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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