Canada: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in Canada

The Canadian self-propelled excavating machinery market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, recorded a abrupt curtailment. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Self-Propelled Excavating Machinery Exports

Exports from Canada

In 2021, approx. X units of self-propelled earth moving, excavating machinery were exported from Canada; picking up by 73% against the previous year's figure. In general, exports, however, saw a noticeable decline. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, self-propelled excavating machinery exports surged to $X in 2021. Over the period under review, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for self-propelled excavating machinery exports from Canada, with a 69% share of total exports. Moreover, self-propelled excavating machinery exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), sixfold. Ireland (X units) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+16.2% per year) and Ireland (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for self-propelled earth moving, excavating machinery exports from Canada, comprising 82% of total exports. The second position in the ranking was held by Chile ($X), with a 2.8% share of total exports. It was followed by Mexico, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-8.5% per year) and Mexico (+8.6% per year).

Export Prices by Country

The average self-propelled excavating machinery export price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Overall, the export price, however, saw buoyant growth. The growth pace was the most rapid in 2018 when the average export price increased by 44% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then dropped modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Ireland ($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 Ireland (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Excavating Machinery Imports

Imports into Canada

In 2021, overseas purchases of self-propelled earth moving, excavating machinery were finally on the rise to reach X units after two years of decline. Overall, imports, however, showed a abrupt shrinkage. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, self-propelled excavating machinery imports soared to $X in 2021. Over the period under review, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 60%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), the United States (X units) and Germany (X units) were the main suppliers of self-propelled excavating machinery imports to Canada, with a combined 82% share of total imports. These countries were followed by Hong Kong SAR, the UK, China, Sweden and Italy, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +420.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Japan ($X) appeared to be the largest self-propelled excavating machinery suppliers to Canada, together comprising 79% of total imports. These countries were followed by Sweden, the UK, China, Italy and Hong Kong SAR, which together accounted for a further 13%.

Among the main suppliers, Sweden, with a CAGR of +24.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average self-propelled excavating machinery import price stood at $X per unit in 2021, waning by -35.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 95% against the previous year. The import price peaked at $X per unit in 2020, and then contracted dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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