Canada: Timer Market 2024

Timer Market Size in Canada

The Canadian timer market dropped to $X in 2022, which is down by -4% against the previous year. In general, consumption, however, faced a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Timer Production in Canada

In value terms, timer production declined remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a sharp reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 176%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Timer Exports

Exports from Canada

Timer exports from Canada fell remarkably to X units in 2022, with a decrease of -66.2% compared with the previous year. Overall, exports showed a noticeable downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 151% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, timer exports shrank remarkably to $X in 2022. Over the period under review, exports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 299%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units) was the main destination for timer exports from Canada, accounting for a 47% share of total exports. Moreover, timer exports to France exceeded the volume sent to the second major destination, Italy (X units), threefold. Germany (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+27.4% per year) and Germany (+32.3% per year).

In value terms, the largest markets for timer exported from Canada were Argentina ($X), the United States ($X) and Italy ($X), together accounting for 76% of total exports. France, Germany, the Czech Republic and India lagged somewhat behind, together accounting for a further 19%.

Germany, with a CAGR of +29.8%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2022, the average timer export price amounted to $X per unit, reducing by -9.7% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, timer export price increased by +9.5% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 59%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Timer Imports

Imports into Canada

In 2022, the amount of timers imported into Canada rose rapidly to X units, growing by 12% against the previous year's figure. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by 37%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, timer imports contracted sharply to $X in 2022. In general, imports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2016 when imports increased by 15%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest timer supplier to Canada, accounting for a 88% share of total imports. Moreover, timer imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.4% per year) and Taiwan (Chinese) (-12.7% per year).

In value terms, the United States ($X), China ($X) and Taiwan (Chinese) ($X) were the largest timer suppliers to Canada, together accounting for 79% of total imports.

China, with a CAGR of +0.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average timer import price amounted to $X per unit, declining by -26.2% against the previous year. In general, the import price faced a abrupt shrinkage. The growth pace was the most rapid in 2014 an increase of 18% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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