Canada: Transmission Shaft Market 2024

Transmission Shaft Market Size in Canada

The Canadian transmission shaft market skyrocketed to $X in 2022, rising by 21% against the previous year. Overall, consumption, however, continues to indicate a perceptible contraction. Transmission shaft consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Transmission Shaft Production in Canada

In value terms, transmission shaft production surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep contraction. Transmission shaft production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Canada

In 2022, after four years of decline, there was significant growth in shipments abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, when their volume increased by 24% to X tons. Over the period under review, exports showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, transmission shaft exports rose remarkably to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for transmission shaft exports from Canada, with a 69% share of total exports. Moreover, transmission shaft exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. The third position in this ranking was taken by Germany (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+14.7% per year) and Germany (-0.3% per year).

In value terms, the United States ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Canada, comprising 71% of total exports. The second position in the ranking was held by Mexico ($X), with a 5% share of total exports. It was followed by Germany, with a 2.7% 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: Mexico (+14.3% per year) and Germany (-4.3% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, falling by -8.5% against the previous year. In general, the export price continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 9.7% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+0.1%), while the prices for the other major destinations experienced a decline.

Transmission Shaft Imports

Imports into Canada

In 2022, purchases abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 18% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.6% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 93% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, transmission shaft imports surged to $X in 2022. Overall, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 107% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest transmission shaft supplier to Canada, with a 46% share of total imports. Moreover, transmission shaft imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Japan (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.4% per year) and Japan (+11.7% per year).

In value terms, the United States ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Canada, comprising 50% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+12.5% per year) and China (+6.8% per year).

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, approximately equating the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 7.1% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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