Northern America: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Northern America

In 2022, the North American market for industrial, laboratory or bakery ovens increased by 0.5% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Industrial, Laboratory or Bakery Ovens in Northern America

In value terms, industrial, laboratory or bakery oven production shrank to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 8.6% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in Northern America

In 2022, overseas shipments of industrial, laboratory or bakery ovens were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 40%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial, laboratory or bakery oven exports expanded rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a slight decrease. The pace of growth appeared the most rapid in 2015 with an increase of 38%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United States was the main exporting country with an export of about X units, which amounted to 88% of total exports. It was distantly followed by Canada (X units), committing a 12% share of total exports.

The United States was also the fastest-growing in terms of the industrial, laboratory or bakery ovens exports, with a CAGR of -4.2% from 2012 to 2022. Canada (-9.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +6.9 percentage points.

In value terms, the United States ($X) remains the largest industrial, laboratory or bakery oven supplier in Northern America, comprising 91% of total exports. The second position in the ranking was held by Canada ($X), with a 9.2% share of total exports.

In the United States, industrial, laboratory or bakery oven exports shrank by an average annual rate of -1.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per unit, picking up by 1.5% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial, laboratory or bakery oven export price decreased by -6.4% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.2%).

Imports of Industrial, Laboratory or Bakery Ovens

Imports in Northern America

For the fourth year in a row, Northern America recorded growth in purchases abroad of industrial, laboratory or bakery ovens, which increased by 26% to X units in 2022. Over the period under review, imports saw buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 28%. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, industrial, laboratory or bakery oven imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 39% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Canada was the largest importer of industrial, laboratory or bakery ovens in Northern America, with the volume of imports resulting at X units, which was approx. 68% of total imports in 2022. It was distantly followed by the United States (X units), committing a 32% share of total imports.

Canada was also the fastest-growing in terms of the industrial, laboratory or bakery ovens imports, with a CAGR of +13.2% from 2012 to 2022. At the same time, the United States (+7.0%) displayed positive paces of growth. From 2012 to 2022, the share of Canada increased by +13 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported industrial, laboratory or bakery ovens in Northern America, comprising 84% of total imports. The second position in the ranking was taken by Canada ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +1.9%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per unit, which is down by -27.2% against the previous year. Overall, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2013 when the import price increased by 17% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-4.7%).

Source: IndexBox Platform

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