Canada - Trucks - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCanada's Truck Price Grows 2% to $34,163 per Unit After Three Consecutive Months of Growth
Canada Truck Import Price in February 2023
In February 2023, the truck price amounted to $34,163 per unit (CIF, Canada), picking up by 1.7% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in December 2022 when the average import price increased by 1.9% m-o-m. Over the period under review, average import prices hit record highs at $34,732 per unit in September 2022; however, from October 2022 to February 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In February 2023, the country with the highest price was Mexico ($35,920 per unit), while the price for the United States stood at $33,602 per unit.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Mexico (+0.6%).
| COUNTRY | Import Price of Truck in Canada (USD per unit) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | |
| Mexico | 33,414 | 33,904 | 31,858 | 32,869 | 37,961 | 35,304 | 33,904 | 33,096 | 33,754 | 34,573 | 33,043 | 34,654 | 35,920 |
| United States | 34,473 | 32,217 | 33,602 | 33,400 | 33,295 | 34,083 | 34,160 | 35,375 | 33,905 | 31,885 | 32,912 | 33,081 | 33,602 |
| Average | 34,182 | 32,571 | 33,184 | 33,377 | 34,017 | 34,527 | 34,116 | 34,732 | 33,899 | 32,412 | 33,038 | 33,577 | 34,163 |
Canada Truck Import Prices by Type
There were significant differences in the average prices amongst the major supplied products. In February 2023, the product with the highest price was diesel or semi-diesel trucks of a g.v.w. over 20 tonnes ($224K per unit), while the price for spark-ignition trucks of a g.v.w. under 5 tonnes ($27,870 per unit) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by trucks other than diesel or spark-ignition (+0.0%), while the prices for the other products experienced mixed trend patterns.
Canada Truck Imports
In February 2023, the amount of trucks imported into Canada dropped to 33K units, which is down by -6.8% compared with the previous month. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2022 when imports increased by 39% against the previous month. Over the period under review, imports reached the peak figure at 47K units in November 2022; however, from December 2022 to February 2023, imports stood at a somewhat lower figure.
In value terms, truck imports contracted to $1.1B (IndexBox estimates) in February 2023. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 when imports increased by 33% month-to-month. Over the period under review, imports reached the peak figure at 1.6B units in October 2022; however, from November 2022 to February 2023, imports stood at a somewhat lower figure.
Canada Truck Imports by Type
In February 2023, spark-ignition trucks of a g.v.w. under 5 tonnes (26K units) constituted the largest type of truck supplied to Canada, accounting for a 78% share of total imports. Moreover, spark-ignition trucks of a g.v.w. under 5 tonnes exceeded the figures recorded for the second-largest type, diesel or semi-diesel trucks of a g.v.w. under 5 tonnes (4.9K units), fivefold. Diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (1.5K units) ranked third in terms of total imports with a 4.7% share.
From February 2022 to February 2023, the average monthly rate of growth in terms of the volume of import of spark-ignition trucks of a g.v.w. under 5 tonnes was relatively modest. With regard to the other supplied products, the following average monthly rates of growth were recorded: diesel or semi-diesel trucks of a g.v.w. under 5 tonnes (-1.2% per month) and diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (-0.8% per month).
In value terms, spark-ignition trucks of a g.v.w. under 5 tonnes ($720M) constituted the largest type of truck supplied to Canada, comprising 64% of total imports. The second position in the ranking was taken by diesel or semi-diesel trucks of a g.v.w. under 5 tonnes ($137M), with a 12% share of total imports. It was followed by diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes, with an 11% share.
Canada Truck Imports by Country
In February 2023, the United States (25K units) constituted the largest supplier of truck to Canada, accounting for a 77% share of total imports. Moreover, truck imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (7K units), fourfold.
From February 2022 to February 2023, the average monthly growth rate of volume from the United States stood at +1.3%.
In value terms, the United States ($852M) constituted the largest supplier of truck to Canada, comprising 75% of total imports. The second position in the ranking was held by Mexico ($253M), with a 22% share of total imports.
From February 2022 to February 2023, the average monthly growth rate of value from the United States stood at +1.0%.
This report provides an in-depth analysis of the truck market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29104110 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight . 5 tonnes (excluding dumpers for off-highway use)
- Prodcom 29104130 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight > 5 tonnes but . .20 tonnes (including vans) (excluding dumpers for off-highway use, tractors)
- Prodcom 29104140 - Goods vehicles with compression-ignition internal combustion piston engine (diesel or semi-diesel), of a gross vehicle weight > .20 tonnes (excluding dumpers designed for offhighway use)
- Prodcom 29104200 - Goods vehicles, with spark-ignition internal combustion piston engine, other goods vehicles, new
Country coverage:
- Canada
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Canada
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
