Canada: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Canada

In 2023, the Canadian electric soldering iron market decreased by X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Electric Soldering Iron Exports

Exports from Canada

In 2023, overseas shipments of electric soldering irons and guns increased by X% to X units, rising for the second year in a row after three years of decline. Over the period under review, exports, however, showed a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, electric soldering iron exports skyrocketed to $X in 2023. In general, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for electric soldering iron exports from Canada, accounting for a X% share of total exports. Moreover, electric soldering iron exports to the United States exceeded the volume sent to the second major destination, Austria (X units), eightfold. The third position in this ranking was taken by Cuba (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and Cuba (X% per year).

In value terms, the United States ($X) remains the key foreign market for electric soldering irons and guns exports from Canada, comprising X% of total exports. The second position in the ranking was held by Austria ($X), with a X% share of total exports. It was followed by Cuba, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and Cuba (X% per year).

Export Prices by Country

In 2023, the average electric soldering iron export price amounted to $X per unit, increasing by X% against the previous year. Overall, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2013 an increase of X%. The export price peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Soldering Iron Imports

Imports into Canada

In 2023, the amount of electric soldering irons and guns imported into Canada contracted rapidly to X units, falling by X% on the previous year's figure. In general, imports showed a mild shrinkage. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, electric soldering iron imports contracted to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, China (X units) constituted the largest supplier of electric soldering iron to Canada, accounting for a X% share of total imports. Moreover, electric soldering iron imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest electric soldering iron suppliers to Canada were Mexico ($X), Thailand ($X) and China ($X), together comprising X% of total imports.

Among the main suppliers, Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electric soldering iron import price stood at $X per unit in 2023, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2023 and is likely to continue growth in years to come.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform