Canada: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Canada

For the fourth consecutive year, the Canadian internal combustion engine equipment market recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption continues to indicate a deep slump. Internal combustion engine equipment consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in Canada

In value terms, internal combustion engine equipment production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from Canada

In 2022, overseas shipments of equipment for internal combustion engines increased by X% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, internal combustion engine equipment exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt curtailment. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for internal combustion engine equipment exports from Canada, accounting for a X% share of total exports. Moreover, internal combustion engine equipment exports to the United States exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was held by Belgium (X units), with a X% share.

From 2012 to 2022, 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: Germany (X% per year) and Belgium (X% per year).

In value terms, the United States ($X) remains the key foreign market for equipment for internal combustion engines exports from Canada, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Belgium (X% per year).

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, reducing by X% against the previous year. In general, the export price continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and the United States ($X per unit), while the average price for exports to the Netherlands ($X per unit) and Belgium ($X per unit) were amongst the lowest.

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

Imports of Equipment For Internal Combustion Engines

Imports into Canada

In 2022, supplies from abroad of equipment for internal combustion engines increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment imports reached $X in 2022. In general, imports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest internal combustion engine equipment supplier to Canada, with a X% share of total imports. Moreover, internal combustion engine equipment imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by Japan (X units), with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of equipment for internal combustion engines to Canada, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average internal combustion engine equipment import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and the United States ($X per unit), while the price for Croatia ($X per unit) and Germany ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform