Canada: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Canada

In 2022, the Canadian gear cutting machine market decreased by X% to $X, falling for the third consecutive year after four years of growth. Overall, consumption saw a slight contraction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Gear Cutting Machine Production in Canada

In value terms, gear cutting machine production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume decreased by X%. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in the near future.

Gear Cutting Machine Exports

Exports from Canada

For the third year in a row, Canada recorded growth in overseas shipments of gear cutting, gear grinding or gear finishing machines, which increased by X% to X units in 2022. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. 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, gear cutting machine exports soared to $X in 2022. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for gear cutting machine exports from Canada, accounting for a X% share of total exports. Moreover, gear cutting machine exports to the United States exceeded the volume sent to the second major destination, Italy (X units), fivefold. The third position in this ranking was taken by India (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: Italy (X% per year) and India (X% per year).

In value terms, the United States ($X) remains the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Canada, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by India, with an 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: Italy (X% per year) and India (X% per year).

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Israel ($X per unit) was amongst the lowest.

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

Gear Cutting Machine Imports

Imports into Canada

In 2022, purchases abroad of gear cutting, gear grinding or gear finishing machines was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports showed resilient growth. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gear cutting machine imports totaled $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X units), the Netherlands (X units) and Switzerland (X units) were the main suppliers of gear cutting machine imports to Canada, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Canada, comprising X% of total imports. The second position in the ranking was taken by Switzerland ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average gear cutting machine import price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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