Canada: Market for Machine Tools For Working Metal Without Removing Metal 2023

Market Size for Machine Tools For Working Metal Without Removing Metal in Canada

The Canadian machine tool for metal market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption saw mild growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Canada

In 2021, the amount of machine tools for working metal without removing metal exported from Canada shrank sharply to X units, which is down by -18% against the year before. Overall, exports saw a perceptible decline. The pace of growth was the most pronounced in 2017 when exports increased by 91% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, machine tool for metal exports dropped dramatically to $X in 2021. Over the period under review, exports recorded a perceptible decline. The pace of growth was the most pronounced in 2015 when exports increased by 84% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for machine tool for metal exports from Canada, accounting for a 96% share of total exports. It was followed by the United Arab Emirates (X units), with a 1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -2.5%.

In value terms, the United States ($X) remains the key foreign market for machine tools for working metal without removing metal exports from Canada, comprising 83% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 0.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -3.1%.

Export Prices by Country

The average machine tool for metal export price stood at $X per unit in 2021, declining by -1.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 76%. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+0.1%).

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Canada

In 2021, overseas purchases of machine tools for working metal without removing metal increased by 0.4% to X units, rising for the second year in a row after two years of decline. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 113%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, machine tool for metal imports fell slightly to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 45%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest machine tool for metal supplier to Canada, with a 69% share of total imports. Moreover, machine tool for metal imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by Malaysia (X units), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.4% per year) and Malaysia (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of machine tools for working metal without removing metal to Canada, comprising 66% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by China, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+22.8% per year) and China (+3.4% per year).

Import Prices by Country

The average machine tool for metal import price stood at $X per unit in 2021, with a decrease of -4.7% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 54% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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