Canada: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Canada

In 2023, after three years of growth, there was significant decline in the Canadian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when its value decreased by X% to $X. Overall, the total consumption indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2022, and then fell rapidly in the following year.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Canada

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) shrank to $X in 2023 estimated in export price. In general, production, however, posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Canada

In 2023, overseas shipments of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a strong increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs in 2023 and are expected to retain growth in years to come.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2023. Overall, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Canada, accounting for a X% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), sevenfold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and China (X% per year).

In value terms, the United States ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Canada, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per unit, rising by X% against the previous year. Overall, the export price saw a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United Arab Emirates ($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.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Canada

After two years of growth, overseas purchases of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by X% to X units in 2023. In general, imports continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports of reached the maximum at X units in 2022, and then fell dramatically in the following year.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reduced to $X in 2023. Overall, total imports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports of attained the maximum at $X in 2022, and then contracted in the following year.

Imports by Country

The United States (X units), Thailand (X units) and China (X units) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Canada.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Canada, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and China (X% per year).

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per unit in 2023, picking up by X% against the previous year. In general, the import price enjoyed a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform