Canada: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2024

Market Size for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in Canada

The Canadian market for fork-lift trucks and other industrial works trucks and tractors rose to $X in 2019, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a abrupt downturn. As a result, consumption attained the peak level of $X. From 2018 to 2019, the growth of the market failed to regain momentum.

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports from Canada

In 2023, overseas shipments of fork-lift trucks and other industrial works trucks and tractors decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, exports, however, continue to indicate mild growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports reached the peak of X units. From 2019 to 2023, the growth of the exports of failed to regain momentum.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors surged to $X in 2023. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs in 2023 and are likely to continue growth in years to come.

Exports by Country

The United States (X units) was the main destination for exports of fork-lift trucks and other industrial works trucks and tractors from Canada, accounting for a X% share of total exports. Moreover, exports of fork-lift trucks and other industrial works trucks and tractors to the United States exceeded the volume sent to the second major destination, the UK (X units), more than tenfold. Australia (X units) ranked third in terms of total exports 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 UK (X% per year) and Australia (X% per year).

In value terms, the United States ($X) remains the key foreign market for fork-lift trucks and other industrial works trucks and tractors exports from Canada, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

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

Export Prices by Country

The average export price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2023, picking up by X% against the previous year. In general, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to South Korea ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports into Canada

In 2023, approx. X units of fork-lift trucks and other industrial works trucks and tractors were imported into Canada; reducing by X% compared with 2022. Over the period under review, imports, however, enjoyed a moderate increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports of remained at a lower figure.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors soared to $X in 2023. Overall, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports of hit record highs in 2023 and are likely to continue growth in the immediate term.

Imports by Country

China (X units), the United States (X units) and Italy (X units) were the main suppliers of imports of fork-lift trucks and other industrial works trucks and tractors to Canada, together accounting for X% of total imports. France, Sweden, South Korea, Germany and Ireland lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X) constituted the largest supplier of fork-lift trucks and other industrial works trucks and tractors to Canada, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by Italy, with a X% share.

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

Import Prices by Country

In 2023, the average import price for fork-lift trucks and other industrial works trucks and tractors amounted to $X per unit, picking up by X% against the previous year. In general, the import price continues to indicate tangible growth. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, average import prices attained the peak figure in 2023 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform