Price for Electric Motors; of an Output Not Exceeding 37.5W in Canada - 2024
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Canada (CIF) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Canada (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Canada
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Canada
Price for Electric Motors; of an Output Not Exceeding 37.5W in Canada (CIF) - 2022
In 2022, the average import price for electric motors amounted to $10 per unit, surging by 15% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for electric motors increased by +84.3% against 2016 indices. The pace of growth was the most pronounced in 2019 an increase of 17%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.
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 South Korea ($31 per unit), while the price for China ($4 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Canada (FOB) - 2022
The average export price for electric motors stood at $22 per unit in 2022, approximately reflecting the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for electric motors increased by +14.6% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 64% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($31 per unit), while the average price for exports to the United States ($19 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 China (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Canada
Imports of electric motors into Canada dropped to 33M units in 2022, falling by -5.6% against 2021 figures. In general, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 11%. Imports peaked at 41M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, imports of electric motors expanded markedly to $341M in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 82.5 | 75.7 | 81.8 | 104 | 8.0% |
| China | 84.2 | 64.3 | 77.5 | 74.3 | -4.1% |
| South Korea | 35.1 | 24.7 | 38.6 | 41.9 | 6.1% |
| Mexico | 27.8 | 25.4 | 33.9 | 38.2 | 11.2% |
| Austria | 16.4 | 10.9 | 8.5 | 8.8 | -18.7% |
| Malaysia | 5.3 | 4.9 | 5.7 | 5.9 | 3.6% |
| Others | 66.1 | 67.8 | 68.9 | 67.5 | 0.7% |
| Total | 317 | 274 | 315 | 341 | 2.5% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Canada in 2022:
- China (18.8M units)
- United States (6.4M units)
- Mexico (2.6M units)
- South Korea (1.3M units)
- Austria (0.9M units)
- Malaysia (0.6M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Canada
For the fourth consecutive year, Canada recorded growth in shipments abroad of electric motors, which increased by 0.9% to 4.6M units in 2022. The total export volume increased at an average annual rate of +8.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 16% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in the immediate term.
In value terms, exports of electric motors reached $102M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +15.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.2% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 44.1 | 52.3 | 67.2 | 74.5 | 19.1% |
| Mexico | 1.5 | 4.1 | 7.1 | 6.7 | 64.7% |
| China | 0.7 | 0.8 | 2.2 | 5.6 | 100.0% |
| Others | 20.3 | 18.5 | 24.2 | 15.2 | -9.2% |
| Total | 66.6 | 75.6 | 101 | 102 | 15.3% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Canada in 2022:
- United States (4.0M units)
- China (0.3M units)
- Mexico (0.2M units)
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