Canada: Lock And Key Market 2024

Lock And Key Market Size in Canada

The Canadian lock and key market dropped to $X in 2023, waning 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). Over the period under review, consumption saw a noticeable decrease. Lock and key consumption peaked at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Lock And Key Exports

Exports from Canada

After two years of growth, overseas shipments of padlocks, locks and keys of base metal decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, lock and key exports expanded markedly to $X in 2023. In general, total exports indicated a temperate 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. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for lock and key exports from Canada, with a X% share of total exports. Moreover, lock and key exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States stood at X%.

In value terms, the United States ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Canada, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to the United States totaled X%.

Export Prices by Country

The average lock and key export price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Lock And Key Imports

Imports into Canada

In 2023, after two years of growth, there was significant decline in purchases abroad of padlocks, locks and keys of base metal, when their volume decreased by X% to X tons. Over the period under review, total imports indicated a resilient increase from 2012 to 2023: its volume 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. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then contracted in the following year.

In value terms, lock and key imports dropped to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then declined in the following year.

Imports by Country

The United States (X tons), China (X tons) and Mexico (X tons) were the main suppliers of lock and key imports to Canada, with a combined X% share of total imports. Taiwan (Chinese), Austria, Japan and Germany 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 Austria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Mexico ($X) constituted the largest lock and key suppliers to Canada, with a combined X% share of total imports. Taiwan (Chinese), Japan, Germany and Austria lagged somewhat behind, together comprising a further X%.

Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average lock and key import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible contraction. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Austria ($X per ton) 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 a decline.

Source: IndexBox Platform