Colombia: Market for Pulley Tackle And Hoists Powered By An Electric Motor 2024

Market Size for Pulley Tackle And Hoists Powered By An Electric Motor in Colombia

After two years of growth, the Colombian market for pulley tackle and hoists powered by an electric motor decreased by -2.9% to $X in 2022. Overall, consumption saw a perceptible decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

Exports from Colombia

In 2022, the amount of pulley tackle and hoists powered by an electric motor exported from Colombia surged to X units, with an increase of 78% on 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of pulley tackle and hoists powered by an electric motor skyrocketed to $X in 2022. In general, exports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 452%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X units) was the main destination for exports of pulley tackle and hoists powered by an electric motor from Colombia, accounting for a 31% share of total exports. Moreover, exports of pulley tackle and hoists powered by an electric motor to Ecuador exceeded the volume sent to the second major destination, El Salvador (X units), threefold. The third position in this ranking was held by Guatemala (X units), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+41.4% per year) and Guatemala (0.0% per year).

In value terms, Ecuador ($X) remains the key foreign market for pulley tackle and hoists powered by an electric motor exports from Colombia, comprising 35% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 17% share of total exports. It was followed by Panama, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+3.7% per year) and Panama (-12.2% per year).

Export Prices by Country

The average export price for pulley tackle and hoists powered by an electric motor stood at $X per unit in 2022, with an increase of 112% against the previous year. Over the period under review, the export price, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2020 an increase of 219% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Guatemala ($X 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 Mexico (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

Imports into Colombia

In 2022, the amount of pulley tackle and hoists powered by an electric motor imported into Colombia dropped modestly to X units, reducing by -2.5% against the previous year's figure. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.1% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 119%. Over the period under review, imports of reached the peak figure at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, imports of pulley tackle and hoists powered by an electric motor shrank to $X in 2022. Over the period under review, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 45%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest pulley tackle and hoists powered by an electric motor supplier to Colombia, with a 82% share of total imports. Moreover, imports of pulley tackle and hoists powered by an electric motor from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Germany (X units), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.2% per year) and Germany (-11.0% per year).

In value terms, Spain ($X), China ($X) and the United States ($X) appeared to be the largest pulley tackle and hoists powered by an electric motor suppliers to Colombia, with a combined 41% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +20.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for pulley tackle and hoists powered by an electric motor stood at $X per unit in 2022, approximately reflecting the previous year. In general, the import price saw a drastic downturn. The most prominent rate of growth was recorded in 2021 an increase of 9.3%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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