Colombia: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in Colombia

In 2021, the Colombian self-propelled excavating machinery market increased by 202% to $X, rising for the second consecutive year after three years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Self-Propelled Excavating Machinery Exports

Exports from Colombia

In 2021, shipments abroad of self-propelled earth moving, excavating machinery decreased by 0% to X units, falling for the second consecutive year after seven years of growth. In general, exports posted a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 267% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, self-propelled excavating machinery exports dropped rapidly to $X in 2021. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 186% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for self-propelled excavating machinery exports from Colombia, with a 60% share of total exports. Moreover, self-propelled excavating machinery exports to Panama exceeded the volume sent to the second major destination, the UK (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume to Panama stood at +14.7%.

In value terms, Panama ($X) remains the key foreign market for self-propelled earth moving, excavating machinery exports from Colombia, comprising 67% of total exports. The second position in the ranking was taken by the UK ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Panama amounted to +92.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the United States (-26.2% per year).

Export Prices by Country

The average self-propelled excavating machinery export price stood at $X per unit in 2021, falling by -50.7% against the previous year. Overall, the export price, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2019 an increase of 125% against the previous year. The export price peaked at $X per unit in 2020, and then dropped dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to the UK amounted to $X per unit.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+46.6%).

Self-Propelled Excavating Machinery Imports

Imports into Colombia

In 2021, the amount of self-propelled earth moving, excavating machinery imported into Colombia skyrocketed to X units, with an increase of 188% on the year before. Overall, imports recorded a mild expansion. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, self-propelled excavating machinery imports skyrocketed to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X units) constituted the largest self-propelled excavating machinery supplier to Colombia, with a 31% share of total imports. Moreover, self-propelled excavating machinery imports from India exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was held by Brazil (X units), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +57.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+17.9% per year) and Brazil (+37.9% per year).

In value terms, France ($X), China ($X) and Peru ($X) appeared to be the largest self-propelled excavating machinery suppliers to Colombia, together accounting for 53% of total imports. These countries were followed by Brazil, the UK, Germany, India, Canada, Italy, the United States, Spain and Japan, which together accounted for a further 34%.

Among the main suppliers, India, with a CAGR of +55.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average self-propelled excavating machinery import price stood at $X per unit in 2021, declining by -1.8% against the previous year. In general, the import price recorded a pronounced decline. The pace of growth was the most pronounced in 2016 when the average import price increased by 175%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+85.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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