Colombia: Underground Continuous-Action Elevator Market 2025

Underground Continuous-Action Elevator Market Size in Colombia

The Colombian underground continuous-action elevator market dropped slightly to $X in 2021, with a decrease of -3.4% against the previous year. Overall, consumption, however, saw a deep slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Underground Continuous-Action Elevator Production in Colombia

In value terms, underground continuous-action elevator production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. Underground continuous-action elevator production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Underground Continuous-Action Elevator Exports

Exports from Colombia

In 2021, shipments abroad of underground continuous-action elevators and conveyors decreased by -3.8% to X units for the first time since 2015, thus ending a five-year rising trend. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 353% against the previous year. The exports peaked at X units in 2020, and then declined modestly in the following year.

In value terms, underground continuous-action elevator exports totaled $X in 2021. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 370%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Bolivia (X units) was the main destination for underground continuous-action elevator exports from Colombia, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Bolivia amounted to +32.4%.

In value terms, Bolivia ($X) emerged as the key foreign market for underground continuous-action elevators and conveyors exports from Colombia.

From 2012 to 2021, the average annual growth rate of value to Bolivia stood at +48.0%.

Export Prices by Country

The average underground continuous-action elevator export price stood at $X per unit in 2021, with an increase of 4.4% against the previous year. Over the period under review, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2020 an increase of 69% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Bolivia.

From 2012 to 2021, the rate of growth in terms of prices for Bolivia amounted to +11.8% per year.

Underground Continuous-Action Elevator Imports

Imports into Colombia

In 2021, overseas purchases of underground continuous-action elevators and conveyors increased by 407% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports showed noticeable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, underground continuous-action elevator imports surged to $X in 2021. In general, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Sweden (X units) and Peru (X units) were the main suppliers of underground continuous-action elevator imports to Colombia, with a combined 51% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +13.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Sweden ($X), China ($X) and Spain ($X) appeared to be the largest underground continuous-action elevator suppliers to Colombia, with a combined 53% share of total imports.

China, with a CAGR of +15.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average underground continuous-action elevator import price stood at $X per unit in 2021, jumping by 25% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, underground continuous-action elevator import price increased by +29.1% against 2017 indices. The pace of growth appeared the most rapid in 2017 an increase of 48% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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