Dominican Republic: 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 the Dominican Republic

The Dominican market for pulley tackle and hoists powered by an electric motor soared to $X in 2022, rising by 74% 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). Overall, consumption showed a significant increase. Over the period under review, the market hit record highs at $X in 2017; afterwards, it flattened through to 2022.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

Exports from the Dominican Republic

After three years of growth, shipments abroad of pulley tackle and hoists powered by an electric motor decreased by -50% to X units in 2022. Overall, exports showed a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of 125%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of pulley tackle and hoists powered by an electric motor skyrocketed to $X in 2022. Over the period under review, exports, however, showed a pronounced increase. The pace of growth appeared the most rapid in 2021 when exports increased by 2,426%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Canada (X units), Haiti (X units) and Peru (X units) were the main destinations of exports of pulley tackle and hoists powered by an electric motor from the Dominican Republic. Moreover, exports of pulley tackle and hoists powered by an electric motor in Canada exceeded the figures recorded by the second-largest exporter, Haiti, twofold.

From 2012 to 2022, the biggest increases were recorded for Haiti (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Peru ($X) emerged as the key foreign market for pulley tackle and hoists powered by an electric motor exports from the Dominican Republic, comprising 75% of total exports. The second position in the ranking was held by Canada ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-7.7% per year) and Haiti (+12.6% 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, increasing by 730% against the previous year. Over the period under review, the export price recorded a prominent increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 1,479% against the previous year. The export price peaked 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 Peru ($X per unit), while the average price for exports to Haiti ($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 Haiti (+12.6%), while the prices for the other major destinations experienced a decline.

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

Imports into the Dominican Republic

In 2022, overseas purchases of pulley tackle and hoists powered by an electric motor increased by 82% to X units, rising for the second year in a row after three years of decline. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 288% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, imports of pulley tackle and hoists powered by an electric motor surged to $X in 2022. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 302% against the previous year. Over the period under review, imports of hit record highs at $X in 2017; however, from 2018 to 2022, imports 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 the Dominican Republic, accounting for a 52% 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, Panama (X units), threefold. The third position in this ranking was taken by Canada (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+65.8% per year) and Canada (+57.8% per year).

In value terms, Canada ($X), China ($X) and the United States ($X) were the largest pulley tackle and hoists powered by an electric motor suppliers to the Dominican Republic, with a combined 79% share of total imports.

Among the main suppliers, Canada, with a CAGR of +84.7%, 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

In 2022, the average import price for pulley tackle and hoists powered by an electric motor amounted to $X per unit, shrinking by -10.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 30%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per unit), while the price for Mexico ($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 (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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