Ecuador: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Ecuador

In 2022, after two years of growth, there was significant decline in the Ecuadorian market for vacuum pumps and air or gas compressors, when its value decreased by -13.2% to $X. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in Ecuador

In value terms, production of vacuum pumps and air or gas compressors dropped to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt downturn. The growth pace was the most rapid in 2021 when the production volume increased by 8.7%. Production of peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Ecuador

In 2022, approx. X units of vacuum pumps and air or gas compressors were exported from Ecuador; falling by -32.1% on the previous year's figure. Over the period under review, exports, however, showed measured growth. The pace of growth was the most pronounced in 2021 when exports increased by 320%. As a result, the exports attained the peak of X units, and then contracted remarkably in the following year.

In value terms, exports of vacuum pumps and air or gas compressors contracted to $X in 2022. In general, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 324% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Ecuador, accounting for a 72% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to the United States exceeded the volume sent to the second major destination, Sweden (X units), sixfold. The third position in this ranking was taken by Bolivia (X units), with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+58.9% per year) and Bolivia (+47.7% per year).

In value terms, the largest markets for vacuum pump and air or gas compressor exported from Ecuador were the United States ($X), Colombia ($X) and Bangladesh ($X), together comprising 64% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +6.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, increasing by 31% against the previous year. In general, the export price, however, showed a abrupt slump. The growth pace was the most rapid in 2017 an increase of 103%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per unit), while the average price for exports to Sweden ($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 the United States (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Ecuador

In 2022, after two years of growth, there was significant decline in purchases abroad of vacuum pumps and air or gas compressors, when their volume decreased by -18.9% to X units. Overall, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. As a result, imports attained the peak of X units, and then dropped remarkably in the following year.

In value terms, imports of vacuum pumps and air or gas compressors shrank to $X in 2022. In general, imports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2017 when imports increased by 24%. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to Ecuador, with a 80% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+1.0% per year) and Taiwan (Chinese) (+10.5% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to Ecuador were China ($X), Brazil ($X) and Taiwan (Chinese) ($X), with a combined 63% share of total imports.

In terms of the main suppliers, China, with a CAGR of +10.8%, recorded the highest growth rate of 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 import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, increasing by 12% against the previous year. Over the period under review, the import price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2016 an increase of 17%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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