Ecuador: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Ecuador

For the fourth consecutive year, the Ecuadorian air conditioning machine market recorded decline in sales value, which decreased by -13.5% to $X in 2021. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Air Conditioning Machine Production in Ecuador

In value terms, air conditioning machine production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +50.4% against 2015 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 62%. Air conditioning machine production peaked at $X in 2020, and then dropped in the following year.

Air Conditioning Machine Exports

Exports from Ecuador

In 2021, air conditioning machine exports from Ecuador soared to X units, growing by 46% compared with the previous year. In general, exports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 222% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, air conditioning machine exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 142% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Panama (X units), Estonia (X units) and Canada (X units) were the main destinations of air conditioning machine exports from Ecuador, together accounting for 86% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +142.4%), while the other leaders experienced more modest paces of growth.

In value terms, Panama ($X), the Dominican Republic ($X) and Estonia ($X) constituted the largest markets for air conditioning machine exported from Ecuador worldwide, with a combined 76% share of total exports.

Estonia, with a CAGR of +89.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average air conditioning machine export price amounted to $X per unit, shrinking by -12.6% against the previous year. Over the period under review, the export price recorded a abrupt slump. The pace of growth was the most pronounced in 2016 when the average export price increased by 59% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Ecuador

In 2021, purchases abroad of air conditioning machines decreased by -12.8% to X units for the first time since 2016, thus ending a four-year rising trend. Overall, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 48%. Imports peaked at X units in 2020, and then reduced in the following year.

In value terms, air conditioning machine imports contracted to $X in 2021. In general, imports recorded a mild curtailment. The growth pace was the most rapid in 2014 with an increase of 54%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of air conditioning machine to Ecuador, accounting for a 89% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), more than tenfold. South Korea (X units) ranked third in terms of total imports with a 1.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-0.5% per year) and South Korea (-14.1% per year).

In value terms, China ($X) constituted the largest supplier of air conditioning machine to Ecuador, comprising 78% of total imports. The second position in the ranking was held by Panama ($X), with a 9.4% share of total imports. It was followed by the United States, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-1.9% per year) and the United States (-20.1% per year).

Import Prices by Country

The average air conditioning machine import price stood at $X per unit in 2021, dropping by -2% against the previous year. Over the period under review, the import price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2017 an increase of 8.8%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+51.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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