Ecuador: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Ecuador

The Ecuadorian cranks and crankshafts market shrank sharply to $X in 2022, reducing by -17% 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, however, continues to indicate buoyant growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Ecuador

In 2022, approx. X tons of cranks and crankshafts were exported from Ecuador; jumping by 242% compared with 2021. In general, exports posted perceptible growth. The most prominent rate of growth was recorded in 2019 with an increase of 340%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cranks and crankshafts exports surged to $X in 2022. Over the period under review, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by 456% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons), the United States (X tons) and Peru (X tons) were the main destinations of cranks and crankshafts exports from Ecuador, together comprising 96% of total exports.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +16.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Colombia ($X) emerged as the key foreign market for cranks and crankshafts exports from Ecuador, comprising 61% of total exports. The second position in the ranking was held by the United States ($X), with a 26% share of total exports. It was followed by Peru, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to Colombia stood at +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.6% per year) and Peru (-7.1% per year).

Export Prices by Country

In 2022, the average cranks and crankshafts export price amounted to $X per ton, declining by -20.1% against the previous year. Overall, the export price, however, enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2014 an increase of 213% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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 Colombia ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+70.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Ecuador

In 2022, approx. X tons of cranks and crankshafts were imported into Ecuador; reducing by -15.6% on the year before. Over the period under review, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 56%. Imports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, cranks and crankshafts imports dropped to $X in 2022. In general, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 94%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest cranks and crankshafts supplier to Ecuador, with a 52% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.5% per year) and South Korea (+5.2% per year).

In value terms, the United States ($X), China ($X) and Singapore ($X) constituted the largest cranks and crankshafts suppliers to Ecuador, with a combined 59% share of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +28.9%, 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

In 2022, the average cranks and crankshafts import price amounted to $X per ton, flattening at the previous year. Over the period under review, the import price, however, saw a slight slump. The pace of growth was the most pronounced in 2019 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :