Ecuador: Electric Water Heater Market 2025

Electric Water Heater Market Size in Ecuador

The Ecuadorian electric water heater market dropped rapidly to $X in 2022, waning by -18.4% 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). Over the period under review, consumption, however, showed a significant expansion. Electric water heater consumption peaked at $X in 2021, and then dropped remarkably in the following year.

Electric Water Heater Exports

Exports from Ecuador

In 2022, the amount of electric water heaters and immersion heaters exported from Ecuador dropped significantly to X units, falling by -59.2% on the previous year. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2016 with an increase of 1,200%. Over the period under review, the exports attained the maximum at X units in 2021, and then reduced sharply in the following year.

In value terms, electric water heater exports dropped significantly to $X in 2022. In general, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 59,314% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ireland (X units), Panama (X units) and Chile (X units) were the main destinations of electric water heater exports from Ecuador, together accounting for 79% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +38.5%), while the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), Panama ($X) and Chile ($X) were the largest markets for electric water heater exported from Ecuador worldwide, with a combined 82% share of total exports. Jamaica, the United States, Peru and Saint Lucia lagged somewhat behind, together comprising a further 17%.

Jamaica, with a CAGR of +132.3%, 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

The average electric water heater export price stood at $X per unit in 2022, jumping by 37% against the previous year. Over the period under review, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 an increase of 4,470% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 the United States ($X per unit), while the average price for exports to Saint Lucia ($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 Jamaica (+95.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Ecuador

In 2022, electric water heater imports into Ecuador shrank markedly to X units, waning by -19.2% against the year before. In general, imports, however, showed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 376%. Over the period under review, imports hit record highs at X units in 2021, and then contracted sharply in the following year.

In value terms, electric water heater imports reduced to $X in 2022. Overall, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 77%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Brazil (X units) constituted the largest electric water heater supplier to Ecuador, with a 81% share of total imports. Moreover, electric water heater imports from Brazil exceeded the figures recorded by the second-largest supplier, Colombia (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+29.5% per year) and China (+25.1% per year).

In value terms, Brazil ($X) constituted the largest supplier of electric water heaters and immersion heaters to Ecuador, comprising 61% of total imports. The second position in the ranking was held by China ($X), with a 9.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.6% per year) and Colombia (+9.6% per year).

Import Prices by Country

In 2022, the average electric water heater import price amounted to $X per unit, increasing by 6.2% against the previous year. Overall, the import price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the average import price increased by 20% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 China ($X per unit), while the price for Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-10.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :