Ecuador: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Ecuador

The Ecuadorian fuel or lubricating pump market skyrocketed to $X in 2021, increasing by 73% 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, recorded a noticeable decrease. Fuel or lubricating pump consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Ecuador

In 2021, exports of fuel, lubricating or cooling-medium pumps for internal combustion engines from Ecuador fell dramatically to X units, declining by -23.5% compared with the previous year. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 2,443% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, fuel or lubricating pump exports declined sharply to $X in 2021. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 3,060%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for fuel or lubricating pump exports from Ecuador, with a 46% share of total exports. Moreover, fuel or lubricating pump exports to the United States exceeded the volume sent to the second major destination, Angola (X units), twofold. The third position in this ranking was held by Germany (X units), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +49.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+240.8% per year) and Germany (+76.2% per year).

In value terms, the United States ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Ecuador, comprising 48% of total exports. The second position in the ranking was taken by Germany ($X), with a 12% share of total exports. It was followed by Denmark, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+58.5% per year) and Denmark (+18.9% per year).

Export Prices by Country

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, reducing by -4.9% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 when the average export price increased by 27%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Angola ($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 Colombia (+1.8%), while the prices for the other major destinations experienced a decline.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Ecuador

In 2021, imports of fuel, lubricating or cooling-medium pumps for internal combustion engines into Ecuador soared to X units, increasing by 54% against 2020 figures. Overall, imports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 64%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, fuel or lubricating pump imports soared to $X in 2021. Over the period under review, imports, however, showed a noticeable decline. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest fuel or lubricating pump supplier to Ecuador, accounting for a 55% share of total imports. Moreover, fuel or lubricating pump imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fivefold. The third position in this ranking was taken by Japan (X units), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-9.4% per year) and Japan (-10.4% per year).

In value terms, China ($X), the United States ($X) and Japan ($X) constituted the largest fuel or lubricating pump suppliers to Ecuador, with a combined 55% share of total imports.

China, with a CAGR of +5.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, rising by 13% against the previous year. In general, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuel or lubricating pump import price increased by +55.6% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 25%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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