Ecuador: Market for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals 2024

Market Size for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals in Ecuador

The Ecuadorian market for fully or partly automatic electric machines for arc welding of metals fell dramatically to $X in 2022, declining by -31.7% 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). In general, consumption recorded a perceptible reduction. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Exports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Exports from Ecuador

In 2022, after two years of decline, there was significant growth in shipments abroad of fully or partly automatic electric machines for arc welding of metals, when their volume increased by 160% to X units. In general, exports recorded a resilient increase. The growth pace was the most rapid in 2014 with an increase of 1,250%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, exports of fully or partly automatic electric machines for arc welding of metals surged to $X in 2022. Overall, exports showed a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 2,755%. Over the period under review, the exports of attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for exports of fully or partly automatic electric machines for arc welding of metals from Ecuador, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia amounted to +22.2%.

In value terms, Colombia ($X) also remains the key foreign market for fully or partly automatic electric machines for arc welding of metals exports from Ecuador.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at +18.8%.

Export Prices by Country

The average export price for fully or partly automatic electric machines for arc welding of metals stood at $X per unit in 2022, reducing by -54% against the previous year. In general, the export price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 196%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then declined remarkably in the following year.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +107.4% per year.

Imports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Imports into Ecuador

In 2022, approx. X units of fully or partly automatic electric machines for arc welding of metals were imported into Ecuador; with a decrease of -29.7% against the previous year's figure. In general, imports recorded a noticeable descent. The growth pace was the most rapid in 2013 when imports increased by 184%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of fully or partly automatic electric machines for arc welding of metals shrank rapidly to $X in 2022. Overall, imports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 with an increase of 162%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest fully or partly automatic arc welding machine supplier to Ecuador, with a 64% share of total imports. Moreover, imports of fully or partly automatic electric machines for arc welding of metals from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The third position in this ranking was held by Poland (X units), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+51.7% per year) and Poland (-16.1% per year).

In value terms, the largest fully or partly automatic arc welding machine suppliers to Ecuador were South Korea ($X), China ($X) and the United States ($X), with a combined 73% share of total imports.

South Korea, with a CAGR of +56.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for fully or partly automatic electric machines for arc welding of metals amounted to $X per unit, declining by -1.6% against the previous year. Over the period under review, the import price showed a perceptible decline. The pace of growth appeared the most rapid in 2017 an increase of 64%. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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