Ecuador: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Ecuador

In 2022, after two years of growth, there was decline in the Ecuadorian gearboxes and speed changers market, when its value decreased by X% to $X. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Ecuador

In 2022, shipments abroad of gearboxes and speed changers decreased by X% to X tons, falling for the third consecutive year after three years of growth. In general, exports, however, enjoyed a moderate expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, gearboxes and speed changers exports expanded modestly to $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa (X tons) was the main destination for gearboxes and speed changers exports from Ecuador, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to South Africa exceeded the volume sent to the second major destination, Peru (X tons), fourfold. The United States (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to South Africa stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (X% per year) and the United States (X% per year).

In value terms, South Africa ($X) emerged as the key foreign market for gearboxes and speed changers exports from Ecuador, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual growth rate of value to South Africa stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Singapore (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price recorded a notable increase. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Peru ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Ecuador

In 2022, after three years of growth, there was decline in purchases abroad of gearboxes and speed changers, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, gearboxes and speed changers imports fell slightly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gearboxes and speed changers to Ecuador, with a X% share of total imports. Moreover, gearboxes and speed changers imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Brazil (X% per year).

In value terms, Mexico ($X), China ($X) and the United States ($X) appeared to be the largest gearboxes and speed changers suppliers to Ecuador, together accounting for X% of total imports.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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