Ecuador: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in Ecuador

The Ecuadorian market for in-hand motor grinders, sanders and planers soared to $X in 2021, rising by 96% 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 saw tangible growth. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Ecuador

In 2021, shipments abroad of in-hand motor grinders, sanders and planers increased by 194% to X units, rising for the fourth consecutive year after two years of decline. Over the period under review, exports posted perceptible growth. Over the period under review, the exports of reached the maximum at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, exports of in-hand motor grinders, sanders and planers surged to $X in 2021. In general, exports recorded prominent growth. Over the period under review, the exports of attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico (X units), Spain (X units) and Costa Rica (X units) were the main destinations of exports of in-hand motor grinders, sanders and planers from Ecuador, with a combined 80% share of total exports.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +92.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electromechanical tools for working in the hand, with self-contained electric motor exported from Ecuador were Mexico ($X), Spain ($X) and Costa Rica ($X), with a combined 79% share of total exports.

Among the main countries of destination, Spain, with a CAGR of +100.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, rising by 7.8% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for in-hand motor grinders, sanders and planers decreased by -2.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 37%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to Peru ($X per unit) and the United States ($X per unit), while the average price for exports to Panama ($X per unit) and Mexico ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Ecuador

In 2021, supplies from abroad of in-hand motor grinders, sanders and planers was finally on the rise to reach X units after two years of decline. Overall, imports showed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of in-hand motor grinders, sanders and planers soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest electromechanical tools for working in the hand, with self-contained electric motor supplier to Ecuador, with a 68% share of total imports. Moreover, imports of in-hand motor grinders, sanders and planers from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Panama (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.6% per year) and Panama (-12.9% per year).

In value terms, the United States ($X), China ($X) and Panama ($X) appeared to be the largest electromechanical tools for working in the hand, with self-contained electric motor suppliers to Ecuador, with a combined 95% share of total imports.

Among the main suppliers, China, with a CAGR of +10.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, dropping by -6.1% against the previous year. Over the period under review, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 8.5% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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