Ecuador: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Ecuador

In 2022, the Ecuadorian market for lifts, elevators, moving stairways and draglines increased by 8% to $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Ecuador

Lift, elevator, stairway and dragline exports from Ecuador soared to X units in 2022, rising by 20% compared with the previous year. Overall, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 145% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, lift, elevator, stairway and dragline exports soared to $X in 2022. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 227% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Slovakia (X units) was the main destination for lift, elevator, stairway and dragline exports from Ecuador, accounting for a 25% share of total exports. Moreover, lift, elevator, stairway and dragline exports to Slovakia exceeded the volume sent to the second major destination, Norway (X units), threefold. Ethiopia (X units) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (0.0% per year) and Ethiopia (0.0% per year).

In value terms, Slovakia ($X) remains the key foreign market for lifts, elevators, moving stairways and draglines exports from Ecuador, comprising 39% of total exports. The second position in the ranking was taken by Ethiopia ($X), with an 8.7% share of total exports. It was followed by Norway, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia stood at +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+2.5% per year) and Norway (+43.3% per year).

Export Prices by Country

In 2022, the average export price for lifts, elevators, moving stairways and draglines amounted to $X per unit, jumping by 96% against the previous year. Overall, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of 227%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while the average price for exports to South Korea ($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 Norway (+43.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Ecuador

In 2022, purchases abroad of lifts, elevators, moving stairways and draglines was finally on the rise to reach X units after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 95%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, lift, elevator, stairway and dragline imports expanded markedly to $X in 2022. Over the period under review, imports showed a pronounced increase. The most prominent rate of growth was recorded in 2019 when imports increased by 88%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Panama (X units), China (X units) and Spain (X units) were the main suppliers of lift, elevator, stairway and dragline imports to Ecuador, with a combined 64% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +72.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lift, elevator, stairway and dragline suppliers to Ecuador were Panama ($X), China ($X) and Thailand ($X), together accounting for 58% of total imports.

Panama, with a CAGR of +103.2%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average import price for lifts, elevators, moving stairways and draglines amounted to $X per unit, surging by 5.3% against the previous year. Overall, the import price continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2020 an increase of 61%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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