Ecuador: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Ecuador

The Ecuadorian oil dispensing pump market skyrocketed to $X in 2021, growing by 129% 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). Overall, consumption posted measured growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Oil Dispensing Pump Exports

Exports from Ecuador

In 2021, shipments abroad of petrol and oil dispensing pumps decreased by 0% to X units, falling for the fourth year in a row after six years of growth. Over the period under review, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 475%. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, oil dispensing pump exports totaled $X in 2021. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2014 when exports increased by 319% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for oil dispensing pump exports from Ecuador, accounting for a approx. 86% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +9.1%.

In value terms, the United States ($X) remains the key foreign market for petrol and oil dispensing pumps exports from Ecuador, comprising 95% of total exports. The second position in the ranking was taken by Chile ($X), with a 0.5% share of total exports. It was followed by Sudan, with a 0.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +49.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+28.4% per year) and Sudan (-47.4% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, falling by -3.9% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by 20% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Chile ($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 Chile (+20.5%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Ecuador

In 2021, overseas purchases of petrol and oil dispensing pumps were finally on the rise to reach X units after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 98%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, oil dispensing pump imports surged to $X in 2021. Over the period under review, imports recorded a temperate increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), India (X units) and the United States (X units) were the main suppliers of oil dispensing pump imports to Ecuador, together accounting for 65% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +55.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and China ($X) appeared to be the largest oil dispensing pump suppliers to Ecuador, together comprising 89% of total imports. India and Spain lagged somewhat behind, together comprising a further 2.6%.

India, with a CAGR of +34.5%, saw 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 oil dispensing pump import price stood at $X per unit in 2021, jumping by 25% against the previous year. In general, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oil dispensing pump import price increased by +46.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 48% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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