Ecuador: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in Ecuador

The Ecuadorian pneumatic elevator market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, recorded a noticeable descent. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Pneumatic Elevator Exports

Exports from Ecuador

In 2022, the amount of pneumatic elevators and conveyors exported from Ecuador dropped markedly to X units, falling by -25% against 2021. Over the period under review, exports, however, continue to indicate temperate growth. The growth pace was the most rapid in 2013 with an increase of 250% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, pneumatic elevator exports skyrocketed to $X in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,468% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Peru (X units) and the United States (X units) were the main destinations of pneumatic elevator exports from Ecuador. Moreover, pneumatic elevator exports in Peru exceeded the figures recorded by the second-largest exporter, the United States, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +7.2%).

In value terms, Peru ($X) emerged as the key foreign market for pneumatic elevators and conveyors exports from Ecuador, comprising 97% of total exports. The second position in the ranking was held by the United States ($X), with a 2.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Peru amounted to +64.2%.

Export Prices by Country

In 2022, the average pneumatic elevator export price amounted to $X per unit, increasing by 56% against the previous year. Overall, the export price enjoyed significant growth. The growth pace was the most rapid in 2016 when the average export price increased by 848% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per unit), while the average price for exports to the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+53.2%), while the prices for the other major destinations experienced a decline.

Pneumatic Elevator Imports

Imports into Ecuador

In 2022, supplies from abroad of pneumatic elevators and conveyors was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2019 with an increase of 139% against the previous year. 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, pneumatic elevator imports surged to $X in 2022. Over the period under review, imports, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2018 with an increase of 74%. 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 units) constituted the largest pneumatic elevator supplier to Ecuador, with a 41% share of total imports. Moreover, pneumatic elevator imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. The third position in this ranking was held by Malaysia (X units), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+15.8% per year) and Malaysia (+10.6% per year).

In value terms, Italy ($X), Switzerland ($X) and Malaysia ($X) appeared to be the largest pneumatic elevator suppliers to Ecuador, with a combined 31% share of total imports. Canada, South Korea, France, China, Spain, Peru, Germany, the United States, India and Austria lagged somewhat behind, together comprising a further 41%.

South Korea, with a CAGR of +60.5%, recorded the highest rates of growth with regard to 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

The average pneumatic elevator import price stood at $X per unit in 2022, flattening at the previous year. Overall, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 105% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 Switzerland ($X per unit), while the price for China ($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 (+34.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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