Ecuador: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Ecuador

In 2022, the Ecuadorian ride-on compaction equipment market decreased by -6.6% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a abrupt decrease. Ride-on compaction equipment consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ride-On Compaction Equipment Exports

Exports from Ecuador

After three years of decline, shipments abroad of ride-on compaction equipment decreased by 0% to X units in 2022. In general, exports recorded a precipitous setback. The pace of growth was the most pronounced in 2018 when exports increased by 356% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, ride-on compaction equipment exports fell remarkably to $X in 2022. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by 360%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X units), the United States (X units) and Peru (X units) were the main destinations of ride-on compaction equipment exports from Ecuador, together comprising 80% of total exports. These countries were followed by Panama, which accounted for a further 20%. Moreover, ride-on compaction equipment exports in Colombia 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 Panama (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, the largest markets for ride-on compaction equipment exported from Ecuador were Colombia ($X), Peru ($X) and the United States ($X), with a combined 94% share of total exports.

Among the main countries of destination, Colombia, with a CAGR of +3.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average ride-on compaction equipment export price stood at $X per unit in 2022, waning by -17.8% against the previous year. In general, the export price, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2017 an increase of 207% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a lower figure.

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 Peru ($X per unit), while the average price for exports to Panama ($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 Colombia (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports into Ecuador

In 2022, after two years of growth, there was decline in overseas purchases of ride-on compaction equipment, when their volume decreased by -0.7% to X units. Over the period under review, imports recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 197%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ride-on compaction equipment imports fell notably to $X in 2022. In general, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 48%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Belgium (X units) constituted the largest supplier of ride-on compaction equipment to Ecuador, accounting for a 60% share of total imports. Moreover, ride-on compaction equipment imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Germany (X units), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.5% per year) and Germany (-16.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of ride-on compaction equipment to Ecuador, comprising 58% of total imports. The second position in the ranking was held by Switzerland ($X), with a 14% share of total imports. It was followed by China, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-0.3% per year) and China (-12.9% per year).

Import Prices by Country

The average ride-on compaction equipment import price stood at $X per unit in 2022, with a decrease of -15.7% against the previous year. In general, the import price showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 an increase of 119% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+70.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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