Ecuador: Static Converter Market 2024

Static Converter Market Size in Ecuador

After two years of decline, the Ecuadorian static converter market increased by 51% to $X in 2021. Overall, consumption, however, continues to indicate a pronounced decline. Static converter consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Static Converter Exports

Exports from Ecuador

In 2021, shipments abroad of static converters decreased by -7.7% to X units, falling for the third year in a row after two years of growth. Over the period under review, exports, however, enjoyed a moderate increase. The most prominent rate of growth was recorded in 2018 with an increase of 3,335% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, static converter exports fell significantly to $X in 2021. Overall, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2014 when exports increased by 191%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Colombia (X units) and Peru (X units) were the main destinations of static converter exports from Ecuador, with a combined 17% share of total exports. These countries were followed by Panama, Germany, Costa Rica, Chile, Mexico, Denmark, China, India, the Netherlands and Argentina, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +61.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for static converter exported from Ecuador were the United States ($X), Germany ($X) and Costa Rica ($X), together comprising 52% of total exports.

In terms of the main countries of destination, Costa Rica, with a CAGR of +90.9%, 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

In 2021, the average static converter export price amounted to $X per unit, falling by -58% against the previous year. Over the period under review, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 1,048%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Costa Rica ($X per unit), while the average price for exports to China ($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 Costa Rica (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Ecuador

After two years of decline, overseas purchases of static converters increased by 57% to X units in 2021. Overall, imports, however, continue to indicate a abrupt decrease. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, static converter imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of static converter to Ecuador, accounting for a 47% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was taken by Brazil (X units), with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.6% per year) and Brazil (-21.2% per year).

In value terms, China ($X), the United States ($X) and Brazil ($X) were the largest static converter suppliers to Ecuador, with a combined 76% share of total imports.

In terms of the main suppliers, China, with a CAGR of +10.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average static converter import price stood at $X per unit in 2021, waning by -8.3% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, static converter import price decreased by -27.3% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 119% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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