Ecuador: Suspension System Market 2025

Suspension System Market Size in Ecuador

The Ecuadorian suspension system market shrank remarkably to $X in 2022, declining by -17.4% 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). Over the period under review, consumption recorded a slight contraction. Suspension system consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Suspension System Exports

Exports from Ecuador

In 2022, approx. X tons of suspension systems were exported from Ecuador; which is down by -40.9% against the previous year's figure. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 339%. As a result, the exports attained the peak of X tons, and then reduced sharply in the following year.

In value terms, suspension system exports contracted dramatically to $X in 2022. In general, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 354%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for suspension system exports from Ecuador, with a 59% share of total exports. Moreover, suspension system exports to Colombia exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was held by the United States (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-2.6% per year) and the United States (+36.4% per year).

In value terms, the largest markets for suspension system exported from Ecuador were Colombia ($X), the United States ($X) and Belgium ($X), together accounting for 96% of total exports.

The United States, with a CAGR of +52.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average suspension system export price amounted to $X per ton, picking up by 7.5% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, suspension system export price decreased by -13.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 75%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

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 the United States ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.8%), while the prices for the other major destinations experienced mixed trend patterns.

Suspension System Imports

Imports into Ecuador

In 2022, approx. X tons of suspension systems were imported into Ecuador; declining by -15.4% against 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, suspension system imports shrank notably to $X in 2022. Over the period under review, imports showed a slight shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 55% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest suspension system supplier to Ecuador, with a 53% share of total imports. Moreover, suspension system imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was taken by Colombia (X tons), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+1.1% per year) and Colombia (-6.9% per year).

In value terms, China ($X) constituted the largest supplier of suspension systems to Ecuador, comprising 34% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+3.6% per year) and the United States (-6.7% per year).

Import Prices by Country

The average suspension system import price stood at $X per ton in 2022, declining by -2.7% against the previous year. Overall, the import price recorded a mild descent. The pace of growth was the most pronounced in 2021 when the average import price increased by 7.3%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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