Report Update Jan 1, 2025

Ecuador - Trucks - Market Analysis, Forecast, Size, Trends and Insights

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Ecuador: Truck Market 2025

Truck Market Size in Ecuador

The Ecuadorian truck market declined remarkably to $X in 2022, which is down by -17.2% against the previous year. Overall, consumption saw a noticeable decline. Truck consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Truck Production in Ecuador

In value terms, truck production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2016 with an increase of 29% against the previous year. Truck production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Truck Exports

Exports from Ecuador

In 2022, after three years of decline, there was significant growth in overseas shipments of trucks, when their volume increased by 147% to X units. Over the period under review, exports, however, recorded a dramatic decline. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, truck exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a sharp slump. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for truck exports from Ecuador, accounting for a 95% share of total exports. Moreover, truck exports to Colombia exceeded the volume sent to the second major destination, Venezuela (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled -19.1%.

In value terms, Colombia ($X) remains the key foreign market for trucks exports from Ecuador, comprising 90% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 3.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia totaled -20.9%.

Export Prices by Country

In 2022, the average truck export price amounted to $X per unit, shrinking by -9% against the previous year. Overall, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per unit), while the average price for exports to Venezuela amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (-2.1%).

Truck Imports

Imports into Ecuador

In 2022, approx. X units of trucks were imported into Ecuador; dropping by -19.9% compared with 2021 figures. Over the period under review, imports showed a noticeable reduction. The growth pace was the most rapid in 2017 when imports increased by 109% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, truck imports dropped markedly to $X in 2022. Overall, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 88%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Thailand (X units) and the United States (X units) were the main suppliers of truck imports to Ecuador, with a combined 66% share of total imports. These countries were followed by Argentina, Japan, Colombia and Mexico, which together accounted for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +17.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest truck suppliers to Ecuador were China ($X), Thailand ($X) and Colombia ($X), with a combined 63% share of total imports. These countries were followed by Argentina, Japan, the United States and Mexico, which together accounted for a further 28%.

Among the main suppliers, Argentina, with a CAGR of +17.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average truck import price stood at $X per unit in 2022, remaining constant against the previous year. In general, the import price, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 5.4% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Colombia ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for trucks in the world?

The country with the largest volume of truck consumption was Saudi Arabia, accounting for 86% of total volume. Moreover, truck consumption in Saudi Arabia exceeded the figures recorded by the second-largest consumer, China, more than tenfold. The third position in this ranking was occupied by the United States, with a 1.8% share.

What are the largest producers of trucks in the world?

The countries with the highest volumes of truck production in 2020 were China, Japan and Mexico, together accounting for 56% of global production.

What are the leading suppliers of trucks to Ecuador?

In value terms, Thailand, China and Colombia appeared to be the largest truck suppliers to Ecuador, with a combined 72% share of total imports. These countries were followed by Japan, Argentina, Spain and Turkey, which together accounted for a further 17%.

What are the leading importers of trucks from Ecuador?

In value terms, Colombia remains the key foreign market for truck exports from Ecuador.

What is the average export price for trucks in Ecuador?

In 2020, the average truck export price amounted to $18,611 per unit, increasing by 4.3% against the previous year.

What is the average import price for trucks in Ecuador?

In 2020, the average truck import price amounted to $16,543 per unit, which is down by -7.6% against the previous year.

This report provides an in-depth analysis of the truck market in Ecuador. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29104110 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight . 5 tonnes (excluding dumpers for off-highway use)
Prodcom 29104130 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight > 5 tonnes but . .20 tonnes (including vans) (excluding dumpers for off-highway use, tractors)
Prodcom 29104140 - Goods vehicles with compression-ignition internal combustion piston engine (diesel or semi-diesel), of a gross vehicle weight > .20 tonnes (excluding dumpers designed for offhighway use)
Prodcom 29104200 - Goods vehicles, with spark-ignition internal combustion piston engine, other goods vehicles, new

Country coverage:

Ecuador

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ecuador
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024