Peru: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Peru

In 2021, the Peruvian mechanical shovel and excavator market increased by 106% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a slight reduction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Peru

In 2021, shipments abroad of mechanical shovels, excavators and shovel loaders increased by 68% to X units, rising for the second year in a row after three years of decline. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 129% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2021. Over the period under review, exports posted a noticeable expansion. The pace of growth was the most pronounced in 2016 when exports increased by 197%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Colombia (X units), Spain (X units) and Ecuador (X units) were the main destinations of mechanical shovel and excavator exports from Peru, with a combined 73% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +87.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Spain ($X) and the United States ($X) were the largest markets for mechanical shovel and excavator exported from Peru worldwide, with a combined 61% share of total exports.

Among the main countries of destination, Colombia, with a CAGR of +48.0%, saw the highest rates of growth with regard to 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

The average mechanical shovel and excavator export price stood at $X per unit in 2021, falling by -16.6% against the previous year. In general, the export price saw a noticeable decline. The pace of growth appeared the most rapid in 2016 when the average export price increased by 30% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Central African Republic ($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 Zambia (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Peru

In 2021, after three years of decline, there was significant growth in supplies from abroad of mechanical shovels, excavators and shovel loaders, when their volume increased by 111% to X units. Over the period under review, imports, however, recorded a slight descent. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports soared to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and South Korea (X units) were the main suppliers of mechanical shovel and excavator imports to Peru, together comprising 46% of total imports. Brazil, Thailand, Japan, Belgium, Italy, the UK, the Netherlands, India and the Czech Republic lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +39.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Brazil ($X) appeared to be the largest mechanical shovel and excavator suppliers to Peru, together accounting for 55% of total imports. These countries were followed by South Korea, Japan, Thailand, Italy, Belgium, the Netherlands, India, the UK and the Czech Republic, which together accounted for a further 28%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +39.6%, recorded the highest rates of growth with regard to 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

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, shrinking by -4.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 49%. The import price peaked at $X per unit in 2020, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for the Czech Republic ($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 (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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