Ecuador: Boring Machinery Market 2024

Boring Machinery Market Size in Ecuador

The Ecuadorian boring machinery market shrank modestly to $X.2B in 2022, approximately equating the previous year. In general, consumption recorded a significant increase. Over the period under review, the market hit record highs at $X.6B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Boring Machinery Production in Ecuador

In value terms, boring machinery production contracted slightly to $X.3B in 2022 estimated in export price. Over the period under review, production saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X.8B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Boring Machinery Exports

Exports from Ecuador

In 2022, shipments abroad of boring or sinking machinery increased by X% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a sharp downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, boring machinery exports soared to $X in 2022. Overall, exports, however, showed a significant decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X units), Colombia (X units) and Australia (X units) were the main destinations of boring machinery exports from Ecuador, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Colombia ($X) and France ($X) constituted the largest markets for boring machinery exported from Ecuador worldwide, together comprising X% of total exports. Panama and Australia lagged somewhat behind, together comprising a further X%.

Australia, with a CAGR of X%, 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 boring machinery export price amounted to $X per unit, picking up by X% against the previous year. Overall, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

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 France ($X per unit), while the average price for exports to Australia ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into Ecuador

Boring machinery imports into Ecuador surged to X units in 2022, rising by X% against the previous year. Over the period under review, imports enjoyed buoyant growth. The growth pace was the most rapid in 2016 when imports increased by X%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, boring machinery imports surged to $X in 2022. Overall, imports, however, saw a perceptible slump. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the UK (X units) and the United States (X units) were the main suppliers of boring machinery imports to Ecuador, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of boring or sinking machinery to Ecuador, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and the UK (X% per year).

Import Prices by Country

In 2022, the average boring machinery import price amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price showed a abrupt contraction. The pace of growth was the most pronounced in 2015 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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