Ecuador: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Ecuador

The Ecuadorian electric soldering iron market surged to $X in 2023, rising by X% 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). In general, consumption enjoyed a significant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Electric Soldering Iron Exports

Exports from Ecuador

In 2023, electric soldering iron exports from Ecuador surged to X units, picking up by X% on 2022 figures. In general, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of X units. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, electric soldering iron exports dropped to $X in 2023. Over the period under review, exports posted a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Peru (X units) was the main destination for electric soldering iron exports from Ecuador, with a X% share of total exports. It was followed by Chile (X units), with a X% share of total exports. Switzerland (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Peru amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Switzerland (X% per year).

In value terms, Peru ($X) remains the key foreign market for electric soldering irons and guns exports from Ecuador, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with an X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Peru totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Chile (X% per year).

Export Prices by Country

The average electric soldering iron export price stood at $X per unit in 2023, declining by X% against the previous year. Over the period under review, the export price continues to indicate a mild descent. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Colombia ($X per unit), while the average price for exports to Peru ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Soldering Iron Imports

Imports into Ecuador

In 2023, electric soldering iron imports into Ecuador skyrocketed to X units, growing by X% against the year before. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, electric soldering iron imports shrank slightly to $X in 2023. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X units), China (X units) and Mexico (X units) were the main suppliers of electric soldering iron imports to Ecuador, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric soldering iron suppliers to Ecuador were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports.

Among the main suppliers, South Korea, with a CAGR of X%, saw 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

In 2023, the average electric soldering iron import price amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Taiwan (Chinese) ($X per unit) and China ($X per unit), while the price for Mexico ($X per unit) and Colombia ($X per unit) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform