The Ecuadorian crane market surged to $X in 2020, up X% year over year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). Overall, consumption has grown significantly. The growth rate was most pronounced in 2016, when market cap increased by X% year-over-year. During the period under review, the market peaked at $X in 2013; however, from 2014 to 2020, consumption was at lower levels.
After four years of decline, overseas shipments of cranes, mobile crane frames fell -X% to X units in 2020. But overall, exports showed significant growth. The fastest growth rate in 2015, an increase of X% year-on-year. As a result, exports peaked at X units. Export growth failed to regain momentum between 2016 and 2020.
In terms of value, crane exports dropped significantly to $X in 2020. But overall, exports continue to show measurable growth. The most significant growth rate occurred in 2017, when exports increased by X% year-on-year. As a result, exports peaked at X dollars. From 2018 to 2020, export growth remained low.
Peru (X units) was the main destination for Ecuadorian crane exports, accounting for X% of total exports. In addition, the number of cranes exported to Peru exceeded eight times the number exported to Chile (X units), the second main destination.
From 2007 to 2020, the average annual growth rate of exports to Peru totaled +X%. Exports to other major destinations recorded the following average annual export growth rates: Chile (-X% per annum) and Costa Rica (-X% per annum).
In value terms, Peru ($X) remains the leading foreign market for Ecuadorian crane exports, accounting for X% of total exports. In second place is Chile ($X) with X% of total exports.
From 2007 to 2020, the value to Peru has grown at an average annual rate of +X%. Exports to other major destinations recorded the following average annual export growth rates: Chile (+X% per annum) and Costa Rica (-X% per annum)
Crane imports to Ecuador surged to X units in 2020, an increase of X% compared to 2019 figures. Overall, imports recorded significant growth. In 2016, the growth rate was the fastest, with an increase of X% year-on-year. As a result, imports peaked at X units. Import growth remained low between 2017 and 2020.
Crane imports in 2020 are $X by value. Overall, imports recorded significant growth. In 2010, the growth rate was the fastest, with an increase of X% year-on-year. During the period under review, imports peaked at $X in 2013; however, from 2014 to 2020, imports failed to regain momentum.
In 2020, China (X units) was the largest supplier of cranes to Ecuador, accounting for X% of total imports. In addition, the number of cranes imported from China is three times that of the second largest supplier, the United States (X units). Italy (X units) ranks third in total imports with a share of X%.
From 2007 to 2020, the average annual growth rate of Chinese exports was +X%. The average annual growth rates of imports for the remaining supplier countries are as follows: the United States (-X% per year) and Italy (+X% per year).
China (USD X) is the largest crane supplier to Ecuador by value, accounting for X% of total imports. In second place is the United States ($X) with X% of total imports. It is followed by Spain with an X% share.
From 2007 to 2020, the average annual growth rate of value from China is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: the United States (-X% per year) and Spain (+X% per year).
China is Ecuador's largest supplier of cranes by value, accounting for 71% of total imports. In second place is the United States, which accounts for 17% of total imports. It is followed by Spain with a share of 4.5%
In terms of value, Peru remains the main foreign market for Ecuadorian crane exports, accounting for 71% of total exports. In second place is Chile, with 25% of total exports.
In 2020, the average export price of cranes was USD 29,155 per unit, down -12% from the previous year.
The average price of crane imports in 2020 was $48,128 per unit, down -13.9% from the previous year.
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