The Ecuadorian lifting equipment market shrinks to $X in 2021, down -X% compared to the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailers’ profits, which will be included in the final consumer price). Overall, consumption continues to show serious setbacks. During the period under review, the market hit an all-time high of $X in 2014; however, from 2015 to 2021, consumption was at a lower level

Ecuador’s lifting equipment export scale
In 2021, Ecuador exported a total of X units of lifting equipment, which remained unchanged compared to the 2020 figures. Exports continued to show resilient expansion during the period under review. 2017 saw the fastest growth with an X% increase. As a result, exports peaked at X units. From 2018 to 2021, the growth rate of exports will remain at a low level.

Lifting equipment exports soar to $X in 2021 by value. Overall, exports continued to expand significantly. The fastest growth rate in 2016, an increase of X% year-on-year. During the period under review, exports hit an all-time high of $X in 2017; however, from 2018 to 2021, exports failed to regain momentum.

Peru (X units), Colombia (X units) and Chile (X units) were the main destinations for Ecuadorian lifting equipment exports, together accounting for X% of total exports. In addition, Peru exports twice as much lifting equipment as Colombia, the second largest exporter.

From 2012 to 2021, among the major destination countries, the most significant growth rate in shipments is Chile (X% CAGR), while the growth rates of other leaders are more moderate.

Costa Rica ($X), Peru ($X) and Chile ($X) are Ecuador’s largest global export markets for lifting equipment by value, together accounting for X% of total exports. Peru, with a CAGR of +X%, experienced the highest growth in export value among the top destination countries during the review period, while shipments from other leading countries grew at a more moderate pace.

Import Scale of Lifting Equipment to Ecuador
In 2021, approximately X hoisting equipment was imported to Ecuador; -X% decrease compared to the previous year. Overall, imports fell sharply. The fastest growth was recorded in 2017, with imports increasing by X%. During the period under review, imports peaked at X units in 2014; however, from 2015 to 2021, imports decreased slightly.

In value terms, 2021 hoisting equipment imports totaled X USD. Imports continued to show sharp declines during the review period. 2017 saw the fastest growth with an X% increase. During the period under review, imports peaked at $X in 2015; however, from 2016 to 2021, import volumes have remained low.

Italy (X units), the United States (X units) and China (X units) are the main suppliers of imported lifting equipment to Ecuador, accounting for X% of total imports. Germany and Brazil are slightly behind, together accounting for a further increase from 2012 to 2021. Other leaders have experienced a more modest pace of growth.

Italy (USD X) is the largest supplier of lifting equipment 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 Brazil with an X% share.

From 2012 to 2021, the average annual value growth in Italy is +X%. The average annual growth rates of imports for the remaining supplier countries are as follows: the United States (-X% per year) and Brazil (+X% per year).

Statistics of various crane suppliers in Ecuador
Italy is Ecuador’s largest supplier of lifting equipment by value, accounting for 63% of total imports. In second place is the United States, which accounts for 22% of total imports. It is followed by Brazil with a share of 5.5%.

By value, Ecuador’s largest markets for lifting equipment exports are Costa Rica, Peru and Chile, which together account for 92% of total exports.

The average export price of lifting equipment in 2021 is US$4,918 per unit, an increase of 32% over the previous year.

The average import price of hoisting equipment in 2021 will be US$1,324 per unit, a year-on-year increase of 32%.

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Ecuador 2022 Lifting Equipment Market Analysis