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

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

After two years of growth, the Colombian mechanical shovel and excavator market decreased by X% to $X in 2023. Over the period under review, consumption continues to indicate a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Colombia

In 2023, the amount of mechanical shovels, excavators and shovel loaders exported from Colombia fell significantly to X units, shrinking by X% compared with 2022. In general, exports showed a abrupt curtailment. The growth pace was the most rapid in 2022 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, mechanical shovel and excavator exports shrank markedly to $X in 2023. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Chile (X units) was the main destination for mechanical shovel and excavator exports from Colombia, with a X% share of total exports. It was followed by Guatemala (X units), with an X% share of total exports. Mexico (X units) ranked third in terms of total exports with an X% share.

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

In value terms, Chile ($X) emerged as the key foreign market for mechanical shovels, excavators and shovel loaders exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total exports. It was followed by Panama, with an X% share.

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

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2023, with an increase of X% against the previous year. In general, export price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, mechanical shovel and excavator export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2022 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Chile ($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 Venezuela (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Colombia

In 2023, purchases abroad of mechanical shovels, excavators and shovel loaders decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, imports showed a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports contracted notably to $X in 2023. Over the period under review, imports recorded a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, China (X units) constituted the largest supplier of mechanical shovel and excavator to Colombia, with a X% share of total imports. Moreover, mechanical shovel and excavator imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold. South Korea (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of mechanical shovels, excavators and shovel loaders to Colombia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Brazil (X% per year).

Import Prices by Country

The average mechanical shovel and excavator import price stood at $X per unit in 2023, remaining stable against the previous year. Overall, the import price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform