Colombia: Full-Rotation Excavator Market 2024

Full-Rotation Excavator Market Size in Colombia

In 2023, the Colombian full-rotation excavator market decreased by X% to $X for the first time since 2018, thus ending a four-year rising trend. Overall, consumption recorded a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Full-Rotation Excavator Exports

Exports from Colombia

In 2023, approx. X units of self-propelled full-rotation excavators and bulldozers were exported from Colombia; reducing by X% compared with 2022 figures. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, full-rotation excavator exports soared to $X in 2023. Overall, exports showed a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Costa Rica (X units), Guatemala (X units) and Mexico (X units) were the main destinations of full-rotation excavator exports from Colombia, together comprising X% of total exports. Moreover, full-rotation excavator exports in Costa Rica exceeded the figures recorded by the second-largest exporter, Guatemala, twofold.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Mexico ($X) and Peru ($X) appeared to be the largest markets for full-rotation excavator exported from Colombia worldwide, with a combined X% share of total exports.

Costa Rica, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 2023, the average full-rotation excavator export price amounted to $X per unit, jumping by X% against the previous year. Overall, the export price recorded a noticeable increase. 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 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 Mexico ($X per unit), while the average price for exports to the Dominican Republic ($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 Costa Rica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Full-Rotation Excavator Imports

Imports into Colombia

In 2023, supplies from abroad of self-propelled full-rotation excavators and bulldozers decreased by X% to X units for the first time since 2019, thus ending a three-year rising trend. In general, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, full-rotation excavator imports fell markedly to $X in 2023. Over the period under review, imports showed a deep contraction. The growth pace was the most rapid in 2017 when imports increased by 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 full-rotation excavator to Colombia, with a X% share of total imports. Moreover, full-rotation excavator imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. South Korea (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X), South Korea ($X) and Japan ($X) were the largest full-rotation excavator suppliers to Colombia, together accounting for X% of total imports.

In terms of the main suppliers, China, 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 mixed trend patterns.

Import Prices by Country

The average full-rotation excavator import price stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the United States ($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 mixed trend patterns.

Source: IndexBox Platform