Colombia: Market Analysis of Electric Pulley Blocks and Electric Hoists

 The Colombian market for pulley tackle and hoists powered by an electric motor was finally on the rise to reach $X in 2021, after five years of decline. In general, consumption, however, saw a mild descent. Consumption of peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

In 2021, foreign shipments of pulley blocks and cranes powered by electric motors fell -X% to X units, the second consecutive year of decline after four years of growth. Overall, exports contracted sharply. The most significant growth rate occurred in 2019, when exports increased by X%. As a result, exports peaked at X units. Export growth failed to regain momentum in 2020-21.

In value terms, exports of electric pulleys and cranes have fallen sharply to $X in 2021. Overall, there was a sudden drop in exports. In 2014, the growth rate was the fastest, with an increase of X%. During the period under review, exports peaked at $X in 2018; however, from 2019 to 2021, exports failed to regain momentum.

Mexico (X units) is the main export destination for Colombian electric motor driven sheave blocks and cranes, accounting for X% of total exports. In addition, the export of electric motor-driven pulleys and cranes to Mexico exceeded nine times that to the second major destination, Peru (X units).

From 2012 to 2021, the average annual growth rate of freight volumes to Mexico totals +X%.

The largest markets by value for Colombian exports of electric motor-driven sheave blocks and cranes are Mexico ($X) and Peru ($X in Mexico, the main destination country, CAGR +X%, recorded during the review period, The highest growth rate of export value.

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

In 2021, approximately X electric motor-driven sheave blocks and winches were imported into Colombia; an increase of X% compared to the previous year. Overall, from 2012 to 2021, total imports showed strong growth: over the past nine years, its imports have grown at an average annual rate of +X%. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. The fastest growth was recorded in 2013, with an increase of X%. During the period under review, the import volume in 2015 hit a record high of X units; however, from 2016 to 2021, imports failed to regain momentum.

Imports of electric motor-driven sheave blocks and cranes increased substantially to $X in value in 2021. However, during the period under review, import volumes continued to show a sharp contraction. The growth rate was most notable in 2014, when imports increased by X% over the previous year. As a result, imports peaked at X dollars. Import growth will remain low between 2015 and 2021.

In 2021, China (X units) will become Colombia’s largest supplier of electric pulleys and electric hoists, accounting for X% of total imports. In addition, imports of electric motor-driven sheave blocks and cranes from China were six times higher than the number recorded by the second largest supplier, the United States (X units). Japan ranks third (X units) with an X% share.

From 2012 to 2021, the average annual growth rate of sales from China is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: the United States (+X% per annum) and Japan (+X% per annum).

By value, China ($X), US ($X) and Germany ($X) appear to be the largest pulley blocks and cranes powered by electric motor suppliers for Colombia, accounting for X% of total imports. Among merchants, China recorded the highest import value growth rate during the period under review at a CAGR of +X%, while purchases from other leading countries declined.

Statistics of various crane suppliers in Colombia

In value terms, China, the United States and Germany appeared to be the largest pulley tackle and hoists powered by an electric motor suppliers to Colombia, with a combined 59% share of total imports

In value terms, the largest markets for pulley tackle and hoists powered by an electric motor exported from Colombia were Mexico and Peru.

In 2021, the average export price for pulley tackle and hoists powered by an electric motor amounted to $1,762 per unit, which is down by -6.8% against the previous year

The average import price for pulley tackle and hoists powered by an electric motor stood at $651 per unit in 2021, which is down by -31.6% against the previous year.

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Colombia: Market Analysis of Electric Pulley Blocks and Electric Hoists