Key Market Indicators
Ecuador's gas turbine import market is projected to shrink significantly over the next five years. By 2028, imports are expected to drop to approximately $1.8 million, down from around $5.6 million in 2023. This represents an average annual decline of 18.1%. The trend is not new; since 1996, Ecuadorian demand for gas turbines has been decreasing at an average annual rate of 14.3%. On the export front, the situation is equally stark. In 2018, Ecuador's gas turbine exports were valued at nearly $224,000, a dramatic 82.1% drop from the $1.3 million recorded in 2017. This decline in exports has been part of a longer-term trend, with Ecuadorian supply decreasing by an average of 27.6% annually since 1997.
