Guatemala: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Guatemala

For the third consecutive year, the Guatemalan market for diesel engines (other than for motor vehicles and aircraft) recorded growth in sales value, which increased by X% to $X in 2022. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Guatemala

In 2022, exports of diesel engines (other than for motor vehicles and aircraft) from Guatemala totaled X units, picking up by X% compared with 2021. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) fell significantly to $X in 2022. In general, exports posted a strong increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Costa Rica (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Guatemala, accounting for a X% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to Costa Rica exceeded the volume sent to the second major destination, El Salvador (X units), threefold. The third position in this ranking was held by Honduras (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Costa Rica stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Honduras (X% per year).

In value terms, El Salvador ($X), Honduras ($X) and the Dominican Republic ($X) constituted the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from Guatemala worldwide, with a combined X% share of total exports.

Honduras, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, waning by X% against the previous year. In general, the export price showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Guatemala

In 2022, overseas purchases of diesel engines (other than for motor vehicles and aircraft) increased by X% to X units, rising for the fifth consecutive year after three years of decline. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X units), Mexico (X units) and Italy (X units) were the main suppliers of imports of diesel engines (other than for motor vehicles and aircraft) to Guatemala, together comprising X% of total imports. India, China, France, Spain, South Korea and Japan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Mexico ($X) constituted the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Guatemala, with a combined X% share of total imports. The United States, France, Spain, South Korea, Italy and Japan lagged somewhat behind, together accounting for a further X%.

France, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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