Guatemala: Gear Box Market 2024

Gear Box Market Size in Guatemala

The Guatemalan gear box market fell modestly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a buoyant increase 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 2020 indices. Gear box consumption peaked at $X in 2021, and then dropped in the following year.

Gear Box Exports

Exports from Guatemala

In 2022, approx. X units of gear boxes were exported from Guatemala; dropping by X% against the year before. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, gear box exports shrank remarkably to $X in 2022. In general, exports, however, recorded a modest expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

El Salvador (X units), Mexico (X units) and Nicaragua (X units) were the main destinations of gear box exports from Guatemala, with a combined X% share of total exports. Germany and Honduras lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Germany ($X) and Honduras ($X) were the largest markets for gear box exported from Guatemala worldwide, together accounting for X% of total exports.

Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, shrinking by X% against the previous year. In general, the export price, however, saw a moderate expansion. The growth pace was the most rapid in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit, and then fell dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Mexico ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Guatemala

In 2022, the amount of gear boxes imported into Guatemala fell to X units, reducing by X% against the previous year's figure. Over the period under review, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked at X units in 2021, and then reduced in the following year.

In value terms, gear box imports stood at $X in 2022. In general, total imports indicated a remarkable increase 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 2020 indices. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units) constituted the largest gear box supplier to Guatemala, accounting for a X% share of total imports. Moreover, gear box imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X units), fourfold. China (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and China (X% per year).

In value terms, the largest gear box suppliers to Guatemala were the United States ($X), China ($X) and Japan ($X), together comprising X% of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average gear box import price amounted to $X per unit, picking up by X% against the previous year. In general, the import price, however, recorded a perceptible slump. The growth pace was the most rapid in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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