Guatemala: Motorcycle And Bicycle Market 2024

Motorcycle And Bicycle Market Size in Guatemala

For the third consecutive year, the Guatemalan motorcycle and bicycle market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption, however, continues to indicate resilient growth. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the near future.

Motorcycle And Bicycle Exports

Exports from Guatemala

In 2022, overseas shipments of motorcycles and bicycles increased by X% to X units, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, motorcycle and bicycle exports soared to $X in 2022. In general, exports, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X units) was the main destination for motorcycle and bicycle exports from Guatemala, accounting for a X% share of total exports. Moreover, motorcycle and bicycle exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X units), twofold. The United States (X units) ranked third in terms of total exports with a X% share.

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

In value terms, El Salvador ($X) emerged as the key foreign market for motorcycles and bicycles exports from Guatemala, comprising X% of total exports. The second position in the ranking was taken by Honduras ($X), with a X% share of total exports. It was followed by Costa Rica, with a X% share.

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

Export Prices by Country

The average motorcycle and bicycle export price stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the export price showed a strong increase. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 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 Honduras ($X per unit), while the average price for exports to the United States ($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.

Motorcycle And Bicycle Imports

Imports into Guatemala

In 2022, supplies from abroad of motorcycles and bicycles decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports showed a slight setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X units, and then fell significantly in the following year.

In value terms, motorcycle and bicycle imports rose to $X in 2022. Overall, imports, however, posted a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest motorcycle and bicycle supplier to Guatemala, accounting for a X% share of total imports. Moreover, motorcycle and bicycle imports from China exceeded the figures recorded by the second-largest supplier, India (X units), twofold. The third position in this ranking was held by the United States (X units), with a X% share.

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

In value terms, China ($X), India ($X) and the United States ($X) constituted the largest motorcycle and bicycle suppliers to Guatemala, together accounting for X% of total imports.

In terms of the main suppliers, India, with a CAGR of X%, recorded 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 motorcycle and bicycle import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for the United States ($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 mixed trend patterns.

Source: IndexBox Platform

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