Guatemala: Starter Motor Market 2024

Starter Motor Market Size in Guatemala

The Guatemalan starter motor market surged to $X in 2022, growing 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). In general, consumption enjoyed strong growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Starter Motor Exports

Exports from Guatemala

For the third year in a row, Guatemala recorded growth in shipments abroad of starter motors and dual purpose starter generators, which increased by X% to X units in 2022. In general, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, starter motor exports surged to $X in 2022. Over the period under review, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X units) was the main destination for starter motor exports from Guatemala, accounting for a X% share of total exports. Moreover, starter motor exports to Honduras exceeded the volume sent to the second major destination, Mexico (X units), twofold. The third position in this ranking was held by El Salvador (X units), with a X% share.

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

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

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

Export Prices by Country

In 2022, the average starter motor export price amounted to $X per unit, waning by X% against the previous year. In general, the export price continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Mexico ($X per unit), while the average price for exports to Nicaragua ($X per unit) and El Salvador ($X per unit) were amongst the lowest.

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

Starter Motor Imports

Imports into Guatemala

In 2022, imports of starter motors and dual purpose starter generators into Guatemala skyrocketed to X units, picking up by X% on the previous year's figure. Overall, total imports indicated a buoyant 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 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, starter motor imports expanded significantly to $X in 2022. In general, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

China (X units), Malaysia (X units) and India (X units) were the main suppliers of starter motor imports to Guatemala, with a combined X% share of total imports. The United States, Mexico, Japan, the UK, South Korea, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), Malaysia ($X) and India ($X) were the largest starter motor suppliers to Guatemala, with a combined X% share of total imports.

Among the main suppliers, Malaysia, 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 starter motor import price amounted to $X per unit, with a decrease of X% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price 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, starter motor import price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the UK ($X per unit) and South Korea ($X per unit), while the price for Taiwan (Chinese) ($X per unit) and Hong Kong SAR ($X per unit) were 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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