Guatemala: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Guatemala

In 2022, the Guatemalan truck and bus tyre market increased by X% to $X, rising for the fourth year in a row after two years of decline. In general, 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 2018 indices. Truck and bus tyre consumption peaked in 2022 and is likely to continue growth in the near future.

Exports of Tyres For Buses Or Lorries

Exports from Guatemala

Truck and bus tyre exports from Guatemala skyrocketed to X units in 2022, jumping by X% against the year before. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, truck and bus tyre exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Honduras (X units), El Salvador (X units) and Belize (X units) were the main destinations of truck and bus tyre exports from Guatemala, together accounting for X% of total exports.

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

In value terms, Honduras ($X), El Salvador ($X) and Belize ($X) constituted the largest markets for truck and bus tyre exported from Guatemala worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Belize, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Belize ($X per unit) and El Salvador ($X per unit), while the average price for exports to Nicaragua ($X per unit) and Costa Rica ($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 Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Guatemala

After three years of growth, supplies from abroad of tyres for buses or lorries decreased by X% to X units in 2022. In general, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then dropped modestly in the following year.

In value terms, truck and bus tyre imports stood at $X in 2022. Over the period under review, 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 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Guatemala, with a X% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. Costa Rica (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 China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Costa Rica (X% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Guatemala, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by Costa Rica, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Costa Rica (X% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, growing by X% against the previous year. In general, the import price, however, continues to indicate a mild setback. 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 hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were South Korea ($X per unit) and India ($X per unit), while the price for Thailand ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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