Guatemala: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Guatemala

The Guatemalan inflator system airbag market stood at $X in 2022, rising by 3.9% 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). Over the period under review, consumption, however, enjoyed significant growth. Inflator system airbag consumption peaked in 2022 and is likely to see steady growth in years to come.

Inflator System Airbag Exports

Exports from Guatemala

Inflator system airbag exports from Guatemala soared to X tons in 2022, increasing by 8,022% compared with 2021 figures. In general, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, inflator system airbag exports surged to $X in 2022. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 2,515%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Mexico (X tons) was the main destination for inflator system airbag exports from Guatemala, accounting for a 94% share of total exports. Moreover, inflator system airbag exports to Mexico exceeded the volume sent to the second major destination, El Salvador (X kg), more than tenfold.

From 2013 to 2022, the average annual rate of growth in terms of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+27.5% per year) and the United States (-1.4% per year).

In value terms, Mexico ($X) emerged as the key foreign market for airbags with inflator system and parts thereof exports from Guatemala, comprising 73% of total exports. The second position in the ranking was held by El Salvador ($X), with a 21% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+34.4% per year) and the United States (-0.5% per year).

Export Prices by Country

In 2022, the average inflator system airbag export price amounted to $X per ton, dropping by -84.6% against the previous year. Overall, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by 324%. As a result, the export price attained the peak level of $X per ton, and then shrank 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 El Salvador ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (+5.4%).

Inflator System Airbag Imports

Imports into Guatemala

In 2022, approx. X tons of airbags with inflator system and parts thereof were imported into Guatemala; therefore, remained relatively stable against the year before. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 180%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, inflator system airbag imports soared to $X in 2022. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 190% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) constituted the largest inflator system airbag supplier to Guatemala, with a 58% share of total imports. Moreover, inflator system airbag imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to +52.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+60.9% per year) and the United States (+2.6% per year).

In value terms, Mexico ($X) constituted the largest supplier of airbags with inflator system and parts thereof to Guatemala, comprising 44% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Mexico amounted to +41.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+72.4% per year) and the United States (+7.6% per year).

Import Prices by Country

In 2022, the average inflator system airbag import price amounted to $X per ton, rising by 14% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 69% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform