Guatemala: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Guatemala

The Guatemalan trailer and semi-trailer market fell to $X in 2022, standing approx. at the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.6% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Trailer And Semi-Trailer Production in Guatemala

In value terms, trailer and semi-trailer production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.9% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 65%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Trailer And Semi-Trailer Exports

Exports from Guatemala

In 2022, exports of cargo trailers and semi-trailers from Guatemala shrank rapidly to X units, waning by -43.8% against the previous year's figure. In general, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2018 when exports increased by 224% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, trailer and semi-trailer exports shrank dramatically to $X in 2022. Overall, exports saw a noticeable descent. The pace of growth was the most pronounced in 2021 when exports increased by 314% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

El Salvador (X units) was the main destination for trailer and semi-trailer exports from Guatemala, accounting for a 55% share of total exports. Moreover, trailer and semi-trailer exports to El Salvador exceeded the volume sent to the second major destination, Mexico (X units), fourfold. Peru (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador totaled +55.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+30.5% per year) and Peru (+48.6% per year).

In value terms, the United States ($X), Honduras ($X) and El Salvador ($X) appeared to be the largest markets for trailer and semi-trailer exported from Guatemala worldwide, with a combined 78% share of total exports. Mexico, Peru, Nicaragua, Belize and Costa Rica lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, Peru, with a CAGR of +122.5%, 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 trailer and semi-trailer export price stood at $X per unit in 2022, jumping by 27% against the previous year. Overall, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 82% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to El Salvador ($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 the United States (+80.6%), while the prices for the other major destinations experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports into Guatemala

For the third year in a row, Guatemala recorded growth in overseas purchases of cargo trailers and semi-trailers, which increased by 14% to X units in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% 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 +70.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 103%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, trailer and semi-trailer imports contracted to $X in 2022. Overall, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +6.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 105% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of trailer and semi-trailer to Guatemala, accounting for a 69% share of total imports. Moreover, trailer and semi-trailer imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Mexico (X units), with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+35.6% per year) and Mexico (-3.7% per year).

In value terms, the largest trailer and semi-trailer suppliers to Guatemala were the United States ($X), Mexico ($X) and Brazil ($X), together accounting for 94% of total imports.

Among the main suppliers, Brazil, with a CAGR of +50.8%, recorded the highest growth rate of 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

The average trailer and semi-trailer import price stood at $X per unit in 2022, with a decrease of -22.1% against the previous year. Overall, the import price saw a perceptible reduction. The pace of growth was the most pronounced in 2015 an increase of 44% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 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 Brazil ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform