Guatemala: Shaft Coupling Market 2024

Shaft Coupling Market Size in Guatemala

The Guatemalan shaft coupling market soared to $X in 2022, growing by 21% 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). The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Shaft Coupling Exports

Exports from Guatemala

In 2022, shaft coupling exports from Guatemala skyrocketed to X tons, jumping by 23% against 2021 figures. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 316% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, shaft coupling exports skyrocketed to $X in 2022. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 214%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Mexico (X tons), Honduras (X tons) and El Salvador (X kg) were the main destinations of shaft coupling exports from Guatemala, together comprising 93% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Honduras (with a CAGR of +50.2%), while the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X) remains the key foreign market for clutches and shaft couplings exports from Guatemala, comprising 62% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 15% share of total exports. It was followed by El Salvador, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras stood at +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+1.1% per year) and El Salvador (-4.4% per year).

Export Prices by Country

In 2022, the average shaft coupling export price amounted to $X per ton, declining by -4.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 171%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Mexico ($X per ton) 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 (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Guatemala

In 2022, imports of clutches and shaft couplings into Guatemala skyrocketed to X tons, jumping by 24% on the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 43% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, shaft coupling imports surged to $X in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of shaft coupling imports to Guatemala, together accounting for 62% of total imports. Mexico, Japan, South Korea, Italy, Taiwan (Chinese), India, Germany, Turkey, Nicaragua and South Africa lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +127.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Italy ($X) appeared to be the largest shaft coupling suppliers to Guatemala, with a combined 57% share of total imports. Germany, Mexico, Brazil, South Korea, Japan, India, Taiwan (Chinese), Turkey, Nicaragua and South Africa lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, Turkey, with a CAGR of +74.4%, 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

In 2022, the average shaft coupling import price amounted to $X per ton, which is down by -4.1% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shaft coupling import price increased by +31.5% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 76% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 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 Italy ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform