Guatemala: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Guatemala

The Guatemalan electric soldering iron market contracted remarkably to $X in 2022, falling by X% against the previous year. Over the period under review, consumption, however, showed a buoyant expansion. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Electric Soldering Iron Production in Guatemala

In value terms, electric soldering iron production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, showed a significant expansion. Electric soldering iron production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Electric Soldering Iron Exports

Exports from Guatemala

In 2022, the amount of electric soldering irons and guns exported from Guatemala dropped significantly to X units, declining by X% compared with 2021. Overall, exports saw a deep slump. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric soldering iron exports dropped markedly to $X in 2022. In general, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Belize (X units), Honduras (X units) and El Salvador (X units) were the main destinations of electric soldering iron exports from Guatemala, with a combined X% share 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 Belize (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for electric soldering iron exported from Guatemala were El Salvador ($X), Belize ($X) and Honduras ($X), together accounting for X% of total exports.

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

Export Prices by Country

The average electric soldering iron export price stood at $X per unit in 2022, picking up by X% against the previous year. In general, the export price enjoyed significant growth. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

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

Electric Soldering Iron Imports

Imports into Guatemala

In 2022, after two years of growth, there was significant decline in overseas purchases of electric soldering irons and guns, when their volume decreased by X% to X units. In general, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X units, and then shrank remarkably in the following year.

In value terms, electric soldering iron imports rose rapidly to $X in 2022. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric soldering iron to Guatemala, accounting for a X% share of total imports. Moreover, electric soldering iron imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. Taiwan (Chinese) (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 totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of electric soldering irons and guns to Guatemala, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), 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: the United States (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The average electric soldering iron import price stood at $X per unit in 2022, rising by X% against the previous year. Overall, the import price continues to indicate a prominent increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Panama ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform