Guatemala: Electric Water Heater Market 2025

Electric Water Heater Market Size in Guatemala

In 2022, the Guatemalan electric water heater market increased by 26% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a strong increase. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Electric Water Heater Exports

Exports from Guatemala

Electric water heater exports from Guatemala expanded notably to X units in 2022, picking up by 8.6% on 2021. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 290%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, electric water heater exports surged to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 310% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X units) was the main destination for electric water heater exports from Guatemala, accounting for a 60% share of total exports. Moreover, electric water heater exports to Honduras exceeded the volume sent to the second major destination, El Salvador (X units), threefold. The third position in this ranking was held by Costa Rica (X units), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to Honduras stood at +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+40.1% per year) and Costa Rica (+71.6% per year).

In value terms, Honduras ($X) remains the key foreign market for electric water heaters and immersion heaters exports from Guatemala, comprising 60% of total exports. The second position in the ranking was taken by El Salvador ($X), with an 18% share of total exports. It was followed by Costa Rica, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras totaled +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+41.2% per year) and Costa Rica (+86.3% per year).

Export Prices by Country

The average electric water heater export price stood at $X per unit in 2022, increasing by 14% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Nicaragua ($X per unit) and Costa Rica ($X per unit), while the average price for exports to El Salvador ($X per unit) and Honduras ($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 Costa Rica (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Guatemala

In 2022, purchases abroad of electric water heaters and immersion heaters increased by 14% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 42% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, electric water heater imports soared to $X in 2022. Over the period under review, imports posted prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 42%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X units) constituted the largest supplier of electric water heater to Guatemala, with a 45% share of total imports. Moreover, electric water heater imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The United States (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+28.4% per year) and the United States (+5.6% per year).

In value terms, Brazil ($X) constituted the largest supplier of electric water heaters and immersion heaters to Guatemala, comprising 45% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.5% per year) and the United States (+7.4% per year).

Import Prices by Country

In 2022, the average electric water heater import price amounted to $X per unit, increasing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2014 an increase of 12% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and China ($X per unit), while the price for Colombia ($X per unit) and Costa Rica ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform