Guatemala: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in Guatemala

In 2022, the Guatemalan fire extinguisher market increased by 1.6% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Fire extinguisher consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Fire Extinguisher Exports

Exports from Guatemala

In 2022, approx. X units of fire extinguishers were exported from Guatemala; jumping by 85% compared with the previous year's figure. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2013 when exports increased by 491%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, fire extinguisher exports soared to $X in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 803% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Belize (X units), Honduras (X units) and El Salvador (X units) were the main destinations of fire extinguisher exports from Guatemala, together comprising 97% of total exports. Costa Rica lagged somewhat behind, accounting for a further 3.1%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +65.7%), while the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), Belize ($X) and El Salvador ($X) appeared to be the largest markets for fire extinguisher exported from Guatemala worldwide, together comprising 97% of total exports. Costa Rica lagged somewhat behind, accounting for a further 2.9%.

Costa Rica, with a CAGR of +59.2%, 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

In 2022, the average fire extinguisher export price amounted to $X per unit, with a decrease of -36.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 127%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Belize ($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 Spain (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.

Fire Extinguisher Imports

Imports into Guatemala

In 2022, the amount of fire extinguishers imported into Guatemala stood at X units, with an increase of 10% against 2021. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +48.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, fire extinguisher imports rose modestly to $X in 2022. The total import value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 52% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of fire extinguisher to Guatemala, with a 84% share of total imports. Moreover, fire extinguisher imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), fourfold. The United States (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+14.5% per year) and the United States (+0.8% per year).

In value terms, the United States ($X), China ($X) and Mexico ($X) constituted the largest fire extinguisher suppliers to Guatemala.

In terms of the main suppliers, China, with a CAGR of +19.4%, saw 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 fire extinguisher import price stood at $X per unit in 2022, which is down by -6.7% against the previous year. Overall, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 13% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform