Guatemala: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Guatemala

The Guatemalan refrigerator or freezer market shrank sharply to $X in 2022, falling by -51.2% against the previous year. Over the period under review, consumption showed a abrupt slump. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerator Or Freezer Production in Guatemala

In value terms, refrigerator or freezer production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 358%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Refrigerator Or Freezer Exports

Exports from Guatemala

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment exported from Guatemala soared to X units, rising by 481% on the previous year. Overall, exports, however, saw a abrupt decrease. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refrigerator or freezer exports soared to $X in 2022. In general, exports, however, continue to indicate a pronounced reduction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Honduras (X units), Nicaragua (X units) and El Salvador (X units) were the main destinations of refrigerator or freezer exports from Guatemala.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +38.5%), while shipments for the other leaders experienced a decline.

In value terms, El Salvador ($X), Honduras ($X) and Nicaragua ($X) constituted the largest markets for refrigerator or freezer exported from Guatemala worldwide.

El Salvador, with a CAGR of +50.7%, saw 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 mixed trend patterns.

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2022, surging by 53% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Honduras ($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 (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Guatemala

For the third year in a row, Guatemala recorded decline in purchases abroad of furniture designed to receive refrigerating or freezing equipment, which decreased by -47.6% to X units in 2022. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 105% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, refrigerator or freezer imports reduced notably to $X in 2022. Over the period under review, imports faced a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 104%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of refrigerator or freezer to Guatemala, accounting for a 67% share of total imports. Moreover, refrigerator or freezer imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+32.2% per year) and Mexico (+9.2% per year).

In value terms, the United States ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Guatemala, comprising 61% of total imports. The second position in the ranking was taken by China ($X), with a 30% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+49.2% per year) and Mexico (+6.8% per year).

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, shrinking by -23.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 72% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform