Guatemala: Gear Box Market 2025

Gear Box Market Size in Guatemala

The Guatemalan gear box market fell modestly to $X in 2022, reducing by -3.5% 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). Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +32.0% against 2020 indices. Gear box consumption peaked at $X in 2021, and then reduced slightly in the following year.

Gear Box Exports

Exports from Guatemala

In 2022, gear box exports from Guatemala reduced dramatically to X units, which is down by -56.7% on the year before. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 121% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, gear box exports declined notably to $X in 2022. Overall, exports, however, continue to indicate a slight expansion. The growth pace was the most rapid in 2021 when exports increased by 312%. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

El Salvador (X units), Mexico (X units) and Nicaragua (X units) were the main destinations of gear box exports from Guatemala, with a combined 82% share of total exports. Germany and Honduras lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +7.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gear box exported from Guatemala were El Salvador ($X), Germany ($X) and Honduras ($X), together comprising 92% of total exports.

Among the main countries of destination, Germany, with a CAGR of +28.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average gear box export price stood at $X per unit in 2022, reducing by -21.1% against the previous year. In general, the export price, however, continues to indicate temperate growth. The most prominent rate of growth was recorded in 2021 an increase of 122%. As a result, the export price attained the peak level of $X per unit, and then declined markedly in the following year.

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 Germany ($X per unit), while the average price for exports to Mexico ($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 Germany (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Guatemala

Gear box imports into Guatemala contracted to X units in 2022, waning by -7.6% on the previous year. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 54%. Over the period under review, imports reached the peak figure at X units in 2021, and then contracted in the following year.

In value terms, gear box imports reached $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +34.9% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 40% 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.

Imports by Country

In 2022, the United States (X units) constituted the largest gear box supplier to Guatemala, accounting for a 58% share of total imports. Moreover, gear box imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X units), fourfold. China (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+34.6% per year) and China (+23.2% per year).

In value terms, the largest gear box suppliers to Guatemala were the United States ($X), China ($X) and Japan ($X), with a combined 73% share of total imports.

China, with a CAGR of +28.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, picking up by 9.2% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Canada ($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 (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform