Guatemala: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Guatemala

The Guatemalan grinding and sharpening machine market skyrocketed to $X in 2022, with an increase of 58% 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). Over the period under review, consumption enjoyed buoyant growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Guatemala

Grinding and sharpening machine exports from Guatemala stood at X units in 2022, remaining constant against the previous year. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 700% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine exports soared to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 1,070% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Honduras (X units), El Salvador (X units) and the United States (X units) were the main destinations of grinding and sharpening machine exports from Guatemala, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Honduras ($X) and El Salvador ($X) were the largest markets for grinding and sharpening machine exported from Guatemala worldwide, together accounting for 94% of total exports.

Among the main countries of destination, the United States, with a CAGR of +52.5%, saw the highest rates of growth with regard to the value of exports, 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 grinding and sharpening machine export price amounted to $X per unit, jumping by 336% against the previous year. Over the period under review, the export price saw a strong increase. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Belize ($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 the United States (+52.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Guatemala

In 2022, grinding and sharpening machine imports into Guatemala skyrocketed to X units, surging by 104% against the previous year. In general, imports recorded strong growth. The most prominent rate of growth was recorded in 2015 when imports increased by 176%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, grinding and sharpening machine imports declined markedly to $X in 2022. Overall, imports posted buoyant growth. The growth pace was the most rapid in 2021 when imports increased by 104% against the previous year. As a result, imports attained the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest grinding and sharpening machine supplier to Guatemala, accounting for a 68% share of total imports. Moreover, grinding and sharpening machine imports from Germany exceeded the figures recorded by the second-largest supplier, Brazil (X units), more than tenfold. India (X units) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +47.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+21.2% per year) and India (+16.4% per year).

In value terms, China ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Guatemala, comprising 34% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by the United States, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.1% per year) and the United States (-3.5% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, waning by -63.8% against the previous year. In general, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 196% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 China ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+115.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform