Guatemala: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Guatemala

The Guatemalan jacks and hoists market shrank to $X in 2022, falling by -10.1% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Jacks And Hoists Production in Guatemala

In value terms, jacks and hoists production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 35%. Jacks and hoists production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Jacks And Hoists Exports

Exports from Guatemala

In 2022, exports of jacks and hoists for raising vehicles from Guatemala plummeted to X units, with a decrease of -72.4% compared with the previous year. Over the period under review, exports continue to indicate a precipitous slump. The growth pace was the most rapid in 2015 when exports increased by 338%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, jacks and hoists exports dropped sharply to $X in 2022. In general, exports showed a sharp decrease. The pace of growth was the most pronounced in 2015 when exports increased by 253% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

El Salvador (X units) was the main destination for jacks and hoists exports from Guatemala, accounting for a 88% share of total exports. Moreover, jacks and hoists exports to El Salvador exceeded the volume sent to the second major destination, Nicaragua (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to El Salvador stood at +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-23.2% per year) and Honduras (-22.6% per year).

In value terms, El Salvador ($X) emerged as the key foreign market for jacks and hoists for raising vehicles exports from Guatemala, comprising 92% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador amounted to +24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-28.9% per year) and Honduras (-34.3% per year).

Export Prices by Country

The average jacks and hoists export price stood at $X per unit in 2022, leveling off at the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 21%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per unit), while the average price for exports to Honduras ($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 El Salvador (+6.5%), while the prices for the other major destinations experienced a decline.

Jacks And Hoists Imports

Imports into Guatemala

Jacks and hoists imports into Guatemala shrank rapidly to X units in 2022, waning by -53.2% on the previous year. Overall, imports saw a pronounced reduction. The growth pace was the most rapid in 2014 when imports increased by 100% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, jacks and hoists imports shrank dramatically to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +25.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 87%. Over the period under review, imports attained the maximum at $X in 2021, and then shrank sharply in the following year.

Imports by Country

China (X units), the United States (X units) and Mexico (X units) were the main suppliers of jacks and hoists imports to Guatemala, together accounting for 83% of total imports. Italy, Hungary, Honduras and South Korea lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +64.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of jacks and hoists for raising vehicles to Guatemala, comprising 75% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.3% share of total imports. It was followed by Mexico, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.9% per year) and Mexico (+5.6% per year).

Import Prices by Country

In 2022, the average jacks and hoists import price amounted to $X per unit, growing by 53% against the previous year. Over the period under review, the import price recorded a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform