Guatemala: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Guatemala

In 2022, the Guatemalan market for lead-acid accumulators (excluding starter batteries) increased by 9.3% to $X, rising for the fourth consecutive year after two years of decline. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 +63.1% against 2018 indices. Lead-acid accumulators (excluding starter batteries) consumption peaked in 2022 and is expected to retain growth in years to come.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Guatemala

In 2022, lead-acid accumulators (excluding starter batteries) exports from Guatemala reduced rapidly to X units, waning by -38.1% compared with the year before. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 665% against the previous year. As a result, the exports reached the peak of X units, and then dropped sharply in the following year.

In value terms, lead-acid accumulators (excluding starter batteries) exports shrank dramatically to $X in 2022. Overall, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by 609%. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

El Salvador (X units), Honduras (X units) and Costa Rica (X units) were the main destinations of lead-acid accumulators (excluding starter batteries) exports from Guatemala, together accounting for 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by El Salvador (with a CAGR of +80.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lead-acid accumulators (excluding starter batteries) exported from Guatemala were El Salvador ($X), Honduras ($X) and Costa Rica ($X), with a combined 92% share of total exports.

Among the main countries of destination, El Salvador, with a CAGR of +73.8%, saw the highest growth rate of 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 export price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, approximately mirroring the previous year. Over the period under review, the export price, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2017 an increase of 64% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Nicaragua ($X per unit) and Panama ($X per unit), while the average price for exports to Costa Rica ($X per unit) and El Salvador ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+0.6%), while the prices for the other major destinations experienced a decline.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Guatemala

In 2022, overseas purchases of lead-acid accumulators (excluding starter batteries) increased by 15% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 34%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, lead-acid accumulators (excluding starter batteries) imports stood at $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +57.8% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 31%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of lead-acid accumulators (excluding starter batteries) imports to Guatemala, with a combined 84% share of total imports. Mexico, Greece and Vietnam lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +75.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lead-acid accumulators (excluding starter batteries) suppliers to Guatemala were the United States ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 84% share of total imports. Mexico, Greece and Vietnam lagged somewhat behind, together accounting for a further 10%.

Vietnam, with a CAGR of +66.8%, saw the highest rates of growth with regard to 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

In 2022, the average import price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, shrinking by -7.6% against the previous year. In general, the import price saw a noticeable descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per unit) and Mexico ($X per unit), while the price for Greece ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform