Guatemala: Lift And Hoist Market 2025

Lift And Hoist Market Size in Guatemala

The Guatemalan lift and hoist market amounted to $X in 2022, approximately equating 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 showed a prominent increase. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Lift And Hoist Exports

Exports from Guatemala

In 2022, approx. X units of lifts and hoists were exported from Guatemala; rising by 47% on 2021 figures. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 500% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, lift and hoist exports surged to $X in 2022. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 592%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

El Salvador (X units) was the main destination for lift and hoist exports from Guatemala, with a 55% share of total exports. Moreover, lift and hoist exports to El Salvador exceeded the volume sent to the second major destination, Nicaragua (X units), threefold. The third position in this ranking was held by Honduras (X units), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+25.9% per year) and Honduras (+23.1% per year).

In value terms, El Salvador ($X) emerged as the key foreign market for lifts and hoists exports from Guatemala, comprising 55% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 19% share of total exports. It was followed by Honduras, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+19.1% per year) and Honduras (+44.7% per year).

Export Prices by Country

The average lift and hoist export price stood at $X per unit in 2022, growing by 16% against the previous year. In general, the export price, however, saw a noticeable descent. The pace of growth was the most pronounced in 2016 an increase of 35%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belize ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lift And Hoist Imports

Imports into Guatemala

Lift and hoist imports into Guatemala stood at X units in 2022, with an increase of 6% against the previous year's figure. In general, imports saw a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 44%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, lift and hoist imports expanded to $X in 2022. Overall, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 43%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), South Korea (X units) and the United States (X units) were the main suppliers of lift and hoist imports to Guatemala, with a combined 82% share of total imports. Japan, Thailand and Brazil lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +30.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lift and hoist suppliers to Guatemala were China ($X), South Korea ($X) and the United States ($X), together comprising 82% of total imports. Japan, Thailand and Brazil lagged somewhat behind, together comprising a further 15%.

In terms of the main suppliers, Japan, with a CAGR of +27.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lift and hoist import price stood at $X per unit in 2022, reducing by -3.8% against the previous year. Overall, the import price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 11%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform