Guatemala: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Guatemala

The Guatemalan non-self-propelled fork-lift truck market expanded notably to $X in 2022, picking up by 13% 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). In general, consumption continues to indicate a resilient expansion. Non-self-propelled fork-lift truck consumption peaked in 2022 and is expected to retain growth in the immediate term.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Guatemala

In 2022, exports of non-self-propelled fork-lift trucks from Guatemala surged to X units, growing by 80% on the previous year's figure. Overall, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 300%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-self-propelled fork-lift truck exports soared to $X in 2022. Over the period under review, exports posted strong growth. The pace of growth was the most pronounced in 2013 when exports increased by 322% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X units), Honduras (X units) and El Salvador (X units) were the main destinations of non-self-propelled fork-lift truck exports from Guatemala, with a combined 72% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +38.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-self-propelled fork-lift truck exported from Guatemala were Honduras ($X), El Salvador ($X) and the Dominican Republic ($X), with a combined 75% share of total exports.

The Dominican Republic, with a CAGR of +115.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-self-propelled fork-lift truck export price stood at $X per unit in 2022, surging by 53% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-self-propelled fork-lift truck export price increased by +113.0% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Costa Rica ($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 Dominican Republic (+55.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Guatemala

In 2022, approx. X units of non-self-propelled fork-lift trucks were imported into Guatemala; increasing by 17% on 2021. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2021 when imports increased by 214%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, non-self-propelled fork-lift truck imports rose significantly to $X in 2022. Over the period under review, imports posted a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 92%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest non-self-propelled fork-lift truck supplier to Guatemala, accounting for a 84% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was taken by Mexico (X units), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+69.0% per year) and Mexico (+53.6% per year).

In value terms, China ($X) constituted the largest supplier of non-self-propelled fork-lift trucks to Guatemala, comprising 52% of total imports. The second position in the ranking was taken by Italy ($X), with a 23% share of total imports. It was followed by Germany, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+95.2% per year) and Germany (+8.4% per year).

Import Prices by Country

In 2022, the average non-self-propelled fork-lift truck import price amounted to $X per unit, reducing by -6.1% against the previous year. In general, the import price saw a pronounced descent. The growth pace was the most rapid in 2019 when the average import price increased by 31%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform