Guatemala: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Guatemala

The Guatemalan air conditioning machine market skyrocketed to $X in 2022, picking up by 31% 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, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +36.1% against 2020 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Air Conditioning Machine Exports

Exports from Guatemala

In 2022, overseas shipments of non-window or wall air conditioning machines increased by 526% to X units, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, air conditioning machine exports skyrocketed to $X in 2022. Over the period under review, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

El Salvador (X units) was the main destination for air conditioning machine exports from Guatemala, with a 53% share of total exports. Moreover, air conditioning machine exports to El Salvador exceeded the volume sent to the second major destination, Nicaragua (X units), twofold. The Dominican Republic (X units) ranked third in terms of total exports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador stood at +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+16.4% per year) and the Dominican Republic (+74.0% per year).

In value terms, El Salvador ($X) emerged as the key foreign market for non-window or wall air conditioning machines exports from Guatemala, comprising 58% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a 23% share of total exports. It was followed by the Dominican Republic, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador amounted to +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+25.2% per year) and the Dominican Republic (+195.1% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, increasing by 60% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the average export price increased by 85% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Costa Rica ($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 (+69.5%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Guatemala

Air conditioning machine imports into Guatemala soared to X units in 2022, picking up by 34% against the year before. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.2% 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 +35.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 92% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, air conditioning machine imports soared to $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +56.2% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 61% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of air conditioning machine to Guatemala, with a 65% share of total imports. Moreover, air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. South Korea (X units) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +37.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.7% per year) and South Korea (+8.3% per year).

In value terms, China ($X) constituted the largest supplier of non-window or wall air conditioning machines to Guatemala, comprising 56% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by Italy, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +41.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.2% per year) and Italy (+4.6% per year).

Import Prices by Country

The average air conditioning machine import price stood at $X per unit in 2022, picking up by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2014 an increase of 33%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Thailand (+36.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform