Guatemala: Non-Electric Pulley Tackle Market 2024

Non-Electric Pulley Tackle Market Size in Guatemala

In 2022, the Guatemalan non-electric pulley tackle market increased by 76% to $X, rising for the third year in a row after three years of decline. In general, consumption continues to indicate a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Electric Pulley Tackle Production in Guatemala

In value terms, non-electric pulley tackle production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a tangible expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 220% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Non-Electric Pulley Tackle Exports

Exports from Guatemala

In 2022, overseas shipments of pulley tackle and hoists, non-powered by electric motor decreased by -72.5% to X units, falling for the second year in a row after two years of growth. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 125% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-electric pulley tackle exports reduced remarkably to $X in 2022. In general, exports saw a abrupt downturn. The growth pace was the most rapid in 2016 with an increase of 124%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X units) was the main destination for non-electric pulley tackle exports from Guatemala, with a 64% share of total exports. Moreover, non-electric pulley tackle exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X units), twofold. The third position in this ranking was taken by Nicaragua (X units), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador totaled -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+26.5% per year) and Nicaragua (-4.0% per year).

In value terms, El Salvador ($X) emerged as the key foreign market for pulley tackle and hoists, non-powered by electric motor exports from Guatemala, comprising 67% of total exports. The second position in the ranking was held by Honduras ($X), with a 24% share of total exports. It was followed by Nicaragua, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador stood at -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+28.8% per year) and Nicaragua (-0.4% per year).

Export Prices by Country

The average non-electric pulley tackle export price stood at $X per unit in 2022, with a decrease of -4.4% against the previous year. Overall, the export price showed a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of 57%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Honduras ($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 Costa Rica (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Pulley Tackle Imports

Imports into Guatemala

In 2022, approx. X units of pulley tackle and hoists, non-powered by electric motor were imported into Guatemala; with an increase of 268% compared with the previous year. Overall, imports posted a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 372% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, non-electric pulley tackle imports declined to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 378%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of non-electric pulley tackle to Guatemala, accounting for a 96% share of total imports. It was followed by Spain (X units), with a 0.7% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +37.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-13.6% per year) and Mexico (-9.4% per year).

In value terms, China ($X) constituted the largest supplier of pulley tackle and hoists, non-powered by electric motor to Guatemala, comprising 66% of total imports. The second position in the ranking was taken by Spain ($X), with a 4.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-11.9% per year) and Mexico (-9.0% per year).

Import Prices by Country

The average non-electric pulley tackle import price stood at $X per unit in 2022, waning by -76.7% against the previous year. In general, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 19% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform