Guatemala: Ride-On Compaction Equipment Market 2024

Ride-On Compaction Equipment Market Size in Guatemala

The Guatemalan ride-on compaction equipment market soared to $X in 2022, growing by 68% 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 posted a temperate expansion. Ride-on compaction equipment consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Ride-On Compaction Equipment Exports

Exports from Guatemala

In 2022, ride-on compaction equipment exports from Guatemala surged to X units, growing by 125% on 2021 figures. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 260% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ride-on compaction equipment exports skyrocketed to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 267%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nicaragua (X units), El Salvador (X units) and the United States (X units) were the main destinations of ride-on compaction equipment exports from Guatemala, together comprising 89% 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 Nicaragua (with a CAGR of +13.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ride-on compaction equipment exported from Guatemala were El Salvador ($X), Nicaragua ($X) and the United States ($X), with a combined 99% share of total exports.

The United States, with a CAGR of +44.3%, saw 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 ride-on compaction equipment export price stood at $X per unit in 2022, falling by -31.9% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 100% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then reduced dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Honduras ($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 Honduras (+36.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ride-On Compaction Equipment Imports

Imports into Guatemala

In 2022, approx. X units of ride-on compaction equipment were imported into Guatemala; jumping by 70% on 2021. Over the period under review, imports recorded a moderate expansion. The growth pace was the most rapid in 2014 with an increase of 164%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, ride-on compaction equipment imports surged to $X in 2022. In general, imports recorded a moderate increase. The most prominent rate of growth was recorded in 2014 with an increase of 173% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ride-on compaction equipment to Guatemala, with a 65% share of total imports. Moreover, ride-on compaction equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. The third position in this ranking was taken by India (X units), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.3% per year) and India (+17.7% per year).

In value terms, China ($X) constituted the largest supplier of ride-on compaction equipment to Guatemala, comprising 66% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by India, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +41.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.5% per year) and India (+16.8% per year).

Import Prices by Country

In 2022, the average ride-on compaction equipment import price amounted to $X per unit, leveling off at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 9.6% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 India ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform