Guatemala: Roller Bearing Market 2024

Roller Bearing Market Size in Guatemala

The Guatemalan roller bearing market reached $X in 2022, remaining constant against the previous year. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.3% against 2019 indices. Guatemala consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Roller Bearing Production in Guatemala

In value terms, roller bearing production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 51% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Guatemala

In 2022, overseas shipments of roller bearings increased by 25% to X tons, rising for the second consecutive year after two years of decline. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2013 when exports increased by 438%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, roller bearing exports soared to $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 384%. The Guatemala exports peaked at $X in 2015; afterwards, it flattened through to 2022.

Exports by Country

In 2022, China (X tons) was the main exporter of roller bearings, mixing up 43% of total exports. It was distantly followed by Singapore (X tons), Germany (X tons), France (X tons), Slovakia (X tons) and the United States (X tons), together making up a 30% share of total exports. Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. China (+37 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, France, Romania, Hong Kong SAR, South Korea, the United States and Austria saw its share reduced by -1.5%, -2.6%, -2.7%, -4.9%, -6%, -6.3%, -6.4% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Guatemala were China ($X), Singapore ($X) and Germany ($X), with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

Among the main exporting countries, Indonesia, with a CAGR of +16.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Guatemala amounted to $X per ton, remaining constant against the previous year. Overall, the export price, however, saw a pronounced expansion. The pace of growth appeared the most rapid in 2016 when the export price increased by 63% against the previous year. The Guatemala export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Guatemala

In 2022, purchases abroad of roller bearings increased by 22% to X tons, rising for the second year in a row after six years of decline. Overall, imports, however, recorded a noticeable contraction. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, roller bearing imports skyrocketed to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 29%. 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, Thailand (X tons) and Indonesia (X tons) were the major importers of roller bearingsacross the globe, together constituting 32% of total imports. It was distantly followed by Germany (X tons), committing a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Germany ($X) and India ($X) constituted the countries with the highest levels of imports in 2022, with a combined 24% share of total imports.

Indonesia, with a CAGR of +4.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Guatemala amounted to $X per ton, increasing by 6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2020 an increase of 15%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform