Guatemala: Safety Seat Belt Market 2025

Safety Seat Belt Market Size in Guatemala

In 2022, the Guatemalan safety seat belt market increased by 16% to $X, rising for the fifth consecutive year after two years of decline. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 +58.9% against 2017 indices. Safety seat belt consumption peaked in 2022 and is expected to retain growth in years to come.

Safety Seat Belt Exports

Exports from Guatemala

For the third year in a row, Guatemala recorded growth in shipments abroad of safety seat belts, which increased by 263% to X units in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 3,526% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, safety seat belt exports surged to $X in 2022. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 93,400%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras (X units) was the main destination for safety seat belt exports from Guatemala, with a 71% share of total exports. Moreover, safety seat belt exports to Honduras exceeded the volume sent to the second major destination, Nicaragua (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Honduras amounted to +17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+5.9% per year) and El Salvador (+4.7% per year).

In value terms, Nicaragua ($X), Honduras ($X) and El Salvador ($X) appeared to be the largest markets for safety seat belt exported from Guatemala worldwide.

Nicaragua, with a CAGR of +39.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average safety seat belt export price stood at $X per unit in 2022, growing by 51% against the previous year. Overall, the export price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 an increase of 439% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per unit), while the average price for exports to El Salvador ($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 Panama (+71.2%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Seat Belt Imports

Imports into Guatemala

In 2022, safety seat belt imports into Guatemala skyrocketed to X units, increasing by 21% against the year before. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 84%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, safety seat belt imports rose sharply to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +45.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X units), the United States (X units) and Mexico (X units) were the main suppliers of safety seat belt imports to Guatemala, together comprising 83% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +33.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and China ($X) were the largest safety seat belt suppliers to Guatemala, together comprising 57% of total imports.

China, with a CAGR of +29.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average safety seat belt import price stood at $X per unit in 2022, dropping by -6% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, safety seat belt import price increased by +33.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 42% against the previous year. As a result, import price reached the peak level of $X per unit, and then dropped in the following year.

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 Brazil ($X per unit), while the price for China ($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 (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform