Guatemala: Sealed Beam Market 2024

Sealed Beam Market Size in Guatemala

The Guatemalan sealed beam market shrank dramatically to $X in 2022, waning by -26.7% 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). Overall, consumption recorded a deep downturn. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Sealed Beam Exports

Exports from Guatemala

In 2022, shipments abroad of sealed beam lamp units decreased by -22.8% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 958%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, sealed beam exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,146% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Chile (X units) was the main destination for sealed beam exports from Guatemala, accounting for a 89% share of total exports. Moreover, sealed beam exports to Chile exceeded the volume sent to the second major destination, Belize (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Chile was relatively modest.

In value terms, Chile ($X) emerged as the key foreign market for sealed beam lamp units exports from Guatemala, comprising 2.3% of total exports. The second position in the ranking was held by Belize ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile was relatively modest.

Export Prices by Country

The average sealed beam export price stood at $X per unit in 2022, jumping by 20% against the previous year. Overall, the export price recorded a buoyant increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belize ($X per unit), while the average price for exports to Chile amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sealed Beam Imports

Imports into Guatemala

For the fifth year in a row, Guatemala recorded decline in overseas purchases of sealed beam lamp units, which decreased by -59.1% to X units in 2022. Over the period under review, imports recorded a deep downturn. The pace of growth was the most pronounced in 2013 with an increase of 40%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, sealed beam imports skyrocketed to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +76.1% against 2020 indices. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X units) constituted the largest sealed beam supplier to Guatemala, with a 64% share of total imports. Moreover, sealed beam imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico stood at -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-19.5% per year) and Taiwan (Chinese) (+2.9% per year).

In value terms, China ($X) constituted the largest supplier of sealed beam lamp units to Guatemala, comprising 46% of total imports. The second position in the ranking was held by Mexico ($X), with a 7.7% share of total imports. It was followed by the United States, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +26.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-5.7% per year) and the United States (-15.4% per year).

Import Prices by Country

In 2022, the average sealed beam import price amounted to $X per unit, increasing by 270% against the previous year. In general, the import price continues to indicate a buoyant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+158.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform