Guatemala: Vehicle Seat Market 2025

Vehicle Seat Market Size in Guatemala

The Guatemalan vehicle seat market shrank to $X in 2022, declining by -5.9% 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, however, recorded a mild contraction. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Vehicle Seat Exports

Exports from Guatemala

In 2022, overseas shipments of seats for motor vehicles increased by 80% to X units, rising for the second year in a row after three years of decline. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 200%. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, vehicle seat exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 1,113% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

El Salvador (X units) was the main destination for vehicle seat exports from Guatemala, accounting for a 67% share of total exports. Moreover, vehicle seat exports to El Salvador exceeded the volume sent to the second major destination, Bolivia (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (0.0% per year) and the United States (-29.9% per year).

In value terms, El Salvador ($X) remains the key foreign market for seats for motor vehicles exports from Guatemala, comprising 88% of total exports. The second position in the ranking was held by Honduras ($X), with a 7.3% share of total exports. It was followed by the United States, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-15.8% per year) and the United States (-28.4% per year).

Export Prices by Country

The average vehicle seat export price stood at $X per unit in 2022, declining by -11% against the previous year. In general, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 385% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to South Korea ($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 Mexico (+30.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Seat Imports

Imports into Guatemala

In 2022, purchases abroad of seats for motor vehicles increased by 15% to X units, rising for the fourth consecutive year after two years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 64% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vehicle seat imports reduced to $X in 2022. Over the period under review, imports, however, recorded a slight setback. The pace of growth was the most pronounced in 2019 when imports increased by 100%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Turkey (X units) were the main suppliers of vehicle seat imports to Guatemala, with a combined 70% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +60.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vehicle seat suppliers to Guatemala were China ($X), the United States ($X) and Turkey ($X), together accounting for 65% of total imports.

In terms of the main suppliers, China, with a CAGR of +58.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vehicle seat import price amounted to $X per unit, with a decrease of -21.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 28%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Mexico ($X per unit) and Turkey ($X per unit), while the price for Costa Rica ($X per unit) and Sweden ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform