Guatemala: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Guatemala

The Guatemalan self-propelled boring machinery market rose notably to $X in 2022, with an increase of 10% against the previous year. Overall, consumption, however, continues to indicate a deep downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Production in Guatemala

In value terms, self-propelled boring machinery production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 8.7% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Self-Propelled Boring Machinery Exports

Exports from Guatemala

Self-propelled boring machinery exports from Guatemala stood at X units in 2022, standing approx. at 2021 figures. Overall, exports saw pronounced growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,800% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, self-propelled boring machinery exports shrank to $X in 2022. In general, exports recorded pronounced growth. The growth pace was the most rapid in 2014 with an increase of 631% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

El Salvador (X units), Colombia (X units) and Mexico (X units) were the main destinations of self-propelled boring machinery exports from Guatemala, together comprising 75% 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 El Salvador (with a CAGR of +11.6%), while the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Colombia ($X) and Mexico ($X) constituted the largest markets for self-propelled boring machinery exported from Guatemala worldwide, together comprising 86% of total exports.

El Salvador, with a CAGR of +58.5%, recorded the highest growth rate of 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

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, reducing by -3.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 264%. As a result, the export price reached the peak level of $X per unit. From 2014 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 El Salvador ($X per unit), while the average price for exports to Panama ($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 El Salvador (+42.0%), while the prices for the other major destinations experienced mixed trend patterns.

Self-Propelled Boring Machinery Imports

Imports into Guatemala

In 2022, the amount of self-propelled boring or sinking machinery imported into Guatemala surged to X units, picking up by 43% on the previous year. Overall, imports, however, saw a deep slump. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a abrupt setback. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of self-propelled boring machinery to Guatemala, accounting for a 30% share of total imports. Moreover, self-propelled boring machinery imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. Honduras (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-6.7% per year) and Honduras (0.0% per year).

In value terms, the largest self-propelled boring machinery suppliers to Guatemala were China ($X), Germany ($X) and the United States ($X), with a combined 88% share of total imports.

Germany, with a CAGR of +132.1%, saw 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 mixed trend patterns.

Import Prices by Country

In 2022, the average self-propelled boring machinery import price amounted to $X per unit, surging by 18% against the previous year. Over the period under review, the import price, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 61% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a 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 Germany ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+132.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform