Guatemala: Spark Plug Market 2025

Spark Plug Market Size in Guatemala

In 2022, the Guatemalan spark plug market increased by 23% to $X, rising for the third consecutive year after two years of decline. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +61.4% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Spark Plug Exports

Exports from Guatemala

In 2022, exports of sparking plugs from Guatemala shrank sharply to X units, with a decrease of -38.8% against the previous year's figure. Over the period under review, exports, however, enjoyed notable growth. The pace of growth was the most pronounced in 2021 with an increase of 1,266%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, spark plug exports dropped remarkably to $X in 2022. In general, exports, however, recorded a noticeable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 1,150%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units), Honduras (X units) and Costa Rica (X units) were the main destinations of spark plug exports from Guatemala, with a combined 97% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +72.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spark plug exported from Guatemala were Mexico ($X), Honduras ($X) and Costa Rica ($X), with a combined 97% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +72.9%, saw the highest rates of growth with regard to 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

The average spark plug export price stood at $X per unit in 2022, declining by -6.4% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 72% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per unit) and Honduras ($X per unit), while the average price for exports to El Salvador ($X per unit) and Costa Rica ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Spark Plug Imports

Imports into Guatemala

In 2022, purchases abroad of sparking plugs increased by 19% to X units, rising for the third consecutive year after three years of decline. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.1% 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 +73.3% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 29%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, spark plug imports surged to $X in 2022. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 29%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Thailand (X units), Japan (X units) and Mexico (X units) were the main suppliers of spark plug imports to Guatemala, with a combined 71% share of total imports. The United States, China, India, Russia, Germany and Panama lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +95.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spark plug suppliers to Guatemala were Thailand ($X), Japan ($X) and Mexico ($X), with a combined 71% share of total imports. The United States, China, India, Russia, Germany and Panama lagged somewhat behind, together comprising a further 25%.

Russia, with a CAGR of +100.6%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average spark plug import price amounted to $X per unit, increasing by 2.9% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Panama ($X per unit) and Russia ($X per unit), while the price for Thailand ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform