Guatemala: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Guatemala

After two years of growth, the Guatemalan market for turbo, rotary and reciporating displacement compressors decreased by -12.3% to $X in 2022. Overall, consumption, however, continues to indicate buoyant growth. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Guatemala

In 2022, the amount of turbo, rotary and reciporating displacement compressors exported from Guatemala declined slightly to X units, therefore, remained relatively stable against 2021 figures. Over the period under review, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 97% against the previous year. As a result, the exports reached the peak of X units, and then dropped slightly in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors fell to $X in 2022. Overall, total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 116%. Over the period under review, the exports of reached the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

Honduras (X units), El Salvador (X units) and Nicaragua (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Guatemala, with a combined 81% share of total exports. Panama, Costa Rica and the United States lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +53.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for turbo, rotary and reciporating displacement compressor exported from Guatemala were Honduras ($X), El Salvador ($X) and Nicaragua ($X), with a combined 81% share of total exports. Panama, Costa Rica and the United States lagged somewhat behind, together accounting for a further 17%.

The United States, with a CAGR of +44.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, leveling off at the previous year. Overall, the export price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2015 an increase of 20%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to the United States ($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 Honduras (-4.7%), while the prices for the other major destinations experienced a decline.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Guatemala

After two years of growth, overseas purchases of turbo, rotary and reciporating displacement compressors decreased by -20% to X units in 2022. In general, imports, however, recorded prominent growth. The growth pace was the most rapid in 2021 when imports increased by 77% against the previous year. As a result, imports reached the peak of X units, and then shrank rapidly in the following year.

In value terms, imports of turbo, rotary and reciporating displacement compressors reduced to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +39.0% against 2018 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 44% against the previous year. As a result, imports attained the peak of $X, and then declined slightly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of turbo, rotary and reciporating displacement compressor to Guatemala, with a 50% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+0.9% per year) and the United States (+12.6% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Guatemala were China ($X), Germany ($X) and the United States ($X), with a combined 75% share of total imports.

China, with a CAGR of +30.7%, recorded the highest growth rate of the value of imports, in terms of 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 import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, rising by 22% against the previous year. Overall, the import price, however, continues to indicate a perceptible contraction. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform