Guatemala: Accumulator Market 2024

Accumulator Market Size in Guatemala

The Guatemalan accumulator market was estimated at $X in 2022, remaining relatively unchanged 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, enjoyed a resilient expansion. Accumulator consumption peaked in 2022 and is expected to retain growth in the near future.

Accumulator Exports

Exports from Guatemala

In 2022, shipments abroad of electric accumulators decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at X units in 2021, and then contracted modestly in the following year.

In value terms, accumulator exports expanded to $X in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

El Salvador (X units), Honduras (X units) and Mexico (X units) were the main destinations of accumulator exports from Guatemala, together comprising X% of total exports. Haiti, the Dominican Republic, Costa Rica, Colombia and Nicaragua lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for accumulator exported from Guatemala were El Salvador ($X), Honduras ($X) and Mexico ($X), with a combined X% share of total exports. Haiti, the Dominican Republic, Costa Rica, Colombia and Nicaragua lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Haiti, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average accumulator export price amounted to $X per unit, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 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 Nicaragua ($X per unit), while the average price for exports to Colombia ($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 Nicaragua (X%), while the prices for the other major destinations experienced more modest paces of growth.

Accumulator Imports

Imports into Guatemala

After three years of growth, supplies from abroad of electric accumulators decreased by X% to X units in 2022. In general, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, accumulator imports rose markedly to $X in 2022. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Mexico (X units) constituted the largest accumulator supplier to Guatemala, accounting for a X% share of total imports. Moreover, accumulator imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by the United States (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

In value terms, Mexico ($X), China ($X) and the United States ($X) constituted the largest accumulator suppliers to Guatemala, with a combined X% share of total imports.

China, with a CAGR of X%, recorded 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 accumulator import price amounted to $X per unit, jumping by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for South Korea ($X per unit) and Colombia ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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