Guatemala: Market for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V 2024

Market Size for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V in Guatemala

The Guatemalan electrical board and console market surged to $X in 2023, with an increase of X% 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). Over the period under review, consumption, however, saw a deep slump. Electrical board and console consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Exports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Exports from Guatemala

In 2023, shipments abroad of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v increased by X% to X units, rising for the second year in a row after two years of decline. In general, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, electrical board and console exports shrank modestly to $X in 2023. Overall, exports saw a prominent increase. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

Exports by Country

Belize (X units) was the main destination for electrical board and console exports from Guatemala, with a X% share of total exports. Moreover, electrical board and console exports to Belize exceeded the volume sent to the second major destination, El Salvador (X units), fourfold. The third position in this ranking was held by Honduras (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Belize totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Honduras (X% per year).

In value terms, Belize ($X), Honduras ($X) and El Salvador ($X) constituted the largest markets for electrical board and console exported from Guatemala worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Belize, with a CAGR of X%, recorded 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 electrical board and console export price stood at $X per unit in 2023, dropping by X% against the previous year. In general, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Panama (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Imports into Guatemala

In 2023, approx. X units of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v were imported into Guatemala; rising by X% on the previous year's figure. In general, imports, however, showed a abrupt descent. Imports peaked at X units in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, electrical board and console imports skyrocketed to $X in 2023. Overall, imports, however, faced a abrupt downturn. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Mexico (X units), Germany (X units) and China (X units) were the main suppliers of electrical board and console imports to Guatemala, together accounting for X% of total imports. Argentina, Spain, the United States, Denmark, Tokelau, Singapore and Canada lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Singapore (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Mexico ($X) and China ($X) appeared to be the largest electrical board and console suppliers to Guatemala, with a combined X% share of total imports. Argentina, the United States, Singapore, Canada, Spain, Tokelau and Denmark lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Singapore, with a CAGR of X%, recorded 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 2023, the average electrical board and console import price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the import price recorded a mild reduction. The growth pace was the most rapid in 2016 an increase of X%. The import price peaked at $X per unit in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform