The Brake System Parts market in Guatemala (excluding motor vehicle linings) has experienced a steady increase in value per capita from 2013 to 2023, rising from $3.59 to $6.27. The market saw a temporary decline in 2020 due to global disruptions, but recovered swiftly by 2021. Over the past five years, from 2019 to 2023, the market grew at a compound annual growth rate (CAGR) of approximately 2.34%. Most notably, the market showed strong year-on-year growth of 7.7% and 2.6% in 2022 and 2023, respectively.
Future trends to watch for include:
- Technological advancements in brake system components, which could stimulate market growth.
- Impact of increased vehicle usage in Guatemala, boosting the demand for replacement parts.
- Global supply chain adjustments post-pandemic that might influence market dynamics.
| # | 41 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 100.22 | 2023 | View data | ||
| 2 | 2 Italy | 97.4 | 2023 | View data | ||
| 3 | 3 United Kingdom | 86.39 | 2023 | View data | ||
| 4 | 4 France | 85.05 | 2023 | View data | ||
| 5 | 5 Austria | 71.01 | 2023 | View data | ||
| 33 | 33 Peru | 6.76 | 2023 | View data | ||
| 34 | 34 Colombia | 6.49 | 2023 | View data | ||
| 35 | 35 Guatemala | 6.27 | 2023 | |||
| 36 | 36 El Salvador | 6.24 | 2023 | View data | ||
| 37 | 37 Tunisia | 4.98 | 2023 | View data | ||
