The trucks market size value in Guatemala exhibited a strong growth trajectory from 2013 to 2023, with notable fluctuations. Starting from $951.57 million in 2013, it rose to $2078.5 million in 2023. The market experienced impressive double-digit year-on-year growth rates, particularly from 2014 to 2017, and steady growth thereafter. However, 2020 saw a decline of 7.12%, likely due to external economic shocks. The market rebounded in 2021 with a 16.9% increase and continued to grow at moderate rates in subsequent years. The compound annual growth rate (CAGR) over the last five years stands at 4.24%, indicating a resilient market with consistent demand.
Future trends to watch for:
- Potential technological advancements and infrastructure developments.
- Influence of economic conditions and policies on market dynamics.
- Impact of environmental regulations and shifts towards sustainable vehicles.
| # | 31 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 35,368,000,000 | 2023 | +1.82% | +0.71% | View data |
| 2 | 2 United Kingdom | 31,707,000,000 | 2023 | +1.38% | +1.29% | View data |
| 3 | 3 Brazil | 22,772,000,000 | 2023 | -1.5% | -2.03% | View data |
| 4 | 4 Japan | 19,967,000,000 | 2023 | -3.63% | -4.09% | View data |
| 5 | 5 Italy | 17,159,000,000 | 2023 | +0.39% | -0.99% | View data |
| 13 | 13 Portugal | 2,342,200,000 | 2023 | +1.36% | +0.12% | View data |
| 14 | 14 Hungary | 2,154,000,000 | 2023 | +3.47% | +3.85% | View data |
| 15 | 15 Guatemala | 2,078,500,000 | 2023 | +4.87% | +4.24% | |
| 16 | 16 Ecuador | 1,114,500,000 | 2023 | -6.65% | -6.12% | View data |
| 17 | 17 Paraguay | 965,900,000 | 2023 | +0.57% | -0.22% | View data |
