The motorcycle parts market in Guatemala, excluding saddles, showed a consistent upward trend from 2013 to 2023, increasing from $42.061 million to $97.644 million USD. The market grew significantly from 2015 to 2017, followed by a fluctuating pattern, stabilizing post-2020. Between 2022 and 2023, the year-on-year growth rate was 6.08%, while the latest 5-year CAGR stood at 2.86%. This signifies steady progress despite economic fluctuations.
Looking ahead, potential growth drivers include increasing motorcycle adoption, especially in urban areas, and heightened interest in aftermarket parts for customization and maintenance. Furthermore, potential impacts of technological advancements and import policies are key factors to monitor.
How does Guatemala rank in Motorcycle Parts (Except Saddles) Market Size Value?
| # | 26 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 6,271,200,000 | 2023 | +0.87% | +0.89% | View data |
| 2 | 2 Germany | 2,381,600,000 | 2023 | +3.05% | +4.57% | View data |
| 3 | 3 France | 1,274,000,000 | 2023 | +0.088% | +0.44% | View data |
| 4 | 4 Mexico | 1,099,700,000 | 2023 | +5.25% | +4.91% | View data |
| 5 | 5 United Kingdom | 648,070,000 | 2023 | -2.3% | -2.54% | View data |
| 10 | 10 Switzerland | 188,690,000 | 2023 | +0.77% | +2.21% | View data |
| 11 | 11 Belgium | 142,350,000 | 2023 | -0.51% | -1.09% | View data |
| 12 | 12 Guatemala | 97,644,000 | 2023 | +6.08% | +2.86% | |
| 13 | 13 Sweden | 92,699,000 | 2023 | -1.4% | -0.067% | View data |
| 14 | 14 Ecuador | 77,169,000 | 2023 | +3.98% | +4.22% | View data |
