The diesel truck market in Guatemala, specifically for trucks weighing less than 5 tonnes, has shown steady growth over the past decade, reaching a market size value of $979.57 million in 2023. The year-on-year growth in recent years has been modest, with a 2.82% increase in 2022 and a 2.72% increase in 2023. Over the last five years, the market has experienced an average compound annual growth rate (CAGR) of 3.58%, indicating a solid upward trend despite a slight dip in 2020.
Looking ahead, key factors likely to influence the market include potential shifts towards more environmentally friendly technologies, changes in government policies regarding emissions, and economic factors affecting business investment in transportation infrastructure. These trends could either challenge or promote further growth in the lightweight diesel truck segment.
How does Guatemala rank in Diesel Trucks (Weighing Less than 5 Tonnes) Market Size Value?
| # | 26 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 21,716,000,000 | 2023 | +3.25% | +2.71% | View data |
| 2 | 2 Spain | 9,793,900,000 | 2023 | +1.15% | +0.37% | View data |
| 3 | 3 Canada | 5,934,800,000 | 2023 | +2.78% | +1.75% | View data |
| 4 | 4 South Africa | 4,539,500,000 | 2023 | +1.5% | +1.55% | View data |
| 5 | 5 Sweden | 4,451,900,000 | 2023 | +2.49% | +2.66% | View data |
| 16 | 16 Finland | 1,408,900,000 | 2023 | +2.12% | +1.2% | View data |
| 17 | 17 Peru | 1,394,100,000 | 2023 | +0.65% | +0.21% | View data |
| 18 | 18 Guatemala | 979,570,000 | 2023 | +2.72% | +3.58% | |
| 19 | 19 Honduras | 465,770,000 | 2023 | +2.89% | +1.67% | View data |
| 20 | 20 El Salvador | 337,220,000 | 2023 | +1.69% | +2.1% | View data |
