The Spark Ignition Engine Automotive market in Guatemala, with engine sizes between 1500 and 3000cc, experienced dynamic shifts from 2013 to 2023. The market value per capita rose significantly from 2013 to a peak in 2016, followed by fluctuations and a decline until 2020. Thereafter, the market rebounded with year-on-year increases, reaching $93.91 per capita in 2023. The year-on-year variations between 2022 and 2023 showed a positive growth trend, albeit modest. The Compound Annual Growth Rate (CAGR) over the last five years indicates an average annual increase, underscoring recovery post-2020.
Future trends to watch for:
- Increased adoption of eco-friendly vehicles could impact spark ignition engine preferences.
- Economic growth and urbanization might drive higher demand for personal vehicles.
- Technological advancements and policy changes could reshape market dynamics
- Rising fuel prices might influence consumer choices.
| # | 18 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Switzerland | 943.43 | 2023 | View data | ||
| 2 | 2 United Kingdom | 712.63 | 2023 | View data | ||
| 3 | 3 Sweden | 556.09 | 2023 | View data | ||
| 4 | 4 Estonia | 501.19 | 2023 | View data | ||
| 5 | 5 Finland | 458.08 | 2023 | View data | ||
| 11 | 11 Colombia | 134.16 | 2023 | View data | ||
| 12 | 12 Malaysia | 115.86 | 2023 | View data | ||
| 13 | 13 Guatemala | 93.91 | 2023 | |||
| 14 | 14 Guyana | 70.8 | 2023 | View data | ||
| 15 | 15 Ecuador | 61.9 | 2023 | View data | ||
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