Mexico Home Appliances Market Size
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2021 |
| Market Size (2023) | USD 15.47 Billion |
| Market Size (2028) | USD 18.62 Billion |
| CAGR (2023 - 2028) | 3.77 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Home Appliances Market Analysis
The Mexico Home Appliances Market size is estimated at USD 15.47 billion in 2023, and is expected to reach USD 18.62 billion by 2028, growing at a CAGR of 3.77% during the forecast period (2023-2028).
Mexico is one of the world's main exporting countries of household appliances. The other countries include China, Germany, and Italy. Manufacturers and distributors of major and small appliances saw an improvement in both volume and value terms in 2015 as compared to the previous year. This was mainly driven by the positive performance of the construction industry, a recovery in consumer confidence, and an increase in promotional activities in retail outlets. Sophisticated and attractive designs in the mid to premium segments faced a strong demand from consumers who are seeing an improvement in their standard of living and want highly efficient and well-designed appliances. A new segment in the market offering huge potential has been explored, and hence, there is scope for growth in the home appliances market in the country.
Mexico's proximity to the United States, Canada, and Latin America allow the reduction in logistical costs for products, due to their weight and volume, which are more costly to transport and store. Also, Mexico's access to the Atlantic and Pacific Oceans distinguishes it as a strategic location to do business and exchange goods with Europe and Asia.
Mexico Home Appliances Market Trends
This section covers the major market trends shaping the Mexico Home Appliances Market according to our research experts:
Housing Development Drives the Home Appliances Market in Mexico
A growing and fluctuating oil and gas industry stimulated New Mexico’s housing market in recent years, causing shifts in home sales and valuation, particularly in areas known for the extraction of oil and gas. In 2018, sales throughout the state took a dip, but the value of homes grew. The total sales in 2018 were reported at 32,006, topping the previous year’s sales of 22,221 by almost 10,000 units.
Nearly every New Mexico county showed an increase in total sales in 2018, as compared to 2017. The biggest increases occurred in counties with larger metropolitan areas and those prospering due to the oil and gas industry. The housing development investments increased from 2.8 in 2017 to 3.2 in 2018.
Major Appliances are Dominating the Market
Major appliances are dominating the market by taking more share in the home appliances market in Mexico. The recovery in the housing market will be an opportunity for appliance manufacturers. As new homeowners comprise a significant portion of appliance sales, the anticipated rise in housing starts may bring increased demand to the industry. Appliance manufacturers are likely to continue facing rising input costs, particularly plastic. With financial assistance from federal tax credits expiring, many operators may cope by moving their production to lower labor-cost countries, such as Mexico.
Mexico Home Appliances Industry Overview
The report covers the major international players operating in the Mexican home appliances market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
Mexico Home Appliances Market Leaders
Whirlpool Corporation
Mabe
Electrolux AB
LG Electronics
BSH Hausgerate GmbH
*Disclaimer: Major Players sorted in no particular order
Mexico Home Appliances Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET INSIGHTS AND DYNAMICS
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4.1 Market Overview
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4.2 Drivers
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4.3 Restraints
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4.4 Value Chain Analysis of the Mexico Home Appliances Market
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4.5 Porter's Five Forces Analysis
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4.6 Impact of COVID-19 on the Market
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4.7 Insights On Technological Innovations in the Market
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4.8 Insights On Government Regulation on the Market
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5. MARKET SEGMENTATION
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5.1 Major Appliances
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5.1.1 Refrigerators
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5.1.2 Freezers
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5.1.3 Dishwashing Machines
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5.1.4 Washing Machines
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5.1.5 Ovens
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5.1.6 Air Conditioners
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5.1.7 Other Major Appliances
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5.2 Small Appliances
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5.2.1 Coffee/Tea Makers
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5.2.2 Food Processors
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5.2.3 Grills and Toasters
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5.2.4 Vacuum Cleaners
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5.2.5 Other Small Appliances
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5.3 Distribution Channel
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5.3.1 Mass Merchandisers
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5.3.2 Exclusive Stores
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5.3.3 Online
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5.3.4 Other Distribution Channels
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6. COMPETITIVE LANDSCAPE
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6.1 Market Concentration Analysis
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6.2 Company Profiles
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6.2.1 Whirlpool Corporation
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6.2.2 Electrolux AB
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6.2.3 LG Electronics
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6.2.4 Samsung Electronics
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6.2.5 Panasonic Corporation
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6.2.6 Hisense
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6.2.7 Black and Decker
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6.2.8 Mabe
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6.2.9 Daewoo Electronics Mexico
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6.2.10 Midea
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6.2.11 BSH Hausgerate GmbH
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- *List Not Exhaustive
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7. FUTURE OF THE MARKET
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8. DISCLAIMER
Mexico Home Appliances Industry Segmentation
A complete background analysis of the Mexican home appliances market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and market overview, is covered in the report. The report also features the qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
| Major Appliances | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Ovens | |
| Air Conditioners | |
| Other Major Appliances |
| Small Appliances | |
| Coffee/Tea Makers | |
| Food Processors | |
| Grills and Toasters | |
| Vacuum Cleaners | |
| Other Small Appliances |
| Distribution Channel | |
| Mass Merchandisers | |
| Exclusive Stores | |
| Online | |
| Other Distribution Channels |
Mexico Home Appliances Market Research FAQs
How big is the Mexico Home Appliances Market?
The Mexico Home Appliances Market size is expected to reach USD 15.47 billion in 2023 and grow at a CAGR of 3.77% to reach USD 18.62 billion by 2028.
What is the current Mexico Home Appliances Market size?
In 2023, the Mexico Home Appliances Market size is expected to reach USD 15.47 billion.
Who are the key players in Mexico Home Appliances Market?
Whirlpool Corporation, Mabe, Electrolux AB, LG Electronics and BSH Hausgerate GmbH are the major companies operating in the Mexico Home Appliances Market.
Mexico Home Appliances Industry Report
Statistics for the 2023 Mexico Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Home Appliances analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
