Market Size of Mexico Home Appliances Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
