Mexico Washing Machine Market Size
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2021 |
| CAGR | 3.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Washing Machine Market Analysis
Mexico's Washing Machine Market generated a revenue of USD 1.67 billion in the current year and is expected to register a CAGR of 3.1% for the forecast period.
The market initially experienced growth in 2020 because of the COVID-19 pandemic outburst, which created fear among the people regarding the spread of infection and increased wash frequencies. However, the market eventually declined as manufacturing operations were halted, and disruptions in the supply chain and international trade limited production.
Washing machines are popular for washing clothes since they save energy and time. Various technological advancements in washing machines are made in the past decade, resulting in increased efficiency in saving electricity and water. A washing machine spins the laundry rapidly, creating a centrifugal force that removes the water and debris from the wash. It also allowed important industry players to capture a considerable portion of the washing machine market. Furthermore, the government launched many efforts to develop households, and with an increase in Mexico's per capita income, demand for washing machines is likely to rise.
Digitalization, urbanization, changing consumer buying patterns, and demand in emerging markets are all contributing to increased income. The launch of the next-generation washing machine incorporating technology for efficient use of electricity and water is expected to impact demand for these goods favorably. The increased number of dual-income households, coupled with insufficient time for laundry, led to the growing desire for this under-penetrated product.
Mexico Washing Machine Market Trends
Increase in Imports of Washing Machines in Mexico
Washing machines are essential appliances and are one of the major appliance categories that people around the globe use for washing and drying clothes. Varieties of washing machines are sold in Mexico's market with different capacities, functioning, drying, water system light, and detergent control, among other attributes. Prices in the market became a function of the brand, model, and place of purchase.
Recently, there is a rise in imports of washing machines in Mexico due to the rising necessity of keeping clothes clean and free of odor and bacteria. Imports in the year 2022 rose by 1.9% year-on-year. China, the United States, and Vietnam are the major importers of washing machines to Mexico, with China having 40.4%, the United States 19.6%, and Vietnam with a 12.5% market share.
Increasing Consumer Spending in Mexico Boosting the Market
In Mexico, consumer spending on household goods and services increases every year. Mexico's consumer spending for 2021 was USD 837.6 billion, a 21.83% increase from 2020. The washing machine per household revenue will be USD 46.14 in 2023. Volume is expected to amount to 3.88 million pieces by 2028. The Washing Machines segment is expected to show a volume growth of 1.2% in 2024. With urbanization and upgradation in living style, consumers are spending heavily on Smart washing machines and other smart home appliances.
Mexico Washing Machine Industry Overview
The washing machine market is competitive with the presence of international players. Energy labels and energy-efficiency policies enabled manufacturers to focus on developing energy-efficient products. Manufacturers are focusing on new product development, technological advancement, and increasing manufacturing capacity. Domestic players focused on rural areas as foreign multinationals dominated urban markets. Some key players in the washing machine market are Whirlpool, LG, Mabe, Easy, Samsung, Winia Daewoo, Electrolux, IFB, Lloyd, Haier, and Other prominent players.
Mexico Washing Machine Market Leaders
Whirlpool
Samsung
Mabe
LG
Winia Daewoo
*Disclaimer: Major Players sorted in no particular order
Mexico Washing Machine Market News
- September 01, 2022: Samsung Launched a New Line-up of Semi-Automatic Washing Machines. The new line-up is equipped with Hexa Storm Pulsator that prevents any damage to the fabric. The Magic Filter effectively gathers the lint, fluff, and particles, while the Magic Mixer minimizes the risk of any unsightly detergent residue on the clothes.
- August 26, 2022: Maytag launched a new laundry washer-dryer system specially designed to rid clothes, towels, blankets, and other household fabric items of pet hair in the wash and dry cycles. Maytag said its pet pro system would be the first washer-dryer unit to feature technology developed to remove pet hair.
Mexico Washing Machine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Consumer Behaviour Analysis
4.7 Insights on Technological Innovations in the Market
4.8 Government Regulation Shaping the Market
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Top Load
5.1.2 Front Load
5.2 By Technology
5.2.1 Fully-Automatic
5.2.2 Semi-Automatic
5.3 By End Users
5.3.1 Residential
5.3.2 Commercial
5.4 By Distribution Channel
5.4.1 Multibrand Stores
5.4.2 Exclusive Stores
5.4.3 Online Stores
5.4.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Whirlpool
6.2.2 Samsung
6.2.3 Mabe
6.2.4 Easy
6.2.5 LG
6.2.6 Winia Daewoo
6.2.7 GE
6.2.8 Electrolux
6.2.9 Bosch
6.2.10 Maytag*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Mexico Washing Machine Industry Segmentation
A washing machine is a home appliance used to wash laundry. The term mostly applies to machines using water instead of dry or ultrasonic cleaners. The user adds laundry detergent sold in liquid or powder form to the wash water.
The Mexico Washing Machine Market is segmented by type (front load and Top load), technology (fully- automated and semi-automated), end-user (commercial and residential), and distribution channel (multi-brand store, exclusive stores, online, and other distribution channels). The report offers market sizes and forecasts for the washing machine market in Mexico in revenue (USD billion) for all the above segments.
| By Type | |
| Top Load | |
| Front Load |
| By Technology | |
| Fully-Automatic | |
| Semi-Automatic |
| By End Users | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| Multibrand Stores | |
| Exclusive Stores | |
| Online Stores | |
| Other Distribution Channels |
Mexico Washing Machine Market Research FAQs
What is the current Mexico Washing Machine Market size?
The Mexico Washing Machine Market is projected to register a CAGR of 3.1% during the forecast period (2023-2028).
Who are the key players in Mexico Washing Machine Market?
Whirlpool, Samsung, Mabe, LG and Winia Daewoo are the major companies operating in the Mexico Washing Machine Market.
Mexico Washing Machine Industry Report
Statistics for the 2023 Mexico Washing Machine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Washing Machine analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
