Mexico: Wood Drilling Machine Market 2022

Wood Drilling Machine Market Size in Mexico

The Mexican wood drilling machine market fell dramatically to $X in 2021, which is down by -63.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a deep slump. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Wood Drilling Machine Exports

Exports from Mexico

Wood drilling machine exports from Mexico soared to X units in 2021, jumping by 43% against 2020 figures. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 336% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, wood drilling machine exports skyrocketed to $X in 2021. Overall, exports, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2019 when exports increased by 468% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Guyana (X units) was the main destination for wood drilling machine exports from Mexico, accounting for a 61% share of total exports. Moreover, wood drilling machine exports to Guyana exceeded the volume sent to the second major destination, the Dominican Republic (X units), threefold. The third position in this ranking was taken by the United States (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Guyana stood at +421.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+49.4% per year) and the United States (+14.8% per year).

In value terms, the largest markets for wood drilling machine exported from Mexico were the United States ($X), Italy ($X) and the Dominican Republic ($X), with a combined 95% share of total exports. These countries were followed by Guyana, Guatemala, Slovenia, Peru and Costa Rica, which together accounted for a further 5.1%.

In terms of the main countries of destination, Guyana, with a CAGR of +119.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wood drilling machine export price amounted to $X per unit, picking up by 8.7% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2013 when the average export price increased by 114% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Guyana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+58.7%), while the prices for the other major destinations experienced a decline.

Wood Drilling Machine Imports

Imports into Mexico

In 2021, overseas purchases of drilling or morticing machines decreased by -51.2% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 75% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, wood drilling machine imports declined dramatically to $X in 2021. In general, imports faced a deep reduction. The pace of growth appeared the most rapid in 2019 when imports increased by 80% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of wood drilling machine imports to Mexico, together comprising 97% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +14.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest wood drilling machine suppliers to Mexico were the United States ($X), China ($X) and Italy ($X), with a combined 99% share of total imports.

China, with a CAGR of +10.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average wood drilling machine import price stood at $X per unit in 2021, falling by -4.1% against the previous year. Overall, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+12.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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