Mexico: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Mexico

The Mexican electric soldering iron market skyrocketed to $X in 2023, jumping by X% against the previous year. In general, consumption saw a significant expansion. Electric soldering iron consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Electric Soldering Iron Production in Mexico

In value terms, electric soldering iron production totaled $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

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Electric Soldering Iron Exports

Exports from Mexico

In 2023, approx. X units of electric soldering irons and guns were exported from Mexico; declining by X% against the previous year. In general, exports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, electric soldering iron exports fell dramatically to $X in 2023. Over the period under review, exports, however, continue to indicate measured growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for electric soldering iron exports from Mexico, accounting for a X% share of total exports. Moreover, electric soldering iron exports to the United States exceeded the volume sent to the second major destination, Colombia (X units), sixfold. The third position in this ranking was taken by Guatemala (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Guatemala (X% per year).

In value terms, the United States ($X) remains the key foreign market for electric soldering irons and guns exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Guatemala (X% per year).

Export Prices by Country

The average electric soldering iron export price stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 an increase of X%. The export price peaked at $X per unit in 2021; however, from 2022 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Soldering Iron Imports

Imports into Mexico

Electric soldering iron imports into Mexico expanded markedly to X units in 2023, growing by X% against the previous year's figure. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2021; afterwards, it flattened through to 2023.

In value terms, electric soldering iron imports rose modestly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2015; afterwards, it flattened through to 2023.

Imports by Country

In 2023, China (X units) constituted the largest supplier of electric soldering iron to Mexico, with a X% share of total imports. Moreover, electric soldering iron imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. Japan (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of electric soldering irons and guns to Mexico, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

Import Prices by Country

The average electric soldering iron import price stood at $X per unit in 2023, dropping by X% against the previous year. Overall, the import price saw a deep reduction. The pace of growth was the most pronounced in 2022 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform