Mexico: Market for Wiring sets used in vehicles, aircraft or ships 2023

Market Size for Wiring sets used in vehicles, aircraft or ships in Mexico

In 2021, the Mexican market for wiring sets used in vehicles, aircraft or ships decreased by -29.3% to $X, falling for the second year in a row after six years of growth. Overall, consumption recorded a mild decrease. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Wiring sets used in vehicles, aircraft or ships in Mexico

In value terms, production of wiring sets used in vehicles, aircraft or ships totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 20%. As a result, production reached the peak level of $X. From 2016 to 2021, production of growth failed to regain momentum.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports from Mexico

In 2021, approx. X tons of wiring sets used in vehicles, aircraft or ships were exported from Mexico; rising by 77% on 2020 figures. In general, total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, exports of wiring sets used in vehicles, aircraft or ships soared to $X in 2021. The total export value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for exports of wiring sets used in vehicles, aircraft or ships from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +2.3%.

In value terms, the United States ($X) also remains the key foreign market for wiring sets used in vehicles, aircraft or ships exports from Mexico.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +4.9%.

Export Prices by Country

The average export price for wiring sets used in vehicles, aircraft or ships stood at $X per ton in 2021, which is down by -31% against the previous year. In general, the export price, however, continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2016 an increase of 51%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +2.5% per year.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports into Mexico

For the fourth year in a row, Mexico recorded growth in supplies from abroad of wiring sets used in vehicles, aircraft or ships, which increased by 75% to X tons in 2021. In general, imports recorded a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 6,904,612% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, imports of wiring sets used in vehicles, aircraft or ships surged to $X in 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 78% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest wiring sets used in vehicles, aircraft or ships supplier to Mexico, accounting for a 85% share of total imports. Moreover, imports of wiring sets used in vehicles, aircraft or ships from the United States exceeded the figures recorded by the second-largest supplier, Nicaragua (X tons), more than tenfold. The third position in this ranking was held by Honduras (X tons), with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (+16.3% per year) and Honduras (+12.0% per year).

In value terms, the United States ($X) constituted the largest supplier of wiring sets used in vehicles, aircraft or ships to Mexico, comprising 57% of total imports. The second position in the ranking was taken by Nicaragua ($X), with a 19% share of total imports. It was followed by Honduras, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (+18.1% per year) and Honduras (+15.2% per year).

Import Prices by Country

The average import price for wiring sets used in vehicles, aircraft or ships stood at $X per kg in 2021, falling by -19.8% against the previous year. Overall, the import price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 5,207,984% against the previous year. As a result, import price attained the peak level of $X per kg. From 2016 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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