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Mexico - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Mexico - Power Tools - Market Analysis, Forecast, Size, Trends and Insights

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Nov 30, 2023

Mexico's Export of Power Tools Reaches $131M in August 2023

Mexico Power Tool Exports

In August 2023, shipments abroad of power tools increased by 35% to 2.8M units for the first time since April 2023, thus ending a three-month declining trend. Over the period under review, total exports indicated temperate growth from August 2022 to August 2023: its volume increased at an average monthly rate of +2.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, exports increased by +34.8% against July 2023 indices. The most prominent rate of growth was recorded in February 2023 when exports increased by 169% m-o-m. The exports peaked in August 2023.

In value terms, power tool exports surged to $131M (IndexBox estimates) in August 2023. In general, total exports indicated a slight expansion from August 2022 to August 2023: its value increased at an average monthly rate of +1.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, exports increased by +33.8% against July 2023 indices. The most prominent rate of growth was recorded in February 2023 when exports increased by 155% month-to-month. Over the period under review, the exports hit record highs in August 2023.Mexico Power Tool Exports By Country (Million USD)

COUNTRYExport Value of Power Tool in Mexico (million USD)
Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023
United States10811410110211732.182.812311499.611195.7128
Canada4.41.42.92.6N/AN/AN/A4.23.82.95.9N/AN/A
Others1.01.10.70.50.70.60.71.40.71.21.21.82.8
Total11311610410511832.783.412811810411897.6131

Exports by Country

The United States (2.8M units) was the main destination for power tool exports from Mexico, with a approximately 97% share of total exports.

From August 2022 to August 2023, the average monthly rate of growth in terms of volume to the United States stood at +2.5%.

In value terms, the United States ($128M) also remains the key foreign market for power tool exports from Mexico.

From August 2022 to August 2023, the average monthly rate of growth in terms of value to the United States totaled +1.4%.

Exports by Type

In-hand motor grinders, sanders and planers (1.9M units) was the largest type of power tool exported from Mexico, with a 68% share of total exports. Moreover, in-hand motor grinders, sanders and planers exceeded the volume of the second product type, saws for working in the hand, with self-contained electric motor (495K units), fourfold.

From August 2022 to August 2023, the average monthly growth rate of the volume of export of in-hand motor grinders, sanders and planers totaled +1.9%. With regard to the other exported products, the following average monthly rates of growth were recorded: saws for working in the hand, with self-contained electric motor (+5.0% per month) and drills of all kinds for working in the hand, with self-contained electric motor (+1.0% per month).

In value terms, in-hand motor grinders, sanders and planers ($88M) remains the largest type of power tool exported from Mexico, comprising 67% of total exports. The second position in the ranking was taken by saws for working in the hand, with self-contained electric motor ($30M), with a 23% share of total exports.

From August 2022 to August 2023, the average monthly rate of growth in terms of the export volume of in-hand motor grinders, sanders and planers stood at +1.1%. With regard to the other exported products, the following average monthly rates of growth were recorded: saws for working in the hand, with self-contained electric motor (+5.6% per month) and drills of all kinds for working in the hand, with self-contained electric motor (-3.8% per month).

Export Prices by Country

In August 2023, the power tool price stood at $45.8 per unit, therefore (FOB, Mexico), remained relatively stable against the previous month. Over the period under review, the export price saw a slight setback. The most prominent rate of growth was recorded in March 2023 an increase of 17% against the previous month. The export price peaked at $51.7 per unit in August 2022; however, from September 2022 to August 2023, 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 August 2022 to August 2023, the rate of growth in terms of prices for Canada amounted to +1.4% per month.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the power tool market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 28241113 - Electromechanical hand drills operated without an external source of power
  • Prodcom 28241115 - Electropneumatic drills of all kinds for working in the hand
  • Prodcom 28241117 - Electromechanical hand drills of all kinds (excluding those operated without an external source of power, e lectropneumatic)
  • Prodcom 28241123 - Electromechanical chainsaws
  • Prodcom 28241125 - Electromechanical circular saws
  • Prodcom 28241127 - Electromechanical handsaws (excluding chainsaws, circular saws)
  • Prodcom 28241133 -
  • Prodcom 28241135 -
  • Prodcom 28241150 - Grinders, sanders and planers, for working in the hand, with self-contained electric motor, operating with an external source of power
  • Prodcom 28241180 - Electromechanical hedge trimmers and lawn edge cutters
  • Prodcom 28241190 -

Country coverage:

  • Mexico

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Mexico
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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