Mexico: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Mexico

The Mexican agricultural forestry machinery market rose to $X in 2022, surging by 4.4% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.2% against 2020 indices. Agricultural forestry machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Mexico

In value terms, agricultural forestry machinery production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.7% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 34%. Agricultural forestry machinery production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Agricultural Forestry Machinery Exports

Exports from Mexico

Agricultural forestry machinery exports from Mexico expanded significantly to X units in 2022, rising by 7.3% against the previous year's figure. Over the period under review, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 47%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, agricultural forestry machinery exports rose remarkably to $X in 2022. In general, exports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 53%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for agricultural forestry machinery exports from Mexico, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -15.8%.

In value terms, the United States ($X) also remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -14.0%.

Export Prices by Country

The average agricultural forestry machinery export price stood at $X per unit in 2022, rising by 2.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 an increase of 10%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +8.3% per year.

Agricultural Forestry Machinery Imports

Imports into Mexico

In 2022, after two years of decline, there was significant growth in supplies from abroad of agricultural forestry machinery (lawn or sportsground rollers), when their volume increased by 45% to X units. In general, imports, however, showed a pronounced descent. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, agricultural forestry machinery imports surged to $X in 2022. Over the period under review, imports, however, showed a mild descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest agricultural forestry machinery supplier to Mexico, with a 59% share of total imports. Moreover, agricultural forestry machinery imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. Canada (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.8% per year) and Canada (+13.8% per year).

In value terms, the United States ($X) constituted the largest supplier of agricultural forestry machinery (lawn or sportsground rollers) to Mexico, comprising 59% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by Canada, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.6% per year) and Canada (+14.1% per year).

Import Prices by Country

The average agricultural forestry machinery import price stood at $X per unit in 2022, picking up by 1.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 6.7% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per unit) and the United States ($X per unit), while the price for China ($X per unit) and Spain ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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