Mexico: Electrical Insulator Market 2024

Electrical Insulator Market Size in Mexico

The Mexican electrical insulator market shrank slightly to $X in 2022, dropping by -4% against the previous year. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -11.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Insulator Production in Mexico

In value terms, electrical insulator production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 -9.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 35% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Electrical Insulator Exports

Exports from Mexico

In 2022, shipments abroad of electrical insulators was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a pronounced descent. The growth pace was the most rapid in 2014 with an increase of 102%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical insulator exports soared to $X in 2022. In general, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 56% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for electrical insulator exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -4.1%.

In value terms, the United States ($X) also remains the key foreign market for electrical insulators exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +8.4%.

Export Prices by Country

The average electrical insulator export price stood at $X per unit in 2022, with an increase of 1.6% against the previous year. In general, the export price saw buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of 48% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain 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 the United States amounted to +13.0% per year.

Electrical Insulator Imports

Imports into Mexico

In 2022, supplies from abroad of electrical insulators decreased by -0.1% to X units, falling for the second consecutive year after six years of growth. Over the period under review, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by 39%. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, electrical insulator imports totaled $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 47%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Taiwan (Chinese) (X units) were the main suppliers of electrical insulator imports to Mexico, together accounting for 73% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +35.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) appeared to be the largest electrical insulator suppliers to Mexico, together comprising 83% of total imports. Taiwan (Chinese), South Korea, Germany and India lagged somewhat behind, together accounting for a further 12%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +9.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average electrical insulator import price amounted to $X per unit, increasing by 3.7% against the previous year. Over the period under review, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 41% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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