Mexico: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2024

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in Mexico

In 2022, the Mexican geometrical quantities electronic measurer market increased by 249% to $X, rising for the second consecutive year after two years of decline. Overall, consumption enjoyed a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Electronic Instruments And Machines For Measuring Geometrical Quantities in Mexico

In value terms, geometrical quantities electronic measurer production amounted to less than $X in 2022 estimated in export price. Over the period under review, production showed a sharp reduction. The pace of growth was the most pronounced in 2014 when the production volume decreased by -90.5%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports from Mexico

In 2022, approx. X units of electronic instruments and machines for measuring geometrical quantities were exported from Mexico; growing by 55% against the previous year's figure. Over the period under review, exports posted buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of 94% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, geometrical quantities electronic measurer exports expanded sharply to $X in 2022. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 81%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for geometrical quantities electronic measurer exports from Mexico, accounting for a 88% share of total exports. Moreover, geometrical quantities electronic measurer exports to the United States exceeded the volume sent to the second major destination, Canada (X units), more than tenfold. Germany (X units) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+15.7% per year) and Germany (+10.1% per year).

In value terms, the United States ($X) remains the key foreign market for electronic instruments and machines for measuring geometrical quantities exports from Mexico, comprising 88% of total exports. The second position in the ranking was held by Canada ($X), with a 3.8% share of total exports. It was followed by Germany, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+13.2% per year) and Germany (+7.7% per year).

Export Prices by Country

In 2022, the average geometrical quantities electronic measurer export price amounted to $X per unit, which is down by -30% against the previous year. Overall, the export price saw a pronounced decline. The most prominent rate of growth was recorded in 2015 an increase of 5.9%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then reduced markedly in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per unit) and Japan ($X per unit), while the average price for exports to Canada ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-2.1%), while the prices for the other major destinations experienced a decline.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports into Mexico

In 2022, purchases abroad of electronic instruments and machines for measuring geometrical quantities increased by 5.1% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 32%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, geometrical quantities electronic measurer imports surged to $X in 2022. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of geometrical quantities electronic measurer to Mexico, with a 42% share of total imports. Moreover, geometrical quantities electronic measurer imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.0% per year) and Germany (+5.5% per year).

In value terms, the United States ($X) constituted the largest supplier of electronic instruments and machines for measuring geometrical quantities to Mexico, comprising 42% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.6% per year) and Germany (+3.4% per year).

Import Prices by Country

In 2022, the average geometrical quantities electronic measurer import price amounted to $X per unit, growing by 12% against the previous year. Overall, the import price, however, saw a noticeable shrinkage. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Hungary ($X per unit) and Malaysia ($X per unit), while the price for Italy ($X per unit) and Canada ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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