Mexico: Gear Box Market 2025

Gear Box Market Size in Mexico

The Mexican gear box market dropped to $X in 2022, reducing by -6.9% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.1% against 2020 indices. Over the period under review, the market hit record highs at $X in 2021, and then shrank in the following year.

Gear Box Production in Mexico

In value terms, gear box production stood at $X in 2022 estimated in export price. In general, production showed resilient growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 111%. Gear box production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Gear Box Exports

Exports from Mexico

In 2022, shipments abroad of gear boxes increased by 33% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports showed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gear box exports soared to $X in 2022. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 33% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for gear box exports from Mexico, with a 76% share of total exports. Moreover, gear box exports to the United States exceeded the volume sent to the second major destination, South Korea (X units), more than tenfold. Canada (X units) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+44.3% per year) and Canada (+18.8% per year).

In value terms, the United States ($X) remains the key foreign market for gear boxes exports from Mexico, comprising 76% of total exports. The second position in the ranking was held by South Korea ($X), with a 7.2% share of total exports. It was followed by Canada, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+46.8% per year) and Canada (+20.9% per year).

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, with a decrease of -9.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2021 an increase of 12% against the previous year. As a result, the export price reached the peak level of $X per unit, and then fell in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per unit) and Canada ($X per unit), while the average price for exports to Thailand ($X per unit) and South Korea ($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 Brazil (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Mexico

In 2022, overseas purchases of gear boxes increased by 17% to X units, rising for the second consecutive year after two years of decline. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +35.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gear box imports rose sharply to $X in 2022. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +30.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 15%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X units) constituted the largest gear box supplier to Mexico, accounting for a 52% share of total imports. Moreover, gear box imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Japan (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.7% per year) and Japan (+2.0% per year).

In value terms, the United States ($X) constituted the largest supplier of gear boxes to Mexico, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.3% per year) and Japan (+1.6% per year).

Import Prices by Country

In 2022, the average gear box import price amounted to $X per unit, falling by -3% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 3% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and China ($X per unit), while the price for Canada ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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