Mexico: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Mexico

In 2021, the Mexican gear cutting machine market decreased by -76.1% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption showed a noticeable downturn. Gear cutting machine consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Gear Cutting Machine Exports

Exports from Mexico

In 2020, shipments abroad of gear cutting, gear grinding or gear finishing machines decreased by -95.3% to X units for the first time since 2017, thus ending a two-year rising trend. Overall, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 660% against the previous year. The exports peaked at X units in 2019, and then contracted markedly in the following year.

In value terms, gear cutting machine exports fell rapidly to $X in 2020. Over the period under review, exports recorded a dramatic downturn. The growth pace was the most rapid in 2016 when exports increased by 1,186%. The exports peaked at $X in 2014; however, from 2015 to 2020, the exports failed to regain momentum.

Exports by Country

India (X units) was the main destination for gear cutting machine exports from Mexico, accounting for a 59% share of total exports. Moreover, gear cutting machine exports to India exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by the United Arab Emirates (X units), with a 12% share.

From 2012 to 2020, the average annual rate of growth in terms of volume to India amounted to -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-16.7% per year) and the United Arab Emirates (+9.1% per year).

In value terms, India ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Mexico, comprising 78% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by the United Arab Emirates, with a 1.8% share.

From 2012 to 2020, the average annual growth rate of value to India stood at -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-36.9% per year) and the United Arab Emirates (+6.3% per year).

Export Prices by Country

In 2020, the average gear cutting machine export price amounted to $X per unit, dropping by -42.6% against the previous year. Overall, the export price saw a abrupt slump. The pace of growth was the most pronounced in 2016 an increase of 74% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2020, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+1.5%), while the prices for the other major destinations experienced a decline.

Gear Cutting Machine Imports

Imports into Mexico

In 2021, overseas purchases of gear cutting, gear grinding or gear finishing machines decreased by -76.2% to X units, falling for the fourth year in a row after three years of growth. In general, imports recorded a pronounced slump. The pace of growth was the most pronounced in 2015 when imports increased by 163%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, gear cutting machine imports declined notably to $X in 2021. Overall, imports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2015 with an increase of 15% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), Sweden (X units) and China (X units) were the main suppliers of gear cutting machine imports to Mexico, with a combined 85% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +46.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gear cutting machine suppliers to Mexico were Switzerland ($X), Sweden ($X) and the United States ($X), together accounting for 72% of total imports. These countries were followed by Germany, Italy and China, which together accounted for a further 12%.

China, with a CAGR of +3.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, shrinking by -5.3% against the previous year. In general, the import price continues to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2014 an increase of 76% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-13.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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