Mexico: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Mexico

After two years of growth, the Mexican gym and fitness equipment market decreased by -11.2% to $X in 2022. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Gym and fitness equipment consumption peaked at $X in 2021, and then contracted in the following year.

Production of Gym and Fitness Equipment in Mexico

In value terms, gym and fitness equipment production contracted slightly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -0.5% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 31%. Gym and fitness equipment production peaked at $X in 2019; afterwards, it flattened through to 2022.

Exports of Gym and Fitness Equipment

Exports from Mexico

In 2022, shipments abroad of gym and fitness equipment increased by 426% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, gym and fitness equipment exports skyrocketed to $X in 2022. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for gym and fitness equipment exports from Mexico, accounting for a approx. 98% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +24.4%.

In value terms, the United States ($X) also remains the key foreign market for gym and fitness equipment exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +21.8%.

Export Prices by Country

The average gym and fitness equipment export price stood at $X per ton in 2022, reducing by -3.9% against the previous year. In general, the export price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 43% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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 -2.1% per year.

Imports of Gym and Fitness Equipment

Imports into Mexico

In 2022, approx. X tons of gym and fitness equipment were imported into Mexico; reducing by -27.3% against the previous year. Over the period under review, imports recorded a slight reduction. The pace of growth was the most pronounced in 2021 when imports increased by 71% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, gym and fitness equipment imports reduced to $X in 2022. In general, total imports indicated a buoyant 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, imports increased by +61.4% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 62%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest gym and fitness equipment supplier to Mexico, with a 78% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.4% per year) and Taiwan (Chinese) (+5.5% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Mexico, comprising 78% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.3% per year) and Taiwan (Chinese) (+5.1% per year).

Import Prices by Country

In 2022, the average gym and fitness equipment import price amounted to $X per ton, jumping by 17% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the average import price increased by 18%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 ($X per ton) and Italy ($X per ton), while the price for China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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