Mexico: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Mexico

The Mexican non-electric motor handtools market soared to $X in 2022, rising by 31% against the previous year. Overall, consumption saw a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Non-Electric Motor Handtools Production in Mexico

In value terms, non-electric motor handtools production stood at $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value 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, production decreased by -1.4% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 25%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Non-Electric Motor Handtools Exports

Exports from Mexico

After two years of growth, shipments abroad of handtools, hydraulic or with a self-contained non-electric motor decreased by -50.6% to X units in 2022. Overall, exports faced a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 179% against the previous year. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, non-electric motor handtools exports plummeted to $X in 2022. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 40%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for non-electric motor handtools exports from Mexico, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -12.2%.

In value terms, the United States ($X) also remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -10.9%.

Export Prices by Country

The average non-electric motor handtools export price stood at $X per unit in 2022, increasing by 13% against the previous year. Over the period under review, the export price recorded a mild expansion. The most prominent rate of growth was recorded in 2018 an increase of 76%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the 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 +1.4% per year.

Non-Electric Motor Handtools Imports

Imports into Mexico

For the sixth year in a row, Mexico recorded growth in supplies from abroad of handtools, hydraulic or with a self-contained non-electric motor, which increased by 17% to X units in 2022. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 44% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, non-electric motor handtools imports surged to $X in 2022. The total import value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 35%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) was the main supplier of non-electric motor handtools to Mexico, accounting for a 92% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.2% per year) and Germany (+6.1% per year).

In value terms, China ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to Mexico, comprising 65% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.9% per year) and Germany (+2.9% per year).

Import Prices by Country

In 2022, the average non-electric motor handtools import price amounted to $X per unit, remaining stable against the previous year. Over the period under review, the import price continues to indicate a deep reduction. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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