Mexico: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Mexico

The Mexican hydraulic cylinder and system market rose significantly to $X in 2022, growing by 13% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +37.0% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the near future.

Production of Hydraulic Cylinders And Systems in Mexico

In value terms, hydraulic cylinder and system production rose rapidly to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -5.6% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 29%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Mexico

In 2022, approx. X units of hydraulic cylinders and systems were exported from Mexico; rising by 38% against the year before. Overall, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hydraulic cylinder and system exports surged to $X in 2022. Over the period under review, exports continue to indicate a strong 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 units) was the main destination for hydraulic cylinder and system exports from Mexico, accounting for a 91% share of total exports. Moreover, hydraulic cylinder and system exports to the United States exceeded the volume sent to the second major destination, Canada (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+99.2% per year) and Brazil (+5.8% per year).

In value terms, the United States ($X) remains the key foreign market for hydraulic cylinders and systems exports from Mexico, comprising 91% of total exports. The second position in the ranking was held by Canada ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+99.2% per year) and Brazil (+5.9% per year).

Export Prices by Country

In 2022, the average hydraulic cylinder and system export price amounted to $X per unit, shrinking by -6.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 12% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then declined in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Mexico

In 2022, supplies from abroad of hydraulic cylinders and systems increased by 40% to X units, rising for the second year in a row after two years of decline. In general, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 47% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, hydraulic cylinder and system imports skyrocketed to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +81.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 41%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X units) constituted the largest hydraulic cylinder and system supplier to Mexico, with a 44% share of total imports. Moreover, hydraulic cylinder and system imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold. South Korea (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+31.8% per year) and South Korea (+46.5% per year).

In value terms, the United States ($X) constituted the largest supplier of hydraulic cylinders and systems to Mexico, comprising 44% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.9% per year) and South Korea (+41.0% per year).

Import Prices by Country

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, with a decrease of -7.7% against the previous year. Over the period under review, the import price continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2013 an increase of less than 0.1% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 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 Japan ($X per unit) and Canada ($X per unit), while the price for France ($X per unit) and Italy ($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 (-3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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