Mexico: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Mexico

In 2022, the Mexican industrial sewing machine market increased by 7.1% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Industrial Sewing Machine Production in Mexico

In value terms, industrial sewing machine production surged to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt shrinkage. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Industrial Sewing Machine Exports

Exports from Mexico

In 2022, exports of industrial sewing machines from Mexico contracted rapidly to X units, with a decrease of -42.5% against the previous year's figure. Over the period under review, exports continue to indicate a precipitous slump. The growth pace was the most rapid in 2016 when exports increased by 47% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, industrial sewing machine exports shrank remarkably to $X in 2022. In general, exports saw a sharp downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 20%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for industrial sewing machine exports from Mexico, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -23.6%.

In value terms, the United States ($X) also remains the key foreign market for industrial sewing machines exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -20.5%.

Export Prices by Country

In 2022, the average industrial sewing machine export price amounted to $X per unit, with an increase of 14% against the previous year. Overall, the export price posted a notable expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 93%. 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 +4.0% per year.

Industrial Sewing Machine Imports

Imports into Mexico

In 2022, supplies from abroad of industrial sewing machines increased by 7% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, saw a noticeable descent. The pace of growth was the most pronounced in 2013 with an increase of 45% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, industrial sewing machine imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machine supplier to Mexico, accounting for a 87% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.7% per year) and the United States (-10.3% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to Mexico, comprising 51% of total imports. The second position in the ranking was taken by Japan ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.6% per year) and the United States (+3.2% per year).

Import Prices by Country

In 2022, the average industrial sewing machine import price amounted to $X per unit, dropping by -2.5% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial sewing machine import price increased by +106.8% against 2013 indices. The growth pace was the most rapid in 2014 when the average import price increased by 29%. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then dropped slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :