Mexico: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Mexico

After two years of growth, the Mexican market for instruments for measuring electrical quantities decreased by -3.8% to $X in 2021. Over the period under review, consumption, however, showed a pronounced decrease. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Instruments for Measuring Electrical Quantities in Mexico

In value terms, instruments for measuring electrical quantities production shrank significantly to $X in 2021 estimated in export price. Over the period under review, production showed a noticeable downturn. The most prominent rate of growth was recorded in 2019 with an increase of 97% against the previous year. Instruments for measuring electrical quantities production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Instruments for Measuring Electrical Quantities

Exports from Mexico

In 2021, approx. X units of instruments for measuring electrical quantities were exported from Mexico; picking up by 32% against the year before. In general, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 35%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, instruments for measuring electrical quantities exports expanded notably to $X in 2021. The total export value increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 35% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for instruments for measuring electrical quantities exports from Mexico, accounting for a 95% share of total exports. It was followed by the United Arab Emirates (X units), with a 1.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +11.1%.

In value terms, the United States ($X) remains the key foreign market for instruments for measuring electrical quantities exports from Mexico, comprising 96% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +6.0%.

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, dropping by -19.1% against the previous year. Overall, the export price recorded a perceptible contraction. The pace of growth appeared the most rapid in 2018 an increase of 18%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+1.8%).

Imports of Instruments for Measuring Electrical Quantities

Imports into Mexico

In 2021, after two years of decline, there was significant growth in overseas purchases of instruments for measuring electrical quantities, when their volume increased by 62% to X units. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest instruments for measuring electrical quantities supplier to Mexico, with a 72% share of total imports. Moreover, instruments for measuring electrical quantities imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by India (X units), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.9% per year) and India (+31.3% per year).

In value terms, the United States ($X) constituted the largest supplier of instruments for measuring electrical quantities to Mexico, comprising 55% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Taiwan (Chinese), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.6% per year) and Taiwan (Chinese) (+1.4% per year).

Import Prices by Country

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, falling by -21.9% against the previous year. Overall, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in 2014 an increase of 34% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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