Mexico: Isolating Switch Market 2024

Isolating Switch Market Size in Mexico

The Mexican isolating switch market surged to $X in 2022, jumping by 24% against the previous year. Overall, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -38.5% against 2017 indices. Isolating switch consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Isolating Switch Production in Mexico

In value terms, isolating switch production shrank slightly to $X in 2022 estimated in export price. Overall, the total production indicated a resilient 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 -2.6% against 2019 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 64%. Isolating switch production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Isolating Switch Exports

Exports from Mexico

In 2022, approx. X units of isolating switches & make-and-break switches were exported from Mexico; declining by -39.1% against the year before. Over the period under review, exports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 110% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, isolating switch exports surged to $X in 2022. In general, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 isolating switch 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 amounted to -1.4%.

In value terms, the United States ($X) also remains the key foreign market for isolating switches & make-and-break switches exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +7.9%.

Export Prices by Country

In 2022, the average isolating switch export price amounted to $X per unit, with an increase of 133% against the previous year. In general, the export price showed a resilient expansion. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 +9.4% per year.

Isolating Switch Imports

Imports into Mexico

In 2022, supplies from abroad of isolating switches & make-and-break switches was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2014 when imports increased by 576% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, isolating switch imports totaled $X in 2022. Over the period under review, imports, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2014 with an increase of 38%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of isolating switch to Mexico, with a 60% share of total imports. Moreover, isolating switch 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 an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.8% per year) and South Korea (+21.3% per year).

In value terms, the United States ($X) constituted the largest supplier of isolating switches & make-and-break switches to Mexico, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Italy, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+48.5% per year) and Italy (-11.9% per year).

Import Prices by Country

In 2022, the average isolating switch import price amounted to $X per unit, growing by 3.4% against the previous year. In general, the import price posted a mild increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by 911% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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 China (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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