Mexico: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Mexico

In 2021, the Mexican machine-tool for working metal market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Machine Tools For Working Metal

Exports from Mexico

Machine-tool for working metal exports from Mexico dropped remarkably to X units in 2021, which is down by -79.5% compared with the previous year. In general, exports saw a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 293% against the previous year. As a result, the exports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, machine-tool for working metal exports contracted markedly to $X in 2021. Over the period under review, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 282%. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

The United States (X units) was the main destination for machine-tool for working metal exports from Mexico, accounting for a 79% share of total exports. It was followed by Romania (X units), with a 2.3% share of total exports. The third position in this ranking was taken by Peru (X units), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+59.8% per year) and Peru (-8.9% per year).

In value terms, the United States ($X) remains the key foreign market for machine tools for working metal exports from Mexico, comprising 71% of total exports. The second position in the ranking was taken by Romania ($X), with a 1.1% share of total exports. It was followed by Peru, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+51.6% per year) and Peru (-1.6% per year).

Export Prices by Country

In 2021, the average machine-tool for working metal export price amounted to $X per unit, rising by 71% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+8.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machine Tools For Working Metal

Imports into Mexico

In 2021, supplies from abroad of machine tools for working metal increased by 39% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 69% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working metal imports surged to $X in 2021. Overall, imports continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 52%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), China (X units) and Spain (X units) were the main suppliers of machine-tool for working metal imports to Mexico, together comprising 78% of total imports. These countries were followed by Italy, Taiwan (Chinese), Japan, Brazil and South Korea, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +36.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of machine tools for working metal to Mexico, comprising 28% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.1% per year) and China (+13.1% per year).

Import Prices by Country

In 2021, the average machine-tool for working metal import price amounted to $X per unit, approximately reflecting the previous year. In general, the import price, however, showed a perceptible decline. The growth pace was the most rapid in 2019 an increase of 30%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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