Mexico: Public Works Machinery Market 2024

Public Works Machinery Market Size in Mexico

In 2021, the Mexican public works machinery market decreased by -6.7% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, saw a relatively flat trend pattern. Public works machinery consumption peaked at $X in 2020, and then declined in the following year.

Public Works Machinery Production in Mexico

In value terms, public works machinery production dropped to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 423%. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Public Works Machinery Exports

Exports from Mexico

In 2021, public works machinery exports from Mexico contracted rapidly to X units, with a decrease of -95% compared with the previous year's figure. In general, exports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2017 with an increase of 2,898% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, public works machinery exports declined markedly to $X in 2021. Overall, exports continue to indicate a dramatic decline. The pace of growth was the most pronounced in 2017 when exports increased by 88% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), the United Arab Emirates (X units) and Myanmar (X units) were the main destinations of public works machinery exports from Mexico. Moreover, public works machinery exports in the United States exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, twofold.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for machinery for public works and building exports from Mexico, comprising 87% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-8.0% per year) and Myanmar (-73.9% per year).

Export Prices by Country

In 2021, the average public works machinery export price amounted to $X per unit, waning by -55.4% against the previous year. Over the period under review, the export price, however, showed significant growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 5,572% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Myanmar ($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 Guatemala (+35.5%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Mexico

In 2021, overseas purchases of machinery for public works and building decreased by -0.7% to X units, falling for the fourth consecutive year after two years of growth. In general, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2014 when imports increased by 75% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, public works machinery imports stood at $X in 2021. Over the period under review, imports showed a deep reduction. The pace of growth appeared the most rapid in 2013 when imports increased by 27% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of public works machinery imports to Mexico, together comprising 99% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +3.9%), while purchases for the other leaders experienced a decline.

In value terms, the largest public works machinery suppliers to Mexico were the United States ($X), Germany ($X) and China ($X), together comprising 92% of total imports.

Among the main suppliers, Germany, with a CAGR of -1.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average public works machinery import price amounted to $X per unit, stabilizing at the previous year. Overall, the import price, however, saw a drastic downturn. The pace of growth was the most pronounced in 2015 when the average import price increased by 25%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a 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 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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