Mexico: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Mexico

After four years of decline, the Mexican market for machines for preparing, weaving and knitting textiles increased by 16% to $X in 2021. In general, consumption, however, continues to indicate a slight reduction. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Mexico

In 2021, overseas shipments of machines for preparing, weaving and knitting textiles decreased by -54.1% to X units for the first time since 2017, thus ending a three-year rising trend. In general, exports saw a deep downturn. The pace of growth was the most pronounced in 2015 when exports increased by 376%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, textile weaving and knitting machinery exports fell dramatically to $X in 2021. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 276% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for textile weaving and knitting machinery exports from Mexico, with a 40% share of total exports. Moreover, textile weaving and knitting machinery exports to the United States exceeded the volume sent to the second major destination, Guatemala (X units), twofold. The third position in this ranking was taken by Bangladesh (X units), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-8.0% per year) and Bangladesh (+0.1% per year).

In value terms, the United States ($X) remains the key foreign market for machines for preparing, weaving and knitting textiles exports from Mexico, comprising 37% of total exports. The second position in the ranking was held by Pakistan ($X), with a 15% share of total exports. It was followed by India, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-2.4% per year) and India (-19.0% per year).

Export Prices by Country

The average export price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, which is down by -15.1% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, textile weaving and knitting machinery export price decreased by -20.8% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 129%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while the average price for exports to Nicaragua ($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 Pakistan (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Mexico

In 2021, overseas purchases of machines for preparing, weaving and knitting textiles increased by 21% to X units for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 27% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, textile weaving and knitting machinery imports rose sharply to $X in 2021. Overall, imports, however, continue to indicate a perceptible contraction. The growth pace was the most rapid in 2015 when imports increased by 45% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Germany (X units) and Japan (X units) were the main suppliers of textile weaving and knitting machinery imports to Mexico, with a combined 73% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +6.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Germany ($X) and Japan ($X) appeared to be the largest textile weaving and knitting machinery suppliers to Mexico, together accounting for 56% of total imports.

China, with a CAGR of +8.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, falling by -10.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 15%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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