Mexico: Microphone Market 2024

Microphone Market Size in Mexico

In 2022, the Mexican microphone market decreased by -22.2% to $X, falling for the second year in a row after four years of growth. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Microphone Production in Mexico

In value terms, microphone production reached $X in 2022 estimated in export price. Overall, production recorded strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 155% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Microphone Exports

Exports from Mexico

In 2022, overseas shipments of microphones and their stands increased by 28% to X units, rising for the fourth consecutive year after six years of decline. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 51% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, microphone exports totaled $X in 2022. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.2% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 24% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for microphone exports from Mexico, accounting for a approx. 98% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) also remains the key foreign market for microphones and their stands exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +5.9%.

Export Prices by Country

The average microphone export price stood at $X per unit in 2022, falling by -14% against the previous year. Overall, the export price, however, continues to indicate notable growth. The pace of growth was the most pronounced in 2016 an increase of 69%. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 +5.3% per year.

Microphone Imports

Imports into Mexico

In 2022, microphone imports into Mexico reduced slightly to X units, falling by -4.2% against 2021 figures. Overall, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 9.2% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, microphone imports dropped to $X in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 18%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest microphone supplier to Mexico, accounting for a 75% share of total imports. Moreover, microphone imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), eightfold. The third position in this ranking was held by the Philippines (X units), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.3% per year) and the Philippines (+56.1% per year).

In value terms, China ($X) constituted the largest supplier of microphones and their stands to Mexico, comprising 44% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports. It was followed by Japan, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.3% per year) and Japan (+1.8% per year).

Import Prices by Country

The average microphone import price stood at $X per unit in 2022, standing approx. at the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, microphone import price increased by +126.5% against 2012 indices. The growth pace was the most rapid in 2013 when the average import price increased by 45% against the previous year. The import price peaked at $X per unit in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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