Mexico: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2024

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Mexico

In 2021, the Mexican non-electronic hydro- and hygrometers market decreased by -5.3% to $X, falling for the third year in a row after two years of growth. In general, consumption saw a slight decline. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Non-Electronic Hydro-, Hygro-, Psychrometers in Mexico

In value terms, non-electronic hydro- and hygrometers production shrank to $X in 2021 estimated in export price. In general, production recorded a noticeable downturn. The pace of growth appeared the most rapid in 2018 with an increase of 44%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Mexico

In 2021, shipments abroad of non-electronic hydro-, hygro-, psychrometers increased by 96% to X units, rising for the third year in a row after four years of decline. In general, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-electronic hydro- and hygrometers exports skyrocketed to $X in 2021. Over the period under review, exports saw a remarkable increase. 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 non-electronic hydro- and hygrometers exports from Mexico, accounting for a 82% share of total exports. Moreover, non-electronic hydro- and hygrometers exports to the United States exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. China (X units) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+27.7% per year) and China (+40.8% per year).

In value terms, the United States ($X) remains the key foreign market for non-electronic hydro-, hygro-, psychrometers exports from Mexico, comprising 85% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.1% share of total exports. It was followed by China, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+31.3% per year) and China (+44.7% per year).

Export Prices by Country

In 2021, the average non-electronic hydro- and hygrometers export price amounted to $X per unit, growing by 19% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 35%. 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 somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United Arab Emirates ($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 the United Arab Emirates (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Mexico

Non-electronic hydro- and hygrometers imports into Mexico skyrocketed to X units in 2021, with an increase of 17% on 2020. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 41% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, non-electronic hydro- and hygrometers imports rose remarkably to $X in 2021. In general, imports posted a strong increase. The pace of growth was the most pronounced in 2019 when imports increased by 35%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of non-electronic hydro- and hygrometers imports to Mexico, with a combined 63% share of total imports. These countries were followed by Switzerland, Finland, France, Austria, Japan, the Czech Republic, South Korea and the UK, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +26.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest non-electronic hydro- and hygrometers suppliers to Mexico, with a combined 63% share of total imports. Switzerland, Finland, France, Austria, Japan, the Czech Republic, South Korea and the UK lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Austria, with a CAGR of +27.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-electronic hydro- and hygrometers import price stood at $X per unit in 2021, falling by -2.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 8% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United States ($X per unit) and China ($X per unit), while the price for the UK ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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