Mexico: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Mexico

The Mexican primary cell and battery market reduced modestly to $X in 2022, approximately mirroring the previous year. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Primary Cells and Batteries in Mexico

In value terms, primary cell and battery production shrank slightly to $X in 2022 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.8% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 65%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Primary Cells and Batteries

Exports from Mexico

In 2022, after two years of growth, there was decline in shipments abroad of primary cells and batteries, when their volume decreased by -3.3% to X units. Over the period under review, exports recorded a noticeable descent. The pace of growth was the most pronounced in 2017 with an increase of 141% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, primary cell and battery exports soared to $X in 2022. Overall, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +77.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X units) was the main destination for primary cell and battery exports from Mexico, with a 97% share of total exports. It was followed by Guatemala (X units), with a 2.1% share of total exports. The third position in this ranking was held by El Salvador (X units), with a 0.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-19.1% per year) and El Salvador (-26.4% per year).

In value terms, the United States ($X) remains the key foreign market for primary cells and batteries exports from Mexico, comprising 99% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 0.8% share of total exports. It was followed by El Salvador, with less than 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-7.8% per year) and El Salvador (-32.4% per year).

Export Prices by Country

The average primary cell and battery export price stood at $X per unit in 2022, increasing by 36% against the previous year. Over the period under review, the export price posted prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 200% against the previous year. 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.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to El Salvador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports into Mexico

For the fifth year in a row, Mexico recorded growth in overseas purchases of primary cells and batteries, which increased by 5.7% to X units in 2022. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.0% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 23%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, primary cell and battery imports expanded significantly to $X in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 23% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

China (X units), the United States (X units) and Japan (X units) were the main suppliers of primary cell and battery imports to Mexico, together accounting for 82% of total imports. Indonesia, Singapore and Malaysia lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +30.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Japan ($X) constituted the largest primary cell and battery suppliers to Mexico, together accounting for 66% of total imports. Indonesia, Singapore and Malaysia lagged somewhat behind, together comprising a further 13%.

Malaysia, with a CAGR of +15.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average primary cell and battery import price stood at $X per unit in 2022, with an increase of 3.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 21%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform