Mexico: Static Converter Market 2024

Static Converter Market Size in Mexico

The Mexican static converter market skyrocketed to $X in 2021, rising by 1,741% against the previous year. Over the period under review, consumption recorded prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Static Converter Production in Mexico

In value terms, static converter production stood at $X in 2021 estimated in export price. Over the period under review, production showed a pronounced decline. The growth pace was the most rapid in 2015 when the production volume increased by 7.5% against the previous year. Static converter production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Static Converter Exports

Exports from Mexico

In 2021, overseas shipments of static converters decreased by -69.7% to X units, falling for the second year in a row after eight years of growth. Overall, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 287%. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, static converter exports stood at $X in 2021. Over the period under review, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +104.1% against 2012 indices. As a result, the exports attained 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 static converter exports from Mexico, accounting for a 92% share of total exports. Moreover, static converter exports to the United States exceeded the volume sent to the second major destination, China (X units), fourfold. Guatemala (X units) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+16.8% per year) and Guatemala (+25.5% per year).

In value terms, the United States ($X) remains the key foreign market for static converters exports from Mexico, comprising 93% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 0.8% share of total exports. It was followed by Canada, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+24.6% per year) and Canada (-14.7% per year).

Export Prices by Country

The average static converter export price stood at $X per unit in 2021, growing by 273% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Guatemala ($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 Germany (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Mexico

Static converter imports into Mexico skyrocketed to X units in 2021, picking up by 17% on the previous year's figure. The total import volume increased at an average annual rate of +5.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, static converter imports skyrocketed to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.3% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of static converter to Mexico, with a 73% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+54.8% per year) and the United States (+7.2% per year).

In value terms, China ($X) constituted the largest supplier of static converters to Mexico, comprising 53% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by Thailand, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.5% per year) and Thailand (+9.4% per year).

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, stabilizing at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 1.6%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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