Mexico: Relay Market 2024

Relay Market Size in Mexico

In 2022, the Mexican relay market increased by 9.4% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Relay Exports

Exports from Mexico

In 2022, the amount of relays exported from Mexico skyrocketed to X units, with an increase of 30% compared with the year before. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 116% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, relay exports surged to $X in 2022. Over the period under review, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +75.3% against 2020 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 relay exports from Mexico, accounting for a 92% share of total exports. Moreover, relay exports to the United States exceeded the volume sent to the second major destination, Brazil (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-5.7% per year) and Nicaragua (-29.5% per year).

In value terms, the United States ($X) remains the key foreign market for relays exports from Mexico, comprising 90% of total exports. The second position in the ranking was taken by Brazil ($X), with a 2.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+2.2% per year) and Nicaragua (-30.7% per year).

Export Prices by Country

In 2022, the average relay export price amounted to $X per unit, surging by 4.1% against the previous year. In general, the export price posted a notable expansion. The growth pace was the most rapid in 2016 an increase of 76% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Nicaragua ($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 Brazil (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Relay Imports

Imports into Mexico

In 2022, overseas purchases of relays increased by 14% to X units, rising for the third year in a row after five years of decline. In general, imports posted a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 85%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, relay imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 26%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of relay to Mexico, accounting for a 57% share of total imports. Moreover, relay imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. South Korea (X units) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.3% per year) and South Korea (+8.7% per year).

In value terms, China ($X) constituted the largest supplier of relays to Mexico, comprising 39% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports. It was followed by Japan, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.3% per year) and Japan (-5.4% per year).

Import Prices by Country

The average relay import price stood at $X per unit in 2022, remaining stable against the previous year. Overall, the import price, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2019 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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