Mexico: Silencer Market 2024

Silencer Market Size in Mexico

After four years of growth, the Mexican silencer market decreased by -6.6% to $X in 2021. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Silencer consumption peaked at $X in 2020, and then shrank in the following year.

Silencer Production in Mexico

In value terms, silencer production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +44.6% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then contracted in the following year.

Silencer Exports

Exports from Mexico

In 2021, approx. X tons of silencers and exhaust pipes were exported from Mexico; growing by 15% compared with 2020. Overall, exports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of 52% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, silencer exports surged to $X in 2021. Over the period under review, exports saw strong growth. 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 tons) was the main destination for silencer exports from Mexico, with a approx. 98% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +3.9%.

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

From 2012 to 2021, the average annual growth rate of value to the United States stood at +9.6%.

Export Prices by Country

The average silencer export price stood at $X per ton in 2021, rising by 26% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silencer export price increased by +87.0% against 2014 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +5.5% per year.

Silencer Imports

Imports into Mexico

In 2021, silencer imports into Mexico was estimated at X tons, stabilizing at the previous year's figure. In general, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 19% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silencer imports expanded rapidly to $X in 2021. Overall, imports, however, recorded a pronounced curtailment. The growth pace was the most rapid in 2019 when imports increased by 22%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of silencer to Mexico, accounting for a 56% share of total imports. Moreover, silencer imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.4% per year) and Germany (+0.1% per year).

In value terms, the United States ($X) constituted the largest supplier of silencer to Mexico, comprising 56% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Germany, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.5% per year) and Germany (+2.6% per year).

Import Prices by Country

The average silencer import price stood at $X per ton in 2021, with an increase of 4.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 4.9% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Japan ($X per ton) and South Africa ($X per ton), while the price for Italy ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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