The import of domestic appliances incorporating electric motors to Mexico experienced fluctuating trends from 2013 to 2023. In 2023, the value stood at 240.04 million USD. Observing year-on-year variations, the market saw several peaks and troughs, with notable declines in 2014 and 2016, and recoveries in 2015, 2018, and 2021. Over the last two years, there was modest growth with increases of 0.87% in 2022 and 0.84% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stabilized at 0.6%, indicating restrained growth.
Looking forward, forecasted data suggests a gradual increase in import values, with the market expected to grow at a forecasted 5-year CAGR of 0.68%, reaching 250.53 million USD by 2028. This implies a 3.42% cumulative growth over this period.
Future trends to watch for include potential impacts of technological advancements, shifts in consumer preferences towards energy-efficient appliances, and changes in trade policies which could all influence the projected import growth.
