The import of air conditioners with refrigerating units to Mexico saw substantial fluctuations over the past decade with notable drops in 2016, 2017, and especially in 2020. After recovering some losses in 2021 and 2022, the value stood at 219.77 million US Dollars in 2023, marking a modest 0.53% year-on-year increase. Looking closer at trends:
- Year-on-year growth from 2022 to 2023 was a slight 0.53%.
- Over the last five years, the compound annual growth rate (CAGR) averaged at 0.22%.
- Forecasted data suggests a steady but slow growth, culminating in a 5-year forecast CAGR of 0.44% with a total forecasted growth rate of 2.23% by 2028.
Future trends to watch for include the impact of new environmental regulations on refrigerant types, the advancement in energy-efficient technologies, and how economic conditions influence consumer purchasing power and behavior within the HVAC market in Mexico.
