The value-added of electrical equipment in Mexico indicates a robust growth trend from 2013 to 2023, with significant variation. The data shows fluctuations but an overall positive trajectory, experiencing a decline in 2020 due to external economic pressures, but rebounding strongly. As of 2023, it stood at 156.89 billion Mexican Pesos, reflecting sustained growth despite a downturn.
The year-on-year variations over the last two years indicate a stable increase of around 3.3% annually. Looking at the longer period, the 5-year Compound Annual Growth Rate (CAGR) was 3.38%, demonstrating moderate but consistent growth. Forecasts up to 2028 project a CAGR of 2.43%, suggesting an anticipated growth rate of 12.74% over the next five years.
Future trends to watch for include the impact of technological advancements and innovation in the electrical equipment sector, potential policy changes affecting manufacturing and trade, and shifts in market demand driven by smart infrastructure and renewable energy initiatives.
