The import value of Electric Generating Sets and Rotary Converters to Mexico has shown significant fluctuations over the past decade with an actual value standing at $1803.7 million in 2023. Notably, the market reached its lowest in 2017 at $676.61 million and peaked in 2018 at $1708.6 million. The market rebounded steadily post-2018 showing an average annual growth rate (CAGR) of 2.92% from 2023 to 2028. The year-on-year growth rate in 2023 was 4.08%, a slight increase from the previous years at 4.34% in 2022 and 26.07% in 2021, indicating a trend toward stabilization.
Future trends to watch for:
- Advancements in renewable energy technologies which may influence the import of more sophisticated generating sets and converters.
- Government policies and infrastructure investments aimed at upgrading the power generation sector.
- Potential supply chain disruptions or changes in global trade relations which could impact import volumes and prices.
- Market demand driven by economic factors and energy consumption trends within the country.