Mexico Home Appliances Market Introduction and Overview
According to SPER Market Research, the Mexico Home Appliances Market is estimated to reach USD 24.48 billion by 2033 with a CAGR 5.41%.
The report includes an in-depth analysis of the Mexico Home Appliances Market, including market size and trends, product mix, distribution channels, and supplier analysis. Appliances for the home are necessary equipment made to make daily life easier and household chores simpler. They include anything from big equipment like washing machines, ovens, and refrigerators to tiny ones like toasters, microwaves, and vacuum cleaners. When it comes to cooking, cleaning, and house maintenance, these gadgets improve ease and efficiency. Thanks to technological developments, a lot of contemporary home appliances come equipped with smart features that let users operate them from a distance and maximize energy savings.
- Modern scroll compressor production line at LG Electronics' Monterrey, Mexico, facility opened its doors in January 2024, enhancing the company's manufacturing capabilities.
- Robert Bosch, a German engineering and technology company best known for producing home appliances, had originally set aside USD 75.3 million for its Aguascalientes operations in Mexico in April 2023. Now, though, the business has made the decision to double its investment, giving the facility a sizeable USD 258.2 million.
Market Opportunities and Challenges
Opportunities: Recent years have seen a notable increase in the Mexican home appliance market, driven by elements including urbanization, rising disposable income, and shifting customer tastes. Everyday living activities depend on home appliances, which also add to Mexican households' general comfort and convenience. Urbanization is one of the main factors propelling the Mexican home appliance market. The need for household appliances rises as more people relocate to cities and other metropolitan locations. Compared to people who live in rural regions, urban dwellers usually have smaller living spaces and depend more on equipment to make the most of their living space. Urban households are more likely to own compact and multipurpose appliances, which meet the needs of space-constrained users. Government programs that support infrastructure development and homeownership also help to the expansion of market.
Challenges: Subsequent to the pandemic, there was a worldwide scarcity of semiconductor chips due to significant disruptions in supply chains. Crucial features like connecting to other smart devices or home systems to allow users to control appliances remotely with smartphones are made possible by microchips found in home appliances and items. An adverse effect on customer interest in new gadget advancements is predicted to result from high initial capital and maintenance expenses.
Market Competitive Landscape
The competitive environment of the Mexican home appliance market is defined by both local and foreign companies fighting for market share. A few of the leading companies in Mexico's home appliance market are LG Electronics, BSH Hausgerate GmbH, Electrolux AB, Mabe, and Whirlpool Corporation. Due to their well-known brands and vast distribution channels, international firms may be the dominant players in some areas, but local manufacturers are also important, especially when it comes to small appliance production and niche markets.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Major Appliances, By Small Appliances, By Distribution Channel.
|
| Regions covered | Eastern Region, Western Region, Northern Region, Southern Region
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| Companies Covered | Black and Decker, BSH Hausgerate GmbH, Daewoo Electronics Mexico, Electrolux AB, Hisense, LG Electronics, Mabe, Midea, Panasonic Corporation, Samsung Electronics, Whirlpool Corporation, Others.
|
COVID-19 Impact on Mexico Home Appliances Market
The COVID-19 pandemic had a profound effect on Mexico's home appliance sector, changing demand patterns and customer behavior. Essential appliance purchases increased significantly during lockdowns as consumers adjusted to spending more time at home. Appliances like the kitchen, laundry, and refrigerators saw a spike in sales as people's priorities shifted to usability and convenience. In contrast, the market for luxury and high-end appliances shrank as cautious spending resulted from the unpredictability of the economy. Disruptions in the supply chain also had an impact on the availability and cost of products, forcing producers to quickly adjust to shifting market conditions.
Key Target Audience:
- Homeowners
- Renters
- Families
- Young Professionals
- Seniors
- Small Businesses
- Eco-conscious Consumers
- Tech-savvy Shoppers
- Renovators and Builders
- Hospitality Industry
Our in-depth analysis of the Mexico Home Appliances Market includes the following segments:
| By Major Appliances: | RefrigeratorsFreezersDishwashing MachinesWashing MachinesOvensAir ConditionersOther |
| By Small Appliances: | Coffee/Tea Makers Food Processors Grills and Toasters Vacuum Cleaners Other |
| By Distribution Channel: | Mass Merchandisers Exclusive Stores Online Others |
Key Topics Covered in the Report:
- Mexico Home Appliances Market Size (FY’2024-FY’2033)
- Overview of Mexico Home Appliances Market
- Segmentation of Mexico Home Appliances Market By Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Ovens, Air Conditioners, Other)
- Segmentation of Mexico Home Appliances Market By Small Appliances (Coffee/Tea Makers, Food Processors, Grills and Toasters, Vacuum Cleaners, Other)
- Expansion Analysis of Mexico Home Appliances Market
- Problems and Obstacles in Mexico Home Appliances Market
- Competitive Landscape in the Mexico Home Appliances Market
- Impact of COVID-19 and Demonetization on Mexico Home Appliances Market
- Details on Current Investment in Mexico Home Appliances Market
- Competitive Analysis of Mexico Home Appliances Market
- Prominent Players in the Mexico Home Appliances Market
- SWOT Analysis of Mexico Home Appliances Market
- Mexico Home Appliances Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Mexico Home Appliances Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Mexico Home Appliances Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Mexico Home Appliances Market
7. Mexico Home Appliances Market, By Major Appliances (USD Million) 2020-2033
7.1. Mexico Home Appliances Market Size, Share and Forecast, By Major Appliances, 2020-2026
7.2. Mexico Home Appliances Market Size, Share and Forecast, By Major Appliances, 2027-2033
7.3. Refrigerators
7.4. Freezers
7.5. Dishwashing Machines
7.6. Washing Machines
7.7. Ovens
7.8. Air Conditioners
7.9. Other
8. Mexico Home Appliances Market, By Small Appliances (USD Million) 2020-2033
8.1. Mexico Home Appliances Market Size, Share and Forecast, By End User, 2020-2026
8.2. Mexico Home Appliances Market Size, Share and Forecast, By End User, 2027-2033
8.3. Coffee/Tea Makers
8.4. Food Processors
8.5. Grills and Toasters
8.6. Vacuum Cleaners
8.7. Other
9. Mexico Home Appliances Market, By Distribution Channel (USD Million) 2020-2033
9.1. Mexico Home Appliances Market Size, Share and Forecast, By Distribution Channel, 2020-2026
9.2. Mexico Home Appliances Market Size, Share and Forecast, By Distribution Channel, 2027-2033
9.3. Mass Merchandisers
9.4. Exclusive Stores
9.5. Online
9.6. Others
10. Mexico Home Appliances Market Forecast, 2020-2033 (USD Million)
10.1. Mexico Home Appliances Market Size and Market Share
11. Mexico Home Appliances Market, By Region, 2020-2033 (USD Million)
11.1. Mexico Home Appliances Market Size and Market Share By Region (2020-2026)
11.2. Mexico Home Appliances Market Size and Market Share By Region (2027-2033)
11.3. Eastern Region
11.4. Western Region
11.5. Northern Region
11.6. Southern Region
12. Company Profile
12.1. Black and Decker
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. BSH Hausgerate GmbH
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Daewoo Electronics Mexico
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Electrolux AB
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Hisense
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. LG Electronics
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Mabe
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Midea
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Panasonic Corporation
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Samsung Electronics
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Whirlpool Corporation
12.11.1. Company details
12.11.2. Financial outlook
12.11.3. Product summary
12.11.4. Recent developments
12.12. Others
13. Conclusion
14. Reference Links
15. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
