Mexico Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 15.94 Billion |
| Market Size (2029) | USD 18.97 Billion |
| CAGR (2024 - 2029) | 3.53 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Home Appliances Market Analysis
The Mexico Home Appliances Market size is estimated at USD 15.94 billion in 2024, and is expected to reach USD 18.97 billion by 2029, growing at a CAGR of 3.53% during the forecast period (2024-2029).
Mexico is one of the world’s main exporting countries of household appliances, with countries China, Germany, and Italy coming next. Manufacturers and distributors of major and small appliances in Mexico are observing an improvement in both volume and value terms driven by the positive performance of the construction industry, a recovery in consumer confidence, and an increase in promotional activities in retail outlets. Sophisticated and attractive home appliance designs in the mid to premium range observed a strong demand from consumers who are seeing an improvement in their standard of living.
Mexico’s proximity to the United States, Canada, and Latin America allows a reduction in logistical costs for its home appliance products export, which are more costly to transport and store. Also, Mexico’s access to the Atlantic and Pacific Oceans distinguishes it as a strategic location to do business and exchange goods with Europe and Asia. With technological innovations in home appliances, Mexico is observing a global increase in demand for different segments of home appliances. Through smart connectivity with wifi and the voice control systems of Amazon Alexa and Google Assistant, home appliances have been set up to work together and do multiple things at once, such as adjusting the temperature and lighting of the home.
Mexico Home Appliances Market Trends
Rising Residential Space In Mexico is Driving the Market
Mexico's population is observing continuous growth over the years, which is leading to an increase in demand for residential space, which is creating a positive externality for sales of different segments of home appliances. Large metropolitan cities in Mexico are providing the population with employment opportunities and raising the demand for household space and appliances. Mexico City, Tijuana, Ecatepec, Leon, and Puebla exist among the largest cities of Mexico, providing ample opportunities for home appliance manufacturers to expand their sales with a rising population.
Rising Share Of Major Appliances is Fueling the Market
Major appliances are dominating the home appliances market by taking more than 60% of the share in the home appliances market in Mexico. Among the major appliances, refrigerators, freezers, cookers, ovens, and washing machines are among the segments with a major share in the market and have observed a continuous increase in revenue generation over the years. Washing machines exist in more than 80% of Mexican households, and they have become a necessary commodity for the residents, which is driving global manufacturers to supply their advanced products in the market and capture the existing market share. With advanced features of wifi and Bluetooth connectivity in major appliances, Mexicans prefer smart major appliances that allow them to control their operations remotely and are user-friendly as well.
Mexico Home Appliances Industry Overview
Mexico's home appliance market is fragmented, with a large number of players operating in different segments of home appliances. With technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets. Some of the major players operating in Mexico's home appliance market are Whirlpool Corporation, Mabe, Electrolux AB, LG Electronics, and BSH Hausgerate GmbH.
Mexico Home Appliances Market Leaders
Whirlpool Corporation
Mabe
Electrolux AB
LG Electronics
BSH Hausgerate GmbH
*Disclaimer: Major Players sorted in no particular order
Mexico Home Appliances Market News
- April 2022: Betterware de México completed the acquisition of JAFRA's operations in Mexico and the United States, along with JAFRA's trademark rights worldwide. Betterware's wide product portfolio includes home organization, kitchen, commuting, laundry, and products and solutions for every corner of the household.
- October 2022: Samsung opened its first Latin America Bespoke Home Flagship Store in Mexico City. Bespoke Home Flagship Store was to provide users with home appliances that included refrigerators, dishwashers, ovens, washing machines, dryers, and vacuum cleaners, all in one place.
Mexico Home Appliances Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Household Income increasing consumer spending
4.2.2 Increase in Residential Space driving demand for household appliance
4.3 Market Restraints
4.3.1 Increase in price of household appliance with rising inflation
4.3.2 Large home appliance players affecting sales of small manufacturers
4.4 Market Opportunities
4.4.1 Innovating household appliance with changing consumer behavior
4.4.2 Low penetration of smart home appliance in the market
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Technological Innovations in Mexico Home Appliance Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Major Appliances
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Ovens
5.1.6 Air Conditioners
5.1.7 Other Major Appliances
5.2 Small Appliances
5.2.1 Coffee/Tea Makers
5.2.2 Food Processors
5.2.3 Grills and Toasters
5.2.4 Vacuum Cleaners
5.2.5 Other Small Appliances
5.3 Distribution Channel
5.3.1 Mass Merchandisers
5.3.2 Exclusive Stores
5.3.3 Online
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Analysis
6.2 Company Profiles
6.2.1 Whirlpool Corporation
6.2.2 Electrolux AB
6.2.3 LG Electronics
6.2.4 Samsung Electronics
6.2.5 Panasonic Corporation
6.2.6 Hisense
6.2.7 Black and Decker
6.2.8 Mabe
6.2.9 Daewoo Electronics Mexico
6.2.10 Midea
6.2.11 BSH Hausgerate GmbH*
- *List Not Exhaustive
7. MARKET FUTURE TREND
8. DISCLAIMER AND ABOUT US
Mexico Home Appliances Industry Segmentation
A home appliance is a device that helps with household chores, including cooking, cleaning, and food preservation. It is also known as a domestic appliance, an electric appliance, or a household appliance.
Mexico's home appliance market is segmented by major appliances (refrigerators, freezers, dishwashing machines, washing machines, ovens, air conditioners, and other major appliances), small appliances (coffee/tea makers, food processors, grills, toasters, vacuum cleaners, and other small appliances), and distribution channels (mass merchandisers, exclusive stores, online, and other distribution channels).
The report offers market size and forecasts for Mexico's home appliance market in value (USD) for all the above segments.
| Major Appliances | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Ovens | |
| Air Conditioners | |
| Other Major Appliances |
| Small Appliances | |
| Coffee/Tea Makers | |
| Food Processors | |
| Grills and Toasters | |
| Vacuum Cleaners | |
| Other Small Appliances |
| Distribution Channel | |
| Mass Merchandisers | |
| Exclusive Stores | |
| Online | |
| Other Distribution Channels |
Mexico Home Appliances Market Research FAQs
How big is the Mexico Home Appliances Market?
The Mexico Home Appliances Market size is expected to reach USD 15.94 billion in 2024 and grow at a CAGR of 3.53% to reach USD 18.97 billion by 2029.
What is the current Mexico Home Appliances Market size?
In 2024, the Mexico Home Appliances Market size is expected to reach USD 15.94 billion.
Who are the key players in Mexico Home Appliances Market?
Whirlpool Corporation, Mabe, Electrolux AB, LG Electronics and BSH Hausgerate GmbH are the major companies operating in the Mexico Home Appliances Market.
What years does this Mexico Home Appliances Market cover, and what was the market size in 2023?
In 2023, the Mexico Home Appliances Market size was estimated at USD 15.40 billion. The report covers the Mexico Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Home Appliances Industry Report
Statistics for the 2024 Mexico Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Home Appliances analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
