Mexico Home Appliances Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Mexico Home Appliances Market Report is Segmented by Major Appliances (Refrigerators, Freezers, Dishwashers, Washing Machines, Ovens, Air Conditioners, and Other Major Appliances), Small Appliances (Coffee and Tea Makers, Food Processors, Grills and Toasters, Vacuum Cleaners, and Other Small Appliances), and Distribution Channel (Mass Merchandisers, Exclusive Stores, Online, and Other Distribution Channels). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Mexico Home Appliances Market Size

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Mexico Home Appliances Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 15.45 Billion
Market Size (2029) USD 19.83 Billion
CAGR (2024 - 2029) 5.12 %
Market Concentration Low

Major Players

Mexico Home Appliances Market 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 15.45 billion in 2024, and is expected to reach USD 19.83 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).

The Mexican home appliances market has experienced significant expansion in recent years, propelled by factors such as urbanization, increasing disposable income, and changing consumer preferences. Home appliances are essential for day-to-day living activities and contribute to the overall comfort and convenience of households in Mexico.

One of the key drivers of the Mexican home appliances market is urbanization. As more people move to cities and urban areas, the demand for home appliances increases. Urban dwellers typically have smaller living spaces compared to rural areas and rely on appliances to optimize their living conditions. Compact and multifunctional appliances are particularly popular in urban households, catering to the needs of space-constrained consumers. Additionally, government initiatives aimed at promoting homeownership and infrastructure development contribute to the growth of the market, as new residential constructions often entail the installation of various home appliances.

Furthermore, environmental sustainability is becoming increasingly important in the Mexican home appliances market. With growing awareness of climate change and energy conservation, there is a growing demand for eco-friendly appliances that consume less energy and water. In order to meet this demand, manufacturers are creating energy-efficient models that carry eco-label certifications, such as ENERGY STAR.

Mexico Home Appliances Market Trends

Residential Boom and Changing Lifestyles Fueling the Mexican Home Appliances Market

  • The surge in residential construction and urbanization in Mexico is propelling the growth of the home appliances market. As new residential complexes and housing projects mushroom, the demand for appliances to furnish and equip these spaces is skyrocketing. The proliferation of apartment complexes in urban areas is driving the need for compact, space-saving appliances tailored for smaller living areas. Moreover, the middle class, buoyed by rising disposable incomes, is increasingly seeking home appliances that elevate comfort, convenience, and technological sophistication.
  • Mexican households, grappling with hectic schedules, are increasingly turning to time-saving appliances. Products like dishwashers, robotic vacuum cleaners, and automatic washing machines are coveted for their ability to streamline household chores and enhance time management. Technological advancements and connectivity are pivotal, as consumers gravitate towards appliances that can be remotely controlled, seamlessly integrated into smart home ecosystems, and boast energy efficiency.
  • Notably, home renovation and remodeling projects are also stoking appliance demand. Homeowners, keen on enhancing both functionality and aesthetics, are frequently upgrading appliances like refrigerators, ovens, and range hoods. Simultaneously, they are embracing smart home technologies to create modern, energy-efficient living spaces.
Mexico Home Appliances Market: Number of Housing Units Built in Mexico, in Thousands, 2019-2023

Major Appliances Dominate the Mexican Home Appliances Market, Driven by Refrigerators and Washing Machines

  • Major appliances, encompassing products like refrigerators, washing machines, dishwashers, ovens, and air conditioners, command a significant share in Mexico's home appliances market. Refrigerators and washing machines, playing pivotal roles in household activities, are particularly popular purchases. Given Mexico's climate, air conditioners are highly valued and essential for weathering hot spells. Notably, as major appliances increasingly sport features like Wi-Fi and Bluetooth, Mexicans gravitate toward smart models, appreciating the convenience of remote control and user-friendly interfaces.
  • While major appliances dominate, smaller counterparts like microwave ovens, vacuum cleaners, and kitchen appliances contribute significantly. These compact appliances cater to specific consumer needs and, in some cases, even carve out sizable market shares within their niches.
Mexico Home Appliances Market:Revenue Of Major Appliances in Mexico, In USD Billion, 2019-2023

Mexico Home Appliances Industry Overview

The Mexican home appliances market's competitive landscape is characterized by domestic and international players vying for market share. Some major players operating in Mexico's home appliance market are Whirlpool Corporation, Mabe, Electrolux AB, LG Electronics, and BSH Hausgerate GmbH. While multinational corporations dominate certain segments with their established brands and extensive distribution networks, local manufacturers also play a significant role, particularly in the production of small appliances and niche markets.

Mexico Home Appliances Market Leaders

  1. Whirlpool Corporation

  2. Mabe

  3. Electrolux AB

  4. LG Electronics

  5. BSH Hausgerate GmbH

*Disclaimer: Major Players sorted in no particular order

Mexico Home Appliances Market Concentration
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Mexico Home Appliances Market News

  • In January 2024, LG Electronics (LG) bolstered its manufacturing capabilities by inaugurating a state-of-the-art scroll compressor production line at its Monterrey facility in Mexico.
  • In April 2023, German engineering and technology firm, Robert Bosch, known for its production of domestic appliances, had initially earmarked USD 75.3 million for its Aguascalientes operations in Mexico. However, the company has now decided to ramp up its investment, committing a substantial USD 258.2 million to the facility.

Mexico Home Appliances Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS AND INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Disposable Income

      2. 4.2.2 Urbanization and Rising Demand for Residential Housing

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Maintenance

      2. 4.3.2 Lack of Consumer Trust in Online Sales

    4. 4.4 Market Opportunities

      1. 4.4.1 Introduction of Innovative and Eco-friendly Appliances

      2. 4.4.2 Growing Trend Toward Smart Homes

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitutes

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Technological Innovations in Mexico Home Appliance Market

    7. 4.7 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Major Appliances

      1. 5.1.1 Refrigerators

      2. 5.1.2 Freezers

      3. 5.1.3 Dishwashing Machines

      4. 5.1.4 Washing Machines

      5. 5.1.5 Ovens

      6. 5.1.6 Air Conditioners

      7. 5.1.7 Other Major Appliances

    2. 5.2 By Small Appliances

      1. 5.2.1 Coffee/Tea Makers

      2. 5.2.2 Food Processors

      3. 5.2.3 Grills and Toasters

      4. 5.2.4 Vacuum Cleaners

      5. 5.2.5 Other Small Appliances

    3. 5.3 By Distribution Channel

      1. 5.3.1 Mass Merchandisers

      2. 5.3.2 Exclusive Stores

      3. 5.3.3 Online

      4. 5.3.4 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Analysis

    2. 6.2 Company Profiles

      1. 6.2.1 Whirlpool Corporation

      2. 6.2.2 Electrolux AB

      3. 6.2.3 LG Electronics

      4. 6.2.4 Samsung Electronics

      5. 6.2.5 Panasonic Corporation

      6. 6.2.6 Hisense

      7. 6.2.7 Black and Decker

      8. 6.2.8 Mabe

      9. 6.2.9 Daewoo Electronics Mexico

      10. 6.2.10 Midea

      11. 6.2.11 BSH Hausgerate GmbH*

    3. *List Not Exhaustive
  7. 7. FUTURE MARKET TREND

  8. 8. DISCLAIMER AND ABOUT US

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Mexico Home Appliances Industry Segmentation

The Mexican home appliance market is segmented by major appliances, small appliances, and distribution channels. By major appliances, the market is segmented into refrigerators, freezers, dishwashing machines, washing machines, ovens, air conditioners, and other major appliances. By small appliances, the market is segmented into coffee and tea makers, food processors, grills, toasters, vacuum cleaners, and other small appliances. By distribution channels, the market is segmented into mass merchandisers, exclusive stores, online, and other distribution channels. The report offers market size and forecasts in value (USD) for all the above segments.

By Major Appliances
Refrigerators
Freezers
Dishwashing Machines
Washing Machines
Ovens
Air Conditioners
Other Major Appliances
By Small Appliances
Coffee/Tea Makers
Food Processors
Grills and Toasters
Vacuum Cleaners
Other Small Appliances
By Distribution Channel
Mass Merchandisers
Exclusive Stores
Online
Other Distribution Channels
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Mexico Home Appliances Market Research FAQs

The Mexico Home Appliances Market size is expected to reach USD 15.45 billion in 2024 and grow at a CAGR of 5.12% to reach USD 19.83 billion by 2029.

In 2024, the Mexico Home Appliances Market size is expected to reach USD 15.45 billion.

Whirlpool Corporation, Mabe, Electrolux AB, LG Electronics and BSH Hausgerate GmbH are the major companies operating in the Mexico Home Appliances Market.

In 2023, the Mexico Home Appliances Market size was estimated at USD 14.66 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.

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Mexico Home Appliances Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)