Mexico Small Home Appliances Market Size
|Study Period||2019 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
|CAGR||> 3.00 %|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mexico Small Home Appliances Market Analysis
Healthy food eating habits and lifestyle changes in Mexico are making small home appliances grow in the past few years. Growth in the market is driven by rising purchasing power, middle-income households, and rising demand for robotic vacuum cleaners and small kitchen appliances. Sales through the wholesale channel of distribution are leading to growth in the market. Walmart de Mexico, Costco de Mexico, El Puerto de Liverpool SAB de CV, El Palacio de Hierro, Sanborns de Mexico SAB de CV, and Sears Roebuck de México are some of the major online retail channels in Mexico.The smart appliances segment of small appliances is also eventually driving the growth of the market through an increase in the number of smart homes. Brands such as Hamilton Beach and Proctor-Silex, present in the market has a good distribution network.Mexican have coffee cultures and thus there is a rise in the consumption of coffee and coffee makers in the market. Coffee is consumed by many people to wake up in the morning, as a digestive after meals and sometimes during the afternoon as a refreshing drink during a relaxing moment. Small domestic appliances that are connected with the internet and systems are gaining traction in the market.
The consumers in the market are searching for products that make their life easy and daily activities easier such as cooking, cleaning, and laundry tasks. The online channel of distribution currently has demand for small home appliances due to COVID -19 impact and is seeing an increase in sales in the market. The Covid 19 pandemic has changed buyers' and consumers' behaviors worldwide. As people have been forced to spend more time at home due to home office, digital classes, and lockdown measures, they started to use their kitchens more frequently. Often, households noticed a lack of or the need to renew home appliances, which was very beneficial for electro domestic manufacturers and their providers. Small home appliances are driven by growth in increasing smart homes in the country along with rising internet users. Sustainable and eco-friendly appliances are preferred by consumers due to the rising awareness about environmental effects and costs associated with it.
Mexico Small Home Appliances Market Trends
This section covers the major market trends shaping the Mexico Small Home Appliances Market according to our research experts:
Urbanization in Mexico is Driving the Demand for Small home Appliances
Mexico has emerged as the Latin America's small home appliances market. Mexico has a majority of the population between 15 and 64 years of age group. The rising population of Mexico and the increase in the urban population increased the demand for small home appliances such as Vacuum Cleaners, Coffee Machines, Food Processors etc., The urbanization of the population is also expected to increase the sale of smart major appliances including high-end appliances. There is a rise in the sales of small kitchen appliances in the Mexican Small Home Appliance Market. Small home appliances and Small Kitchen appliances will further augment the growth of the market. Small Kitchen appliances hold the majority share in the market.
To understand key trends, Download Sample Report
Smart Homes Driving the Growth of Small Home Appliances in Mexico
Mexicans are interested in buying smart home devices that can be controlled via a smartphone or an internet connection. Smart homes and the IoT era are leading to the changed house equipment into being more intelligent, remotely controllable, and interconnected.
Smart homes are on the rise in Mexico because of which small domestic appliances penetration in Mexico is expected to rise. Smart small appliances with additional features and as per the convenience of the customer's diet and a healthy lifestyle are gaining traction in the market.
Mexico Small Home Appliances Industry Overview
Mexico Small Home Appliances market is comprised of local and foreign players present in the market. Internet retailing is gaining popularity in the market along with manufacturers developing an omnichannel strategy to develop small appliance purchases. Major players in the market include Bosch, Mabe, S.A. de C.V. Av., Panasonic de Mexico S.A. de C.V., Fischer E Paykel Appliances Inc., etc.
Mexico Small Home Appliances Market Leaders
Mabe, S.A. de C.V. Av.
Fischer E Paykel Appliances Inc.
Hamilton Beach Brands, Inc.
*Disclaimer: Major Players sorted in no particular order
Mexico Small Home Appliances Market News
- In March 2022, the German BSH Group, a subsidiary of Bosch, as well as the Chinese Hisense Group, announced the construction of new home appliance plants in the state of Nuevo Leon, each investing USD 260 Mio. With an increase in demand, international companies began investing heavily in their Mexican locations or even opening new ones.
Mexico Small Home Appliances Market Report - Table of Contents
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
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Vacuum Cleaners
5.1.3 Hair Dryers
5.1.4 Grills & Roasters
5.1.5 Coffee Machines
5.1.7 Food Processors
5.1.8 Tea Machines
5.1.9 Other Small Home Appliances*
5.2 By Distribution Channel
5.2.1 Specialty Stores
5.2.3 Multi branded stores
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Panasonic de Mexico S.A. de C.V.
6.2.2 Fischer E Paykel Appliances Inc.
6.2.3 Mabe, S.A. de C.V. Av
6.2.4 AB Electrolux
6.2.5 Panasonic Corporation
6.2.6 BSH Hausgerate GmbH
6.2.7 Diehl Controls
6.2.8 Hamilton Beach Brands,
6.2.9 Daewoo Electronics Mexico
6.2.10 Grupo HB PS
6.2.11 LG Electronics*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Mexico Small Home Appliances Market Research FAQs
What is the current Mexico Small Home Appliances Market size?
The Mexico Small Home Appliances Market is projected to register a CAGR of greater than 3% during the forecast period (2023-2028).
Who are the key players in Mexico Small Home Appliances Market?
Bosch, Mabe, S.A. de C.V. Av., Fischer E Paykel Appliances Inc., Hamilton Beach Brands, Inc. and Panasonic Corporation are the major companies operating in the Mexico Small Home Appliances Market.
Mexico Small Home Appliances Industry Report
Statistics for the 2023 Mexico Small Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Small Home Appliances analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.