During 2018, the Mexican economy experienced a period of instability and uncertainty due the renegotiation of NAFTA and political changes due to presidential elections and voting in some state government areas during summer. The exchange value of the Mexican peso against the US dollar also fluctuated and declined over the course of the year, affecting import taxes and production costs and increasing the price of materials such as petroleum and steel and various components used in the production of consumer appliances.
Despite the uncertain economic environment, consumer appliances in Mexico continued to register positive growth in 2018, with major appliances marginally ahead of small appliances in terms of annual sales growth rates, although overall sales of small appliances vastly outnumbered sales of major appliances in actual terms. Value growth rates were considerably higher than volume growth rates during the year and this was mainly the result of unit price increases.
Controladora Mabe remained the leading player in major appliances in 2018. The Mexican manufacturer continues to benefit from its longstanding presence and reputation for offering high-quality appliances at attractive prices.
Mexican consumers are becoming more connected and a growing proportion of homes now have internet connections. In addition, the high penetration of smartphones is also supporting the expansion of the connected population.
The forecast period is expected to see sales of consumer appliances continue to register positive sales trends and this is not least because major appliances categories such as large cooking appliances and refrigeration appliances are generally considered to be basic items that are essential in all homes. At the same time, many small appliances are used on a daily basis in Mexican homes.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in Mexico with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Appliances market research database.