The market is dominated by foreign suppliers, as imports account for 60.0% of total market size in 2022. Households drive market demand, with household spending representing 49.8% of total demand in 2022. Mexico has the second largest market size for furniture regionally, with demand reaching USD11.9 billion in 2022. Lear Corp México SA de CV is the largest company in Mexico, generating 66.3% of the industry’s total production value in 2022. The industry is concentrated, with the top five companies generating 71.7% of total production value in 2022. The total number of companies increases in 2022, to 116,842 units. The costs of the industry increase by 4.8% in 2022, largely driven by rising labour costs. The industry’s profitability decreases and stands at 30.0% of production value in 2022, the highest regionally. The industry’s exports share decreases in 2022 to 54.5% of total production output. With production value of USD9.3 billion, Mexico accounts for 26.1% of the Latin America total in 2022.
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This Euromonitor industrial report provides unique information on Furniture in Mexico: ISIC 361. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Furniture in Mexico: ISIC 361 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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