The market is dominated by domestic suppliers, as imports account for 45.0% of total market size in 2022. Households drive market demand, with household spending representing 98.5% of total demand in 2022. Mexico has the second largest market size for musical instruments regionally, with demand reaching USD198 million in 2022. Taylor Musical Instruments de Mexico Srl is the largest company in Mexico, generating 16.9% of the industry’s total production value in 2022. The industry is fragmented, with the top three companies generating 29.5% of total production value in 2022. The total number of companies decreases in 2022, to 2,428 units. The costs of the industry decrease by 1.2% in 2022, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 42.6% of production value in 2022, the highest regionally. The industry’s exports share decreases in 2022 to 1.9% of total production output. With production value of USD90.9 million, Mexico accounts for 23.6% of the Latin America total in 2022.
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This Euromonitor industrial report provides unique information on Musical Instruments in Mexico: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in Mexico: ISIC 3692 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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