Mexico White Goods Market Report and Forecast 2023-2028
According to the report by Expert Market Research (EMR), the Mexico white goods market is projected to grow at a CAGR of 3.8% between 2023 and 2028. Aided by the increasing urbanisation, the growth in housing infrastructure, and a rising middle-class population with elevated purchasing power, the market is expected to grow significantly by 2028.
White goods refer to large household electrical appliances such as refrigerators, washing machines, dishwashers, air conditioners, and stoves. They play an integral role in modernising homes and improving the convenience and comfort of daily life. Characterised by their white or stainless-steel finish, these durable goods are essential utilities in today's fast-paced, convenience-driven society.
As per the Mexico white goods market analysis, the country, with its robust industrial growth and escalating urban development, has witnessed a significant uptick in the demand for white goods. As cities expand and households enjoy increased disposable income, the desire for enhanced living standards and the adoption of technologically advanced products have propelled the white goods market forward.
One driving force behind the surge in Mexico white goods market demand is the country's thriving real estate sector. With a rise in residential projects, both in the form of independent houses and apartments, the need for white goods to equip these new homes has grown manifold. New homeowners, many of whom are millennials, prefer homes that are well-equipped with modern appliances, ensuring a steady demand.
Furthermore, technological advancements in white goods are playing a pivotal role in Mexico white goods market growth. Smart appliances, embedded with the Internet of Things (IoT), offer advanced features like remote control through smartphones, energy efficiency, and self-diagnosis. This integration of technology resonates well with the tech-savvy Mexican population, further propelling the demand.
The easy availability of consumer financing options in Mexico has also contributed significantly. Many financial institutions now offer attractive EMI schemes and credit facilities, making it more feasible for consumers to purchase high-end white goods without feeling the financial strain.
Additionally, Mexico's strategic location and its participation in the North American Free Trade Agreement (NAFTA) have made it an attractive hub for white goods manufacturers and further add value to the Mexico white goods market size.
The market can be divided based on product, end use, distribution channel, and region.
Market Breakup by Product
- Air Conditioner
- Window AC
- Split AC
- Single Door
- Double Door
- Side by Side
- Washing Machine
- Fully Automatic
- Built-in Dishwashers
- Portable Dishwashers
- Microwave Oven
Market Breakup by End use
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Electronic Stores
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Mexico white goods market. Some of the major players explored in the report by Expert Market Research are as follows:
- Mabe, S.A. de C.V.
- Whirlpool México
- Electrolux Comercial, SA de CV
- Samsung Electronics México
- Robert Bosch México
- LG México
- Carrier Mexico S.A. de C.V.
- Daikin México
- Hamilton Beach Brands, Inc.
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.