Mexico Household Appliances Market Outlook

The outlook for the mexican household appliances market over the 2018 to 2032 time period is very good. over the past decade, there has been a steady rise in demand for home appliances in mexico, as incomes rise and access to electrical grid connections increase. moreover, the country is also expected to benefit from increased public and private sector investments in infrastructure, as well as from free trade agreements, which will allow for greater import competition and a larger potential customer base. as of 2018, the mexican market for household appliances is valued at around 142 billion mexican pesos (mxn), and is expected to grow at a compound annual growth rate (cagr) of 3.6% to 223.6 billion mxn by 2032. this projected growth is due largely to the continued expansion of the middle class, as well as to the country’s improving economic outlook. mexico is also expected to benefit from increased tourism, as well as from rural electricity generation projects, both of which are expected to contribute to the growth of the appliances market. increasing urbanization is also expected to drive the demand for household appliances. as more people move to cities, the need for space-saving and energy-efficient appliances is expected to increase, particularly in mexico city and other major metropolitan areas. similarly, the growing trend of eco-friendly appliances is also expected to drive the demand, as consumers look for products that are environmentally friendly and efficient. in terms of the distribution network, the primary outlet for household appliance purchases in mexico is brick-and-mortar stores, though there has been an increasing switch to internet channels. this is attributed to the continued increase in internet penetration in the country, which means more mexicans are able to access online channels to purchase products. online channels also provide the added convenience of price comparison, product information and delivery services. overall, the outlook for the mexican household appliances market is positive, with steady growth expected to continue over the next decade thanks to a growing middle class and improved infrastructure. moreover, increasing urbanization, the growing demand for eco-friendly appliances, and the increasing trend of online purchasing are all expected to contribute to the market’s continued growth.