Mexico White Goods Market Outlook
According to the report by Expert Market Research (EMR), the Mexico white goods market size reached a value of USD 11.25 billion in 2023. Aided by increasing urbanisation, the growth in housing infrastructure, and a rising middle-class population with elevated purchasing power, the market is projected to further grow at a CAGR of 4.1% between 2024 and 2032 to reach a value of USD 16.07 billion by 2032.
White goods encompass a range of large household electrical appliances, including refrigerators, washing machines, dishwashers, air conditioners, and stoves. These appliances are pivotal in modernizing households and elevating the convenience and comfort of everyday life. Recognizable by their white or stainless-steel exteriors, these sturdy appliances serve as indispensable utilities in today’s fast-paced, convenience-oriented society.
According to the analysis of the white goods market in Mexico, the country has experienced a notable surge in demand for these appliances, driven by robust industrial growth and escalating urbanization. With the expansion of cities and an increase in disposable income among households, there’s a growing aspiration for improved living standards and the adoption of technologically advanced products, propelling the white goods market to new heights.
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One driving force behind the surge in Mexico white goods market expansion is the country’s thriving real estate sector. The surge in residential projects, comprising independent houses and apartments, has significantly heightened the demand for white goods to furnish these newly built homes. New homeowners, many of whom are millennials, prefer homes that are well-equipped with modern appliances, ensuring a steady demand.
Moreover, technological progress in white goods is pivotal in driving the growth of the Mexican market for these appliances. 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 boosted the Mexico white goods market share.
Consumers increasingly seek appliances that align with their individual preferences and lifestyle needs. Manufacturers offer customisation and personalization options, such as colour choices, finish options, and modular configurations, allowing consumers to create bespoke solutions that reflect their unique tastes and requirements.
As per the Mexico white goods market outlook, modular and upgradeable appliance designs are gaining popularity, allowing consumers to customise and expand their appliances’ functionality over time. Modular components, interchangeable accessories, and software upgrades enable appliances to adapt to changing household needs and technological advancements, extending their lifespan and value.
Consumers in Mexico are increasingly seeking multi-functional appliances that offer versatility and flexibility in their daily household tasks. Multi-functional appliances, such as combination washer-dryers, refrigerator-freezer combos, and microwave ovens with convection cooking capabilities, save space and provide convenience by performing multiple functions in one unit.
Sustainability is a growing concern among consumers, leading to an increased focus on eco-friendly materials and manufacturing practices in the white goods market in Mexico. Manufacturers are using recycled materials, reducing packaging waste, and implementing energy-efficient production processes to minimise their environmental footprint and appeal to environmentally conscious consumers. These trends reflect the evolving preferences, needs, and technological advancements driving innovation in the white goods sector in Mexico.
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Mexico White Goods Market Segmentation
The market can be divided based on product, end use, distribution channel, and region.
Market Breakup by Product
- Air Conditioner
- Window AC
- Split AC
- Refrigerator
- Single Door
- Double Door
- Side by Side
- Others
- Washing Machine
- Fully Automatic
- Semi-Automatic
- Dishwasher
- Built-in Dishwashers
- Portable Dishwashers
- Microwave Oven
- Convection
- Solo
- Grill
- Others
Market Breakup by End use
- Residential
- Commercial
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Electronic Stores
- Online
- Others
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
Competitive Landscape
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.
- Others
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