Mexico Home Appliance Market Size & Growth Report and Forecast 2024-2032

According to the report by Expert Market Research (EMR), the Mexico home appliance market size reached a value of USD 15.34 billion in 2023. Aided by the changing consumer lifestyles, technological advancements, and shifting preferences towards convenience and efficiency, the market is projected to further grow at a CAGR of 3.9% between 2024 and 2032 to reach a value of USD 21.65 billion by 2032.

Urbanisation in Mexico is on the rise, with an increasing number of households in urban areas adopting modern lifestyles and embracing convenience-oriented home appliances. Rising disposable incomes, coupled with urban migration and economic development, are driving demand for a wide range of home appliances, including refrigerators, washing machines, air conditioners, and kitchen appliances.

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The adoption of smart home technology is gaining momentum in Mexico, with consumers seeking connected and intelligent home appliances that offer enhanced convenience, efficiency, and connectivity. Smart refrigerators with built-in cameras and touchscreen displays, intelligent washing machines with Wi-Fi connectivity, and voice-controlled kitchen appliances are becoming increasingly popular among tech-savvy consumers looking to streamline household chores and improve their quality of life, consequently driving up the Mexico home appliance market share.

With growing awareness of environmental issues and the need to conserve energy, there is a rising demand for energy-efficient and environmentally friendly home appliances in Mexico. Consumers are prioritising energy-saving features, eco-friendly materials, and sustainable manufacturing practices when selecting home appliances, driving manufacturers to innovate and develop products that meet stringent energy efficiency standards and eco-labelling requirements.

As urban living spaces become smaller and more compact, there is a growing emphasis on multi-functional and space-saving home appliances that offer versatility and flexibility in small living environments. Compact refrigerators, combination washer-dryers, and modular kitchen appliances that can perform multiple functions are gaining popularity among urban dwellers seeking to optimise space utilization without compromising on functionality or performance, leading to Mexico home appliance market growth.

The COVID-19 pandemic has underscored the importance of health and hygiene, leading to increased demand for home appliances equipped with advanced sanitization and disinfection features. Air purifiers with HEPA filters, steam sterilizers for baby bottles, and UV-C light sanitizers for household surfaces are in high demand as consumers prioritize cleanliness and germ-free environments within their homes.

The growth of e-commerce platforms and online retail channels has revolutionised the market, offering consumers greater convenience, choice, and accessibility to a wide range of products. Online retailers and digital marketplaces provide consumers with the flexibility to browse, compare, and purchase home appliances from the comfort of their homes, driving the adoption of online shopping channels for home appliance purchases.

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As per the Mexico home appliance market analysis, the regulatory environment for home appliances in Mexico is governed by federal and state-level regulations aimed at ensuring product safety, energy efficiency, and environmental sustainability. Manufacturers and retailers must comply with standards set by regulatory agencies such as the Ministry of Economy (SE), the National Institute of Standards and Technology (NIST), and the National Commission for Energy Efficiency (CONUEE) to market and sell home appliances in Mexico.

Mexico Home Appliance Market Segmentation

The market can be divided based on the product, price range, distribution channel, and region

Market Breakup by Product

Major Appliances
Air Conditioners
Refrigerators
Washing Machines
Dishwashing Machines
Freezers
Ovens
Others
Small Appliances
Vacuum Cleaners
Grills and Roasters
Food Processors
Coffee/Tea Makers
Others

Market Breakup by Price Range

Low
Medium
High

Market Breakup by Distribution Channel

Online
Offline

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 Mexico home appliance market. Some of the major players explored in the report by Expert Market Research are as follows:

Whirlpool Corporation
Samsung Electronics Co. Ltd.
LG Corp.
Electrolux AB
Panasonic Holdings Corp.
Robert Bosch GmbH
General Electric Company
Koninklijke Philips N.V.
Midea Group Co. Ltd.
Mabe, S.A. de C.V.
Others

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This release was published on openPR.