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Mexico - Static Converters - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMexico's Static Converter Imports Surge by 8%, Hitting a Record $3.7 Billion in 2023
Mexico Static Converter Imports
For the third consecutive year, Mexico recorded growth in purchases abroad of static converters, which increased by 1.5% to 344M units in 2023. Overall, imports showed resilient growth. The pace of growth appeared the most rapid in 2022 with an increase of 49% against the previous year. Imports peaked in 2023 and are likely to continue growth in the immediate term.
In value terms, static converter imports reached $3.7B (IndexBox estimates) in 2023. Over the period under review, total imports indicated buoyant growth from 2013 to 2023: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by +114.0% against 2013 indices. The pace of growth was the most pronounced in 2022 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the near future.
COUNTRY | Import Value of Static Converter in Mexico (million USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
China | 902 | 931 | 1,076 | 1,146 | 1,155 | 1,159 | 1,237 | 1,229 | 1,473 | 1,849 | 1,732 |
United States | 332 | 334 | 371 | 370 | 389 | 371 | 368 | 326 | 443 | 535 | 666 |
Thailand | 79.6 | 62.9 | 141 | 143 | 151 | 147 | 209 | 202 | 227 | 283 | 380 |
Vietnam | 0.1 | 4.2 | 1.8 | 14.2 | 10.2 | 35.2 | 48.9 | 66.2 | 75.8 | 106 | 165 |
Taiwan (Chinese) | 34.6 | 48.4 | 30.0 | 32.9 | 25.9 | 30.7 | 30.5 | 39.6 | 52.7 | 74.4 | 138 |
Philippines | 70.9 | 78.9 | 85.1 | 89.6 | 93.8 | 95.5 | 141 | 135 | 118 | 131 | 107 |
Malaysia | 19.3 | 17.7 | 17.0 | 16.5 | 13.8 | 14.6 | 16.3 | 15.3 | 76.8 | 103 | 105 |
Germany | 38.4 | 37.6 | 34.7 | 39.1 | 61.6 | 56.5 | 52.9 | 46.0 | 56.2 | 52.8 | 69.4 |
Japan | 34.2 | 53.3 | 34.9 | 35.9 | 36.9 | 99.1 | 100 | 58.3 | 42.4 | 34.3 | 43.2 |
South Korea | 85.6 | 105 | 95.2 | 82.6 | 77.7 | 76.5 | 58.1 | 41.0 | 53.9 | 50.0 | 24.4 |
Others | 144 | 146 | 158 | 147 | 188 | 247 | 246 | 191 | 163 | 220 | 297 |
Total | 1,741 | 1,819 | 2,045 | 2,118 | 2,202 | 2,332 | 2,507 | 2,349 | 2,781 | 3,440 | 3,727 |
Imports by Country
In 2023, China (279M units) constituted the largest static converter supplier to Mexico, with a 81% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, the United States (13M units), more than tenfold. The third position in this ranking was held by Vietnam (12M units), with a 3.5% share.
From 2013 to 2023, the average annual growth rate of volume from China stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.9% per year) and Vietnam (+111.4% per year).
In value terms, China ($1.7B) constituted the largest supplier of static converters to Mexico, comprising 46% of total imports. The second position in the ranking was held by the United States ($666M), with an 18% share of total imports. It was followed by Thailand, with a 10% share.
From 2013 to 2023, the average annual growth rate of value from China totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.2% per year) and Thailand (+16.9% per year).
Import Prices by Country
In 2023, the static converter price stood at $11 per unit (CIF, Mexico), growing by 6.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $12 per unit in 2021; however, from 2022 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($51 per unit), while the price for China ($6.2 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the static converter market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 27115023 -
- Prodcom 27115030 - Rectifiers (excluding of a kind used with telecommunication apparatus, automatic data-processing machines and units thereof)
- Prodcom 27115033 - Accumulator chargers
- Prodcom 27115035 -
- Prodcom 27115040 - Power supply units for telecommunication apparatus, a utomatic data-processing machines and units thereof
- Prodcom 27115053 - Inverters having a power handling capacity . 7,5 kVA
- Prodcom 27115055 - Inverters having a power handling capacity > 7,5 kVA
- Prodcom 27115070 - Static converters (excluding polycrystalline semiconductors, c onverters specially designed for welding, without welding equipment, accumulator chargers, rectifiers, inverters)
- Prodcom 27904130 -
- Prodcom 27904140 -
- Prodcom 27904153 -
- Prodcom 27904155 -
- Prodcom 27904170 -
- Prodcom 27904190 -
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023