The market is dominated by domestic suppliers, as imports account for 43.2% of total market size in 2023. Households drive market demand, with household spending representing 98.4% of total demand in 2023. Mexico has the second largest market size for musical instruments regionally, with demand reaching USD207 million in 2023. Yamaha de México SA de CV is the largest company in Mexico, generating 37.8% of the industry’s total production value in 2023. The industry is concentrated, with the top four companies generating 66.4% of total production value in 2023. The total number of companies decreases in 2023, to 2,439 units. The costs of the industry increase by 13.1% in 2023, largely driven by rising B2B costs. The industry’s profitability increases and stands at 39.0% of production value in 2023, the highest regionally. The industry’s exports share increases in 2023 to 4.6% of total production output. With production value of USD104 million, Mexico accounts for 26.3% of the Latin America total in 2023.
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This Euromonitor industrial report provides unique information on Musical Instruments in Mexico: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in Mexico: ISIC 3692 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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