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Mexico Washing Machine Market Overview
Mexico washing machine market witnessed steady growth in the previous few years on account of the country’s rapidly growing urban population and expansion of real estate and hospitality sectors. The market initially experienced growth in the year 2020 on account of the COVID-19 pandemic outburst, which created fear among the people regarding the spread of infection and resulted in increased wash frequencies. However, the market eventually declined as manufacturing operations were halted and disruptions in the supply chain and international trade limited production.
According to 6Wresearch, Mexico Washing Machine Market revenue size is projected to grow at a CAGR of 7.7% during 2022-2028. The washing machine market in Mexico is likely to experience significant growth during the forecast period on account of the rising middle-class population and ongoing construction of new housing development and hotel projects. Additionally, the country has a robust textile and clothing industry and the rising fast fashion trend is leading to the growing demand for clothes which is further propelling the usage of washing machines in households.
Market by Region Analysis
By regions, the Central region garnered the majority revenue share for the year 2021 as the region accounts for almost half of the country’s population with highest number of inhabitants residing in Mexico City. New real estate and hospitality developments in the states of Guadalajara, Queretaro, and others in the central region are expected to generate demand for washing machines in the forthcoming years.
Key Highlights of the Report
- Mexico Washing Machine Market Overview
- Mexico Washing Machine Market Outlook
- Mexico Washing Machine Market Forecast
- Covid-19 Impact on Mexico Washing Machine Market
- Mexico Washing Machine Market Drivers and Restraints
- Mexico Washing Machine Market Trends
- Mexico Washing Machine Market Porters Five Forces
- Mexico Washing Machine Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
- Historical Data and Forecast of Mexico Washing Machine Market Revenues and Volume, for the Period 2018-2028F
- Historical Data and Forecast of Mexico Washing Machine Market Revenues, By Applications, for the Period 2018-2028F
- Historical Data and Forecast of Mexico Washing Machine Market Revenues, By Regions, for the Period 2018-2028F
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