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Mexico Factory Automation and Industrial Controls Market
The Mexican factory automation and industrial controls market was valued at USD 1400.2 million in 2020, and it is expected to reach USD 2378.78 million by 2026
- The country is witnessing a significant boost in the automotive manufacturing industry, with Nissan, Honda, and Mazda, opening new high-volume facilities in the country, and a national vehicle production growth of over 7.5%.
- The exponential growth in the countryâ€™s manufacturing sector is the major driver for market growth. In 2017, nearly 16% of the countryâ€™s GDP came from manufacturing. Companies have witnessed a rise in the demand for catering to the manufacturing sector in the country, with the other countries in the region, like Brazil recovering from the economic crisis. For instance, Rockwell Automationâ€™s sales growth in 2017, in Latin America, was mixed, with growth led by Mexico and partially offset by decline across the rest of the LATAM region.
Key Market Trends
Robotics Segment to Hold Major Growth
Mexico is predominantly a production hub for car manufacturers and automotive parts suppliers that export to the United States, and increasingly to South America. At USD 2.45 trillion, Mexico is the fifteenth-largest global economy and home to 20 plus automotive assembly plants, including BMW, Mercedes, Audi, Ford, Chrysler, and Nissan.
They are putting more pressure on the local plants to increase the quality, get better safety, get better throughput, which is driving automation and robotics.
The Mexican manufacturing industry has propelled and digitalized significantly in recent years to enhance productivity, primarily owing to the automotive sector in the country, which is the seventh-largest maker of motor vehicles in the world. It produced more than 4.1 million units in 2017 or about 4.2% of the global production of 95.3 million units.
The Mexican factory automation and industrial controls market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with innovative and sustainable products and solutions, many of the companies are increasing their market presence by securing new contracts and by tapping into new markets. For instance, in Feb 2018, Honeywell announced a new solution for real-time safety monitoring of workers in the plant and remote operations.
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