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Mexico Remote Control Products-Hobby Market Segmentation by Product (RC Car, Plane, Truck, Helicopter, Drone, and Bike, and Others); by Age Group (Below 18 Years, 18-34 Years, 35-54 Years, and Above 54 Years); by Power Type (Electric, Nitro, Gas, and Others); and by Distribution Channel (Offline, and Online) – Demand Analysis & Opportunity Outlook 2020-2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • December 22, 2020: Redcat Racing announced that it has re-released the 2-wheel drive RC truggy, Redcat Piranha. The RC vehicle includes a 7.2V 2000mAh NiMH rechargeable battery pack, along with a 2.4GHz radio transmitter and 2.4GHz receiver/ESC 2-in-1 combo unit.

  • June 24, 2021: Tamiya USA announced that it has launched its brand new 1/10 RC 4WD off-road buggy model, whose dimensions are 338mm in length, 124mm in height, and 246mm in width.

Mexico Remote Control Products-Hobby Market Highlights Over 2020 - 2030

The Mexico remote control products-hobby market is estimated to garner a revenue of USD 140.79 Million by the end of 2030 by growing at a CAGR of 2.16% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market in the country registered a revenue of USD 113.81 Million. The growth of the market can be attributed to the growing millennial population in the country, and therefore the increasing demand for remote control toys amongst these population. Besides this the growing household disposable of individuals which is contributing to the rising consumption of non-essential goods in the country, are also anticipated to contribute to the market growth during the forecast period.

Mexico Remote Control Products-Hobby Market Graph

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The remote-controlled products have recently garnered tremendous interest from the millennial generation in Mexico, backed by the rapid surge in technology of these toys. Moreover, a large number of millennial populations, which is growing at a steady pace, are spending money on buying hobby-grade models, which is also one of the major factors anticipated to drive the market growth in the coming years. According to the statistics by the National Institute of Statistics and Geography (INEGI), the percentage of male population in Mexico aged 15-19, 20-24, 25-29, and 30-34 in the year 2020 were 4.3%, 4.1%3.9%, and 3.6% respectively, while that of female population were 4.3%, 4.2%, 4.1%, and 3.9% respectively.

Total Population Graph

Besides this, the increasing development of local race tracks which is allowing users of hobby-grade radio control (RC) products to participate in different hobby-based competitions and community games, followed by the rising popularity of drones in the recent years, supported by the increasing advancements in flight technology, and the surge in availability of new RC products are some of the key opportunities and market trends expected to contribute to the market growth in the coming years.

Growth Drivers and Challenges Impacting the Growth of the Mexico Remote Control Products-Hobby Market

Growth Drivers

  • Increasing Millennial Population in Mexico
  • Rising Household Disposable Income

Challenges

  • Stringent Government Regulations for RC Products

Mexico Remote Control Products-Hobby Market Segmentation Synopsis

The remote control products market in Mexico is segmented by product into RC car, RC plane, RC truck, RC helicopter, RC drone, RC bike, and others. Out of these, the RC car segment is anticipated to hold the largest revenue of USD 50.54 Million by the end of 2030, up from a revenue of USD 40.74 Million in the year 2020. The market is further segmented by age group into below 18 years, 18-34 years, 35-54 years, and above 54 years. Out of these, the 18-34 years segment is expected to attain the largest revenue of USD 65.62 Million by the end of 2030 and further grow with the highest CAGR of 2.32% during the forecast period. By power type, the market is segmented into electric, nitro, gas, and others. Out of these, the electric segment is anticipated to grow with the highest CAGR of 2.32% during the forecast period and further attain the largest revenue of USD 86.45 Million by the end of 2030. By distribution channel, the market is segmented into offline, and online. Out of these, the offline segment is projected to hold the highest market share by the end of 2030, and also grow with the highest CAGR of 2.19% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Mexico remote control products-hobby market that are included in our report are Redcat Racing, Kyosho America, Traxxas, Silverlit Toys Manufactory Ltd., Tamiya USA, Artsana S.p.A., DJI, HPI Racing A/S, Horizon Hobby, LLC, and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

Mexico Remote Control Products-Hobby Market TOC

  1. Market Definition
    1. Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
    4. Market Size Estimation
  4. Executive Summary – Mexico Remote Control Products-Hobby Market
  5. Market Dynamics
    1. Market Drivers
    2. Market Trends
  6. Key Market Opportunities
  7. Major Roadblocks for the Market Growth
  8. Regulatory and Standards Landscape
  9. Industry Value Chain Analysis
  10. Industry Risk Analysis
  11. Impact of COVID-19 on the Mexico Remote Control Products-Hobby Market (2020-2030)
  12. Competitive Landscape
    1. Market share Analysis, 2020
    2. Company Profiles
      1. Redcat Racing
      2. Kyosho America
      3. Traxxas
      4. Silverlit Toys Manufactory Ltd.
      5. Tamiya USA
      6. Artsana S.p.A.
      7. DJI
      8. HPI Racing A/S
      9. Horizon Hobby, LLC
  13. Mexico Remote Control Products-Hobby Market 2020-2030
    1. Market Overview
    2. By Value (USD Million)
  14. Mexico Remote Control Products-Hobby Market - Segmentation Analysis 2020-2030
    1. Product
      1. RC Car, 2020-2030F (USD Million)
      2. RC Plane, 2020-2030F (USD Million)
      3. RC Truck, 2020-2030F (USD Million)
      4. RC Helicopter, 2020-2030F (USD Million)
      5. RC Drone, 2020-2030F (USD Million)
      6. RC Bike, 2020-2030F (USD Million)
      7. Others, 2020-2030F (USD Million)
    2. Age Group
      1. Below 18 Years, 2020-2030F (USD Million)
      2. 18-34 Years, 2020-2030F (USD Million)
      3. 35-54 Years, 2020-2030F (USD Million)
      4. Above 54 Years, 2020-2030F (USD Million)
    3. Power Type
      1. Electric, 2020-2030F (USD Million)
      2. Nitro, 2020-2030F (USD Million)
      3. Gas, 2020-2030F (USD Million)
      4. Others, 2020-2030F (USD Million)
    4. Distribution Channel
      1. Offline, 2020-2030F (USD Million)
      2. Online, 2020-2030F (USD Million)
  15. Analyst Review

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