Mexico Remote Control Products-Hobby Market Projected To Gro...| MENAFN.COM

Wednesday, 06 July 2022 12:18 GMT

Mexico Remote Control Products-Hobby Market Projected To Grow At A CAGR Of 2.16% During 2021-2030

(MENAFN- America News Hour)

Research Nester has released a report titled Mexico Remote Control Products-Hobby Market : Demand Analysis & Opportunity Outlook 2030 which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

The percentage of male population aged 15-19, 20-24, 25-29, and 30-34 in Mexico 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, according to the statistics by the National Institute of Statistics and Geography (INEGI).

The statistics portray the growing millennial population in Mexico, amongst whom the interests for remote-controlled toys is growing at a significant pace. Moreover, the increasing awareness for these toys amongst the younger generation, followed by the development of several local race tracks for organizing community games amongst the toy owners, are also some of the major factors attributed to the market growth.

The Mexico remote control products-hobby market is estimated to garner a revenue of USD 140.79 Million by the end of 2030, and further grow with a CAGR of 2.16% over the forecast period, i.e., 2021 – 2030. In the year 2020, the market in the country registered a revenue of USD 113.81 Million. The market is segmented by product into RC car, RC plane, RC truck, RC helicopter, RC drone, RC bike, and others. Amongst these, in the year 2020, the RC car segment generated the largest revenue of USD 40.74 Million, and is further projected to touch USD 50.54 Million by the end of 2030.

The Mexico remote control products-hobby market is also segmented by age group into below 18 years, 18-34 years, 35-54 years, and above 54 years. Amongst these, the 18-34 years segment is expected to attain the largest revenue of USD 65.62 Million by the end of 2030, by growing with the highest CAGR of 2.32% during the forecast period.

However, the stringent government regulations for RC products is one of the major factors predicted to hinder the market growth in the coming years.

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This report also provides the existing competitive scenario of some of the key players of the Mexico remote control products-hobby market, which includes company profiling of 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.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Mexico Remote Control Products-Hobby Market: Demand Analysis & Opportunity Outlook 2030” , analyses the overall Mexico remote control products-hobby industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Mexico remote control products-hobby market in the near future.

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