Mexico Factory Automation and Industrial Controls Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Mexican Factory Automation and Industrial Controls Market was valued register a CAGR of approximately 8.5% over the forecast period (2021-2026). Attributed to the outbreak of coronavirus, the region witnessed supply chain disruption due to imposed global lockdown. On the other hand, there was an increase in demand for factory automation by various industry verticals including manufacturing to ensure efficient operation of facilities and maintain employee and worker's health.
Key HighlightsThe Mexican factory automation and industrial controls market is moving towards fragmentation 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.
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