Mexico stands today as one of the most dynamic and diversified economies in the world. Its industrial landscape is a testament to decades of strategic development, skilled workforce cultivation, and deep integration into global supply chains. Starting a business in Mexico is becoming increasingly attractive, and the IMMEX program is usually the target.
Consequently, for international companies and investors evaluating their next strategic move, understanding the key industries in Mexico is the first step toward uncovering immense opportunity. This report provides a data-rich summary of the six primary sectors that not only anchor the nation’s economy but also drive its future growth.
First and foremost, the automotive industry represents the undisputed engine of Mexican manufacturing. For years, the country has solidified its position not merely as a participant but as a global leader in vehicle and auto parts production. As a result, Mexico is currently the 4th largest vehicle exporter globally, demonstrating its critical role in the world’s automotive trade.
The scale of production is truly impressive. For instance, in 2024 alone, total automobile production in Mexico reached 3,989,403 units, which marks a significant 5.56% increase over the previous year. This output is overwhelmingly focused on light vehicles, which constitute over 95% of total production. In addition to finished vehicles, Mexico is the 4th largest producer of autoparts in the world, with a vast supply chain feeding assembly plants both domestically and abroad. In fact, this sector accounts for nearly 50% of the country’s manufacturing GDP in key regions like the Bajío.
Furthermore, the industry is rapidly adapting to new technologies. Specifically, the production of Electric Vehicles (EVs) is surging. In 2024, prominent companies like Ford, General Motors, and BMW produced more than 200,000 electric vehicles in Mexico. This transition highlights the country’s capacity for high-technology manufacturing. Ultimately, the combination of a skilled workforce of over 145,000 employees in key automotive states and deep integration with the U.S. market solidifies this industry’s top position.
Beyond the automotive sector, Mexico’s aerospace industry has quietly become a global force. The country has methodically built a sophisticated ecosystem for producing complex aerospace components, consequently ranking 12th worldwide in the industry. This sector has experienced a remarkable 14% average annual growth rate over the past 15 years, a clear indicator of its dynamism and strategic importance.
The financial metrics are equally compelling. For example, Mexico’s aerospace market is projected to grow from USD 2.58 billion in 2024 to USD 2.96 billion by 2029. Moreover, the Mexican Federation of the Aerospace Industry (FEMIA) projects that the market’s value will more than double to reach USD 22.7 billion by 2029, driven by an aggressive annual growth rate of over 15%. This rapid expansion is supported by a highly skilled workforce, with the industry currently providing approximately 60,000 direct jobs.
This growth is heavily concentrated in specialized hubs. For instance, the state of Querétaro has become a major center with leading aerospace training institutions, while Chihuahua and Sonora are leaders in advanced manufacturing and component production. As a result of strong government support and increasing foreign investment, the aerospace sector now accounts for an impressive 29% of Mexico’s total technology-related exports.
Another key industry demonstrating remarkable growth is medical device manufacturing. Mexico has become a strategic hub for producing a vast range of medical products, from simple consumables to complex diagnostic equipment. A primary reason for this is its strategic location next to the United States, the world’s largest medical device market. Consequently, the industry is thriving, particularly in border regions.
The market statistics underscore this success. For example, the Mexico Medical Device Contract Manufacturing market was valued at USD 976.41 million in 2024. Looking forward, it is anticipated to reach USD 1,932.04 million by 2032, growing at a robust compound annual growth rate (CAGR) of 8.91%. This growth is fueled by strong foreign direct investment (FDI), with states like Baja California receiving over USD 500 million in accumulated FDI for this sector.
Specifically, the city of Tijuana stands out as the largest medical device manufacturing hub in North America. The state of Baja California is home to over 188 specialized manufacturing plants in this sector. These facilities produce billions of dollars in products annually, with total income for the sector reaching over USD 22.2 billion in the state. Therefore, this industry is a cornerstone of the regional economy and a critical part of the global healthcare supply chain.
The electronics industry has long been a foundational pillar of Mexico’s manufacturing economy. The country is a critical node in the global supply chain for everything from consumer electronics to complex industrial components. The sheer scale of this industry is evident in its trade figures; for instance, the total trade exchange (imports and sales) for electrical and electronic equipment in Mexico was USD 238 billion in 2024.
A significant portion of this output is destined for export. In 2024, international sales from this sector totaled USD 107 billion. Unsurprisingly, the United States is the main commercial destination, receiving USD 95 billion worth of these goods. This highlights the deep integration between the two economies. Moreover, several Mexican states are major players in this field. For example, Chihuahua led the nation with USD 20.4 billion in international sales, closely followed by Baja California with USD 19.3 billion and Jalisco with USD 12.9 billion. In short, Mexico is a critical manufacturing partner for the world’s leading technology brands.
In addition to its manufacturing prowess, Mexico has cultivated a vibrant and rapidly growing Information Technology (IT) and software industry. This sector is crucial for the digital transformation of all other industries and has become a significant economic driver in its own right. The overall Mexico ICT (Information and Communications Technology) market reached a size of USD 64.6 billion in 2024.
Looking deeper into the software segment, the Mexico enterprise software market alone reached USD 5.8 billion in 2024. Furthermore, analysts expect the market to grow to USD 9.5 billion by 2033, reflecting a steady CAGR of 5.3%. Other reports indicate even faster growth for the total software market, projecting a revenue of USD 16.1 billion by 2030 with a growth rate of 9.6%.
This growth is supported by a large and growing talent pool. For instance, cities like Guadalajara, Mexico City, and Monterrey have become major hubs for software development, attracting global companies to set up development centers. As a result, this sector is not only providing high-value jobs but also positioning Mexico as a leader in the global knowledge economy.
Finally, it is essential to highlight the plastic injection industry, a critical sector that functions as the backbone for many of Mexico’s leading manufacturing verticals. This industry is responsible for producing high-precision plastic components that are essential for the automotive, electronics, medical device, and consumer goods industries. Consequently, its growth is directly linked to the success of Mexico’s broader export economy.
The market for this sector is substantial and growing steadily. For example, the injection molded plastic market in Mexico was valued at USD 6.46 billion in 2023 and is projected to reach USD 8.46 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.9%. The overall plastics industry in Mexico, of which injection molding is a key part, contributes approximately 2.6% to the country’s manufacturing GDP and has attracted over 4,000 companies to establish operations.
The demand is heavily driven by other key industries. In fact, the automotive sector is the largest end-user, accounting for approximately 30% of the plastic injection molding market. The electronics and medical device industries are also major consumers, relying on high-precision molded parts for their products. As a result of this deep integration, industrial hubs for plastic injection are often co-located with automotive and electronics clusters in states like Querétaro, Guanajuato, and Nuevo León. Ultimately, the health and technological advancement of the plastic injection industry are crucial for maintaining the competitiveness of Mexico’s entire manufacturing ecosystem.
