Mexico Remote Control Products-Hobby Market Outlook 2030

Mexico Remote Control Products-Hobby Market Analysis 2020-2030

Remote control products are electronic devices that are controlled with another small device, known as the remote, that transmits the signal. Popular types of remote-control products-hobby are car, plane, truck, helicopter, drone, and bike among others. The Mexico remote control products-hobby market is anticipated to grow with a CAGR of 2.16% over the forecast period, i.e., 2021 - 2030. Factors such as the growing advancements in radio control toys, followed by the increasing millennial population in Mexico, and the surge in awareness for these toys amongst these age group, are anticipated to drive the market growth. Moreover, factors such as 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, and the launch of several new RC toys by RC toy manufacturers are also expected to boost the growth of the market in the coming years. The market is estimated to garner a revenue of close to USD 140 Million by the end of 2030, up from a revenue of around USD 110 Million in the year 2020.

The Mexico remote control products-hobby market is segmented by numerous segments, which include segmentation by product, age group, power type, and by distribution channel. On the basis of product, the market is segmented into RC car, RC plane, RC truck, RC helicopter, RC drone, RC bike. The RC car segment, amongst all the other segments, is anticipated to hold the largest revenue of about USD 50 Million by the end of 2030, up from a revenue of over USD 40 Million in the year 2020.

The market is also segmented by age group into below 18 years, 18-34 years, 35-54 years, and above 54 years. By the end of 2030, the 18-34 years segment is expected to attain the largest revenue of near to USD 65 Million. Additionally, the segment is also expected to grow with the highest CAGR of close to 2% during the forecast period.

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.