Hide Repairing Machinery Market

The article analyzes the global market for machinery used in the production and repair of hides, skins, and leather. It forecasts growth in market volume and value over the next eight years, with consumption trends showing increases in certain countries. The article also delves into production, imports, and exports data, highlighting notable fluctuations and growth rates in these sectors.

Market Forecast

Driven by increasing demand for machinery for making or repairing articles of hides, skins or leather worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market volume to 126K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $441M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machinery For Making Or Repairing Articles Of Hides, Skins Or Leather

In 2022, global hide repairing machinery consumption rose notably to 102K units, with an increase of 9.5% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 116K units in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

The global hide repairing machinery market size totaled $301M in 2022, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $336M. From 2021 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (13K units), Taiwan (Chinese) (12K units) and Indonesia (9.1K units), together accounting for 34% of global consumption. The United States, South Korea, China, South Africa, Jordan, Tunisia, Vietnam, Canada, France and Spain lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +43.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($93M) led the market, alone. The second position in the ranking was held by Indonesia ($30M). It was followed by India.

In Taiwan (Chinese), the hide repairing machinery market declined by an average annual rate of -1.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Indonesia (+3.6% per year) and India (+2.6% per year).

In 2022, the highest levels of hide repairing machinery per capita consumption was registered in Taiwan (Chinese) (515 units per million persons), followed by Jordan (250 units per million persons), Tunisia (203 units per million persons) and South Korea (136 units per million persons), while the world average per capita consumption of hide repairing machinery was estimated at 13 units per million persons.

From 2012 to 2022, the average annual rate of growth in terms of the hide repairing machinery per capita consumption in Taiwan (Chinese) was relatively modest. In the other countries, the average annual rates were as follows: Jordan (-0.2% per year) and Tunisia (+4.8% per year).

Production

World Production of Machinery For Making Or Repairing Articles Of Hides, Skins Or Leather

In 2022, production of machinery for making or repairing articles of hides, skins or leather decreased by -4% to 73K units, falling for the second year in a row after two years of growth. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. As a result, production attained the peak volume of 87K units. From 2021 to 2022, global production growth remained at a lower figure.

In value terms, hide repairing machinery production stood at $344M in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 33%. Global production peaked in 2022 and is likely to continue growth in the near future.

Production By Country

The countries with the highest volumes of production in 2022 were China (20K units), Taiwan (Chinese) (15K units) and South Korea (6.9K units), together comprising 57% of global production. Italy, France, Jordan, India, Malaysia, Spain, Saudi Arabia, Brazil and the UK lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +2.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Machinery For Making Or Repairing Articles Of Hides, Skins Or Leather

In 2022, overseas purchases of machinery for making or repairing articles of hides, skins or leather increased by 29% to 60K units, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 36% against the previous year. Over the period under review, global imports reached the peak figure at 72K units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, hide repairing machinery imports expanded notably to $98M in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 35% against the previous year. Over the period under review, global imports hit record highs at $190M in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, India (12K units), the United States (9.3K units) and Indonesia (9.2K units) was the main importer of machinery for making or repairing articles of hides, skins or leather in the world, creating 51% of total import. It was distantly followed by South Africa (4.5K units), achieving a 7.4% share of total imports. Vietnam (2.7K units), Tunisia (2.4K units), Canada (1.9K units), the Netherlands (1.7K units), the Philippines (1.6K units), Burundi (1.2K units), Cambodia (1K units), Angola (1K units) and Egypt (0.9K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +60.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Indonesia ($26M) constitutes the largest market for imported machinery for making or repairing articles of hides, skins or leather worldwide, comprising 26% of global imports. The second position in the ranking was held by India ($11M), with an 11% share of global imports. It was followed by Vietnam, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at +2.2%. The remaining importing countries recorded the following average annual rates of imports growth: India (-1.1% per year) and Vietnam (+0.9% per year).

Import Prices By Country

The average hide repairing machinery import price stood at $1,634 per unit in 2022, falling by -15% against the previous year. In general, the import price saw a noticeable descent. The most prominent rate of growth was recorded in 2015 an increase of 19%. As a result, import price reached the peak level of $3,564 per unit. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($3,769 per unit), while Burundi ($68 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+15.3%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Machinery For Making Or Repairing Articles Of Hides, Skins Or Leather

Global hide repairing machinery exports reached 31K units in 2022, picking up by 5.8% against 2021. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 40%. The global exports peaked at 44K units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, hide repairing machinery exports expanded sharply to $114M in 2022. Over the period under review, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +11.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 55%. As a result, the exports attained the peak of $174M. From 2016 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

China was the main exporter of machinery for making or repairing articles of hides, skins or leather in the world, with the volume of exports finishing at 15K units, which was near 50% of total exports in 2022. It was distantly followed by Italy (5.8K units) and Taiwan (Chinese) (2.5K units), together achieving a 27% share of total exports. The following exporters - France (947 units), the United States (807 units), India (666 units) and South Korea (580 units) - together made up 9.7% of total exports.

China was also the fastest-growing in terms of the machinery for making or repairing articles of hides, skins or leather exports, with a CAGR of +14.1% from 2012 to 2022. Italy (-1.9%), Taiwan (Chinese) (-2.5%), India (-4.6%), France (-8.7%), the United States (-13.4%) and South Korea (-15.5%) illustrated a downward trend over the same period. China (+36 p.p.) significantly strengthened its position in terms of the global exports, while Taiwan (Chinese), Italy, France, South Korea and the United States saw its share reduced by -2.5%, -4.5%, -4.8%, -8.5% and -8.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($46M), Taiwan (Chinese) ($27M) and China ($15M) constituted the countries with the highest levels of exports in 2022, with a combined 77% share of global exports.

China, with a CAGR of +10.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average hide repairing machinery export price stood at $3,680 per unit in 2022, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth was the most pronounced in 2015 when the average export price increased by 20% against the previous year. The global export price peaked at $4,716 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($10,905 per unit), while India ($463 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+14.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform