Asia: Knitting Machine Market 2024

Knitting Machine Market Size in Asia

After two years of growth, the Asian knitting machine market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a lower figure.

Knitting Machine Production in Asia

In value terms, knitting machine production rose notably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2023, production growth remained at a lower figure.

Knitting Machine Exports

Exports in Asia

In 2023, approx. X units of flat knitting machines, stitch-bonding machines and warp knitting machines were exported in Asia; with an increase of X% compared with the previous year. Overall, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, knitting machine exports contracted to $X in 2023. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, reaching X units, which was near X% of total exports in 2023. Japan (X units), Turkey (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest knitting machine supplying countries in Asia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports.

Among the main exporting countries, China, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per unit, reducing by X% against the previous year. Overall, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the export price figures.

Knitting Machine Imports

Imports in Asia

After two years of growth, purchases abroad of flat knitting machines, stitch-bonding machines and warp knitting machines decreased by X% to X units in 2023. Over the period under review, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2022, and then dropped dramatically in the following year.

In value terms, knitting machine imports dropped markedly to $X in 2023. In general, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, India (X units) was the major importer of flat knitting machines, stitch-bonding machines and warp knitting machines, mixing up X% of total imports. Bangladesh (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (X%). China (X units), Hong Kong SAR (X units), Indonesia (X units) and Armenia (X units) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to knitting machine imports into India stood at X%. At the same time, Armenia (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Indonesia and Bangladesh experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) and China (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and Armenia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Indonesia (X p.p.), Turkey (X p.p.), Hong Kong SAR (X p.p.), China (X p.p.) and Bangladesh (X p.p.) displayed negative dynamics.

In value terms, Bangladesh ($X), Turkey ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. India, Indonesia, Hong Kong SAR and Armenia lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Armenia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Asia stood at $X per unit in 2023, picking up by X% against the previous year. Overall, the import price, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2016 an increase of X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while Armenia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Armenia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform