Asia: Knitting Machines Market 2024

Knitting Machines Market Size in Asia

After two years of growth, the Asian knitting machines 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 indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Knitting Machines Production in Asia

In value terms, knitting machines production stood at $X in 2023 estimated in export price. The total production indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Knitting Machines Exports

Exports in Asia

In 2023, exports of knitting machineses in Asia surged to X units, increasing by X% against 2022 figures. Over the period under review, exports continue to indicate prominent growth. The growth pace was the most rapid in 2021 with an increase of X%. The volume of export peaked in 2023 and is likely to see steady growth in years to come.

In value terms, knitting machines exports declined to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporter of knitting machineses in Asia, with the volume of exports amounting to X units, which was near X% of total exports in 2023. It was distantly followed by Singapore (X units), mixing up an X% share of total exports. Japan (X units) and Turkey (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to knitting machines exports from China stood at X%. At the same time, Turkey (X%) and Singapore (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.) and Singapore (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, China ($X) remains the largest knitting machines supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

In China, knitting machines exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2023, falling by X% against the previous year. Over the period under review, the export price showed a pronounced slump. The pace of growth was the most pronounced in 2015 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Singapore ($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 Machines Imports

Imports in Asia

In 2023, purchases abroad of knitting machineses increased by X% to X units, rising for the third consecutive year after two years of decline. In general, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to see steady growth in the immediate term.

In value terms, knitting machines imports declined significantly to $X in 2023. Overall, imports, however, saw a noticeable curtailment. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

India prevails in imports structure, resulting at X units, which was approx. X% of total imports in 2023. It was distantly followed by Bangladesh (X units), comprising a X% share of total imports. Singapore (X units), Vietnam (X units), the United Arab Emirates (X units), Turkey (X units) and Malaysia (X units) took a minor share of total imports.

India was also the fastest-growing in terms of the knitting machineses imports, with a CAGR of X% from 2012 to 2023. At the same time, Malaysia (X%), the United Arab Emirates (X%), Vietnam (X%), Singapore (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Bangladesh (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Turkey and Bangladesh saw its share reduced by X%, X% and 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 machines importing markets in Asia were India ($X), Turkey ($X) and Bangladesh ($X), with a combined X% share of total imports. Vietnam, the United Arab Emirates, Malaysia and Singapore lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2023, shrinking by X% against the previous year. Overall, the import price saw a abrupt slump. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2023, import prices stood at a somewhat lower figure.

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 Turkey ($X per unit), while Singapore ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform