Asia: Footwear Making Machinery Market 2024

Footwear Making Machinery Market Size in Asia

For the fifth consecutive year, the Asian footwear making machinery market recorded growth in sales value, which increased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2023 and is expected to retain growth in the immediate term.

Footwear Making Machinery Production in Asia

In value terms, footwear making machinery production reached $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2023, production growth remained at a somewhat lower figure.

Footwear Making Machinery Exports

Exports in Asia

In 2023, after two years of growth, there was significant decline in overseas shipments of machinery for making or repairing footwear, when their volume decreased by X% to X units. Total exports indicated pronounced growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X units in 2022, and then shrank remarkably in the following year.

In value terms, footwear making machinery exports dropped dramatically to $X in 2023. In general, exports, however, posted a pronounced increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, the exports reached the peak of $X. From 2020 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. X% of total exports in 2023. Taiwan (Chinese) (X units) ranks second in terms of the total exports with a X% share, followed by South Korea (X%).

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and South Korea increased by X and X percentage points, respectively.

In value terms, China ($X) remains the largest footwear making machinery supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, footwear making machinery 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: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per unit, shrinking by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

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 Taiwan (Chinese) ($X per unit), while China ($X per unit) was amongst the lowest.

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

Footwear Making Machinery Imports

Imports in Asia

In 2023, purchases abroad of machinery for making or repairing footwear decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of import peaked at X units in 2022, and then fell sharply in the following year.

In value terms, footwear making machinery imports declined to $X in 2023. Over the period under review, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports failed to regain momentum.

Imports by Country

India represented the key importer of machinery for making or repairing footwear in Asia, with the volume of imports resulting at X units, which was approx. X% of total imports in 2023. It was distantly followed by Vietnam (X units), Indonesia (X units) and Singapore (X units), together achieving a X% share of total imports. The following importers - Bangladesh (X units) and Cambodia (X units) - together made up X% of total imports.

India was also the fastest-growing in terms of the machinery for making or repairing footwear imports, with a CAGR of X% from 2012 to 2023. At the same time, Singapore (X%), Vietnam (X%), Bangladesh (X%), Cambodia (X%) and Indonesia (X%) displayed positive paces of growth. While the share of India (X p.p.), Vietnam (X p.p.) and Singapore (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported machinery for making or repairing footwear in Asia, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by India, with an X% share.

In Vietnam, footwear making machinery imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and India (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per unit, surging by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 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 Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform