Asia-Pacific: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Asia-Pacific

The Asia-Pacific industrial sewing machine market contracted sharply to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption recorded a deep downturn. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Industrial Sewing Machine Production in Asia-Pacific

In value terms, industrial sewing machine production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Industrial Sewing Machine Exports

Exports in Asia-Pacific

In 2022, shipments abroad of industrial sewing machines increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports showed a remarkable increase. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, industrial sewing machine exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X units) and Singapore (X units) prevails in exports structure, together committing X% of total exports. The following exporters - India (X units) and Taiwan (Chinese) (X units) - each amounted to a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Singapore (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest industrial sewing machine supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with an X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, industrial sewing machine exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible slump. The growth pace was the most rapid in 2015 an increase of X%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, 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.

Industrial Sewing Machine Imports

Imports in Asia-Pacific

Industrial sewing machine imports fell sharply to X units in 2022, waning by X% compared with the previous year's figure. In general, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units, and then contracted markedly in the following year.

In value terms, industrial sewing machine imports contracted slightly to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X units) represented the major importer of industrial sewing machines, generating X% of total imports. It was distantly followed by Vietnam (X units), Singapore (X units), Indonesia (X units) and Bangladesh (X units), together generating a X% share of total imports. Myanmar (X units), Thailand (X units), the Philippines (X units), Sri Lanka (X units), Malaysia (X units), Nepal (X units) and Pakistan (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Nepal (X%), the Philippines (X%), Sri Lanka (X%), Vietnam (X%), Indonesia (X%), Myanmar (X%), Pakistan (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Singapore (X%) and Thailand (X%) illustrated a downward trend over the same period. India (X p.p.), Vietnam (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Bangladesh, Thailand and Singapore saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest industrial sewing machine importing markets in Asia-Pacific were India ($X), Vietnam ($X) and Singapore ($X), with a combined X% share of total imports. Bangladesh, Indonesia, Malaysia, Sri Lanka, Thailand, Pakistan, Myanmar, the Philippines and Nepal lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Nepal, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, 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-Pacific stood at $X per unit in 2022, growing by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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