China: Knitting Machine Market 2024

Knitting Machine Market Size in China

The Chinese knitting machine market fell to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption recorded a deep slump. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2023, consumption failed to regain momentum.

Knitting Machine Production in China

In value terms, knitting machine production stood at $X in 2023 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Knitting Machine Exports

Exports from China

Knitting machine exports from China amounted to X units in 2023, increasing by X% on the previous year. In general, exports saw strong growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, knitting machine exports fell rapidly to $X in 2023. Over the period under review, total exports indicated prominent growth from 2012 to 2023: its value 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 2014 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Suriname (X units), India (X units) and Bangladesh (X units) were the main destinations of knitting machine exports from China, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Suriname (with a CAGR of X.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for knitting machine exported from China were India ($X), Bangladesh ($X) and Turkey ($X), together accounting for X% of total exports. Vietnam, Indonesia, Egypt, Cambodia, Russia, Mexico, the United States, Peru, Kenya and Suriname lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average knitting machine export price stood at $X per unit in 2023, waning by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable slump. The growth pace was the most rapid in 2015 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Suriname ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Knitting Machine Imports

Imports into China

In 2023, approx. X units of flat knitting machines, stitch-bonding machines and warp knitting machines were imported into China; rising by X% compared with 2022 figures. Over the period under review, imports, however, showed a noticeable decline. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, knitting machine imports rose rapidly to $X in 2023. Overall, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Japan (X units) constituted the largest knitting machine supplier to China, with a X% share of total imports. Moreover, knitting machine imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Japan ($X), Germany ($X) and Taiwan (Chinese) ($X) were the largest knitting machine suppliers to China, together comprising X% of total imports.

In terms of the main suppliers, Japan, 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.

Import Prices by Country

In 2023, the average knitting machine import price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform