Eastern Asia: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Eastern Asia

The East Asian household sewing machine market contracted to $X in 2023, reducing by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2022, and then reduced in the following year.

Household Sewing Machine Production in Eastern Asia

In value terms, household sewing machine production fell modestly to $X in 2023 estimated in export price. In general, production recorded a mild slump. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Household Sewing Machine Exports

Exports in Eastern Asia

Household sewing machine exports stood at X units in 2023, picking up by X% on the previous year. In general, exports, however, saw a perceptible slump. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, household sewing machine exports fell modestly to $X in 2023. Overall, exports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporting country with an export of around X units, which reached X% of total exports. It was distantly followed by Taiwan (Chinese) (X units), creating an X% share of total exports. Japan (X units) took a little share of total exports.

China was also the fastest-growing in terms of the household sewing machines exports, with a CAGR of X% from 2012 to 2023. Japan (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2023, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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.

Household Sewing Machine Imports

Imports in Eastern Asia

In 2023, supplies from abroad of household sewing machines decreased by X% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, household sewing machine imports contracted to $X in 2023. In general, imports saw a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Japan was the major importing country with an import of about X units, which reached X% of total imports. It was distantly followed by China (X units) and South Korea (X units), together committing a X% share of total imports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of X% from 2012 to 2023. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) and 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. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported household sewing machines in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Japan stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per unit, with an increase of X% against the previous year. Import price indicated a measured increase from 2012 to 2023: its price 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, household sewing machine import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.

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 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 more modest paces of growth.

Source: IndexBox Platform