Eastern Asia: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Eastern Asia

The East Asian industrial sewing machine market reduced notably to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a abrupt curtailment. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Industrial Sewing Machine Production in Eastern Asia

In value terms, industrial sewing machine production contracted to $X in 2022 estimated in export price. The total production indicated modest 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Industrial Sewing Machine Exports

Exports in Eastern Asia

In 2022, shipments abroad of industrial sewing machines increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports showed noticeable growth. The growth pace was the most rapid in 2018 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, industrial sewing machine exports rose notably 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

China prevails in exports structure, amounting to X units, which was approx. X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), making up a X% share of total exports.

China was also the fastest-growing in terms of the industrial sewing machines exports, with a CAGR of X% from 2012 to 2022. Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

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

From 2012 to 2022, the average annual growth rate of value in China amounted to X%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price enjoyed a slight expansion. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%).

Industrial Sewing Machine Imports

Imports in Eastern Asia

In 2022, the amount of industrial sewing machines imported in Eastern Asia dropped to X units, which is down by X% against 2021. Over the period under review, imports showed a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, industrial sewing machine imports dropped to $X in 2022. In general, imports continue to indicate a perceptible decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of industrial sewing machine imports in 2022 were South Korea (X units), Hong Kong SAR (X units), Japan (X units) and China (X units), together finishing at X% of total import. It was distantly followed by Taiwan (Chinese) (X units), achieving a X% share of total imports. Democratic People's Republic of Korea (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Democratic People's Republic of Korea (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X), Hong Kong SAR ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Taiwan (Chinese), Japan and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further X%.

Democratic People's Republic of Korea, with a CAGR of X%, recorded 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

In 2022, the import price in Eastern Asia amounted to $X per unit, waning by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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