ASEAN: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in ASEAN

The ASEAN industrial sewing machines (non-automatic) market soared to $X in 2022, picking up by 19% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.8% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Industrial Sewing Machines (Non-Automatic) in ASEAN

In value terms, industrial sewing machines (non-automatic) production fell slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 125% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports in ASEAN

In 2022, overseas shipments of industrial sewing machines (non-automatic) increased by 21% to X units, rising for the second year in a row after two years of decline. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.9% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 39% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial sewing machines (non-automatic) exports stood at $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 54%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Singapore (X units) was the main exporter of industrial sewing machines (non-automatic), constituting 69% of total exports. It was distantly followed by Vietnam (X units), comprising a 26% share of total exports. Malaysia (X units) and Thailand (X units) followed a long way behind the leaders.

Exports from Singapore increased at an average annual rate of +6.2% from 2012 to 2022. At the same time, Malaysia (+26.6%) and Thailand (+24.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +26.6% from 2012-2022. Vietnam experienced a relatively flat trend pattern. Singapore (+8.4 p.p.) and Malaysia (+3 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -12.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest industrial sewing machines (non-automatic) supplier in ASEAN, comprising 74% of total exports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total exports. It was followed by Malaysia, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at +1.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (-0.5% per year) and Malaysia (+20.1% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, dropping by -11.2% against the previous year. In general, the export price showed a pronounced decline. The pace of growth appeared the most rapid in 2021 when the export price increased by 20%. Over the period under review, the export prices reached the peak figure at $X per unit in 2016; however, from 2017 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 Malaysia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.3%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports in ASEAN

In 2022, supplies from abroad of industrial sewing machines (non-automatic) increased by 41% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 +77.7% against 2020 indices. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machines (non-automatic) imports surged to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +73.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 39% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X units), distantly followed by Singapore (X units), Vietnam (X units), Malaysia (X units), Myanmar (X units) and Thailand (X units) represented the largest importers of industrial sewing machines (non-automatic), together achieving 95% of total imports. The Philippines (X units) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial sewing machines (non-automatic) importing markets in ASEAN were Singapore ($X), Indonesia ($X) and Vietnam ($X), with a combined 82% share of total imports. Malaysia, Thailand, Myanmar and the Philippines lagged somewhat behind, together accounting for a further 14%.

In terms of the main importing countries, Malaysia, with a CAGR of +17.3%, 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 ASEAN stood at $X per unit in 2022, waning by -11.4% against the previous year. In general, the import price showed a slight setback. The most prominent rate of growth was recorded in 2018 when the import price increased by 11% against the previous year. Over the period under review, import prices reached the maximum 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 Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform