Asia: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Asia

The Asian household sewing machine market dropped to $X in 2021, declining by -10.8% against the previous year. Overall, consumption recorded a pronounced shrinkage. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Household Sewing Machine Production in Asia

In value terms, household sewing machine production fell to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 33%. As a result, production reached the peak level of $X, and then dropped in the following year.

Household Sewing Machine Exports

Exports in Asia

In 2021, exports of household sewing machines in Asia totaled X units, increasing by 8.5% compared with the year before. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 60%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, household sewing machine exports expanded rapidly to $X in 2021. Total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +79.5% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 57%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X units) and Vietnam (X units) dominates exports structure, together comprising 84% of total exports. Thailand (X units) ranks next in terms of the total exports with a 5.1% share, followed by India (5.1%) and Taiwan (Chinese) (4.8%).

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +23.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2021, with a combined 87% share of total exports.

Vietnam, with a CAGR of +17.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, surging by 5.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 16%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, 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) ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.5%), while the other leaders experienced more modest paces of growth.

Household Sewing Machine Imports

Imports in Asia

In 2021, household sewing machine imports in Asia rose markedly to X units, growing by 14% against the year before. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 23% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, household sewing machine imports stood at $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 19%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Bangladesh (X units), India (X units) and Japan (X units) represented the key importer of household sewing machines in Asia, comprising 47% of total import. Myanmar (X units) took the next position in the ranking, followed by the United Arab Emirates (X units), Malaysia (X units), Turkey (X units) and Uzbekistan (X units). All these countries together held approx. 29% share of total imports. The following importers - South Korea (X units), Singapore (X units), Afghanistan (X units), Kazakhstan (X units) and China (X units) - together made up 13% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Uzbekistan (with a CAGR of +56.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported household sewing machines in Asia, comprising 35% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.3% share of total imports. It was followed by Bangladesh, with a 9% share.

In Japan, household sewing machine imports plunged by an average annual rate of -1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+0.4% per year) and Bangladesh (+8.9% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, shrinking by -9.5% against the previous year. Over the period under review, the import price saw a noticeable contraction. The growth pace was the most rapid in 2017 when the import price increased by 14%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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