Asia: Knitting Machines Market 2024

Knitting Machines Market Size in Asia

In 2021, the Asian knitting machines market increased by 13% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Knitting Machines Production in Asia

In value terms, knitting machines production declined to $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +1.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 55% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Knitting Machines Exports

Exports in Asia

In 2021, shipments abroad of knitting machineses was finally on the rise to reach X units after six years of decline. Overall, exports, however, recorded a noticeable downturn. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, knitting machines exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) and Taiwan (Chinese) (X units) were the main exporters of knitting machineses in 2021, finishing at approx. 39% and 31% of total exports, respectively. It was distantly followed by South Korea (X units), making up a 20% share of total exports. Japan (X units) and Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +8.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest knitting machines supplier in Asia, comprising 63% of total exports. The second position in the ranking was held by Japan ($X), with a 21% share of total exports. It was followed by Taiwan (Chinese), with a 9.2% share.

In China, knitting machines exports expanded at an average annual rate of +8.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-0.5% per year) and Taiwan (Chinese) (-0.7% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, approximately mirroring the previous year. Overall, the export price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 an increase of 55% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.0%), while the other leaders experienced more modest paces of growth.

Knitting Machines Imports

Imports in Asia

In 2021, purchases abroad of knitting machineses was finally on the rise to reach X units after six years of decline. Over the period under review, imports, however, showed a deep reduction. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, knitting machines imports skyrocketed to $X in 2021. In general, imports, however, showed a slight setback. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

India represented the main importing country with an import of around X units, which reached 48% of total imports. Turkey (X units) ranks second in terms of the total imports with a 9.8% share, followed by Thailand (6.5%), Indonesia (5.5%) and Bangladesh (5%). Malaysia (X units), Pakistan (X units), Vietnam (X units), South Korea (X units) and the United Arab Emirates (X units) followed a long way behind the leaders.

India was also the fastest-growing in terms of the knitting machineses imports, with a CAGR of +29.9% from 2012 to 2021. At the same time, Malaysia (+22.2%), Turkey (+19.2%) and Pakistan (+9.2%) displayed positive paces of growth. By contrast, Thailand (-13.1%), Bangladesh (-16.3%), the United Arab Emirates (-16.9%), Vietnam (-20.1%), South Korea (-27.8%) and Indonesia (-28.4%) illustrated a downward trend over the same period. India (+47 p.p.), Turkey (+9.1 p.p.), Malaysia (+3.2 p.p.) and Pakistan (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh, Vietnam, South Korea and Indonesia saw its share reduced by -3.1%, -3.9%, -9.4% and -31% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest knitting machines importing markets in Asia were Turkey ($X), India ($X) and Bangladesh ($X), together accounting for 56% of total imports. Vietnam, Pakistan, Indonesia, South Korea, Thailand, the United Arab Emirates and Malaysia lagged somewhat behind, together comprising a further 22%.

Vietnam, with a CAGR of +8.2%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in Asia stood at $X per unit in 2021, falling by -22.1% against the previous year. Overall, the import price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when the import price increased by 107% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2020, and then contracted markedly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+35.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform