Asia-Pacific: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Asia-Pacific

The Asia-Pacific household sewing machine market contracted to $X in 2021, dropping by -12.9% against the previous year. Overall, consumption showed a noticeable decline. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Household Sewing Machine Production in Asia-Pacific

In value terms, household sewing machine production fell to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 39%. As a result, production attained the peak level of $X, and then fell in the following year.

Household Sewing Machine Exports

Exports in Asia-Pacific

In 2021, household sewing machine exports in Asia-Pacific expanded rapidly to X units, picking up by 8.6% against the year before. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.5% against 2017 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 60% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, household sewing machine exports rose markedly to $X in 2021. Total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 +79.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 57%. The level of export peaked in 2021 and is 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) took the next position in the ranking, followed by India (X units) and Taiwan (Chinese) (X units). All these countries together took approx. 15% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +23.3%), while 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.

In terms of the main exporting countries, Vietnam, with a CAGR of +17.1%, recorded the highest growth rate of the value of exports, 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-Pacific stood at $X per unit in 2021, increasing by 5.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 16% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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-Pacific

In 2021, approx. X units of household sewing machines were imported in Asia-Pacific; growing by 11% compared with the year before. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 30%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, household sewing machine imports rose slightly to $X in 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 26%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

The countries with the highest levels of household sewing machine imports in 2021 were Bangladesh (X units), India (X units) and Japan (X units), together resulting at 55% of total import. Myanmar (X units) ranks next in terms of the total imports with an 8.8% share, followed by Australia (8.2%), Malaysia (6.5%) and South Korea (4.8%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +34.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported household sewing machines in Asia-Pacific, comprising 37% of total imports. The second position in the ranking was taken by Australia ($X), with a 16% share of total imports. It was followed by Bangladesh, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan amounted to -1.5%. The remaining importing countries recorded the following average annual rates of imports growth: Australia (-0.3% per year) and Bangladesh (+8.9% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, shrinking by -6.8% against the previous year. Overall, the import price recorded a pronounced decline. The most prominent rate of growth was recorded in 2017 when the import price increased by 18%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 Japan (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :