Australia: Knitting Machines Market 2024

Knitting Machines Market Size in Australia

The Australian knitting machines market skyrocketed to $X in 2021, growing by 46% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a deep contraction. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Knitting Machines Exports

Exports from Australia

In 2021, overseas shipments of knitting machineses increased by 41% to X units for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 212%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, knitting machines exports soared to $X in 2021. Overall, exports, however, continue to indicate a mild reduction. The growth pace was the most rapid in 2016 with an increase of 85%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), New Zealand (X units) and China (X units) were the main destinations of knitting machines exports from Australia, together accounting for 78% of total exports.

From 2012 to 2021, the biggest increases were recorded for New Zealand (with a CAGR of +14.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and New Zealand ($X) were the largest markets for knitting machines exported from Australia worldwide, with a combined 64% share of total exports. These countries were followed by China, Turkey, India and Papua New Guinea, which together accounted for a further 23%.

In terms of the main countries of destination, Turkey, with a CAGR of +29.7%, saw the highest rates of growth with regard to 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

In 2021, the average knitting machines export price amounted to $X per unit, with a decrease of -13.7% against the previous year. Overall, the export price, however, saw prominent growth. The growth pace was the most rapid in 2018 an increase of 875% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2020, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Papua New Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Knitting Machines Imports

Imports into Australia

In 2021, overseas purchases of knitting machineses increased by 39% to X units, rising for the third consecutive year after three years of decline. Overall, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by 229%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, knitting machines imports surged to $X in 2021. In general, imports enjoyed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Taiwan (Chinese) (X units) constituted the largest knitting machines supplier to Australia, accounting for a 49% share of total imports. Moreover, knitting machines imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by Japan (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) totaled +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.2% per year) and Japan (+7.5% per year).

In value terms, Japan ($X) constituted the largest supplier of knitting machineses to Australia, comprising 45% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.4% per year) and Taiwan (Chinese) (+19.9% per year).

Import Prices by Country

In 2021, the average knitting machines import price amounted to $X per unit, with an increase of 36% against the previous year. Over the period under review, the import price, however, recorded a deep setback. The pace of growth was the most pronounced in 2016 when the average import price increased by 103%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform