China: Knitting Machine Market 2024

Knitting Machine Market Size in China

In 2022, the Chinese knitting machine market decreased by X% to $X, falling for the fifth consecutive year after two years of growth. Over the period under review, consumption continues to indicate a deep downturn. Knitting machine consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Knitting Machine Production in China

In value terms, knitting machine production contracted modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Knitting Machine Exports

Exports from China

In 2022, exports of flat knitting machines, stitch-bonding machines and warp knitting machines from China amounted to X units, surging by X% compared with 2021. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, knitting machine exports rose modestly to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Bangladesh (X units) was the main destination for knitting machine exports from China, accounting for a X% share of total exports. Moreover, knitting machine exports to Bangladesh exceeded the volume sent to the second major destination, India (X units), twofold. Peru (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bangladesh totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Peru (X% per year).

In value terms, Bangladesh ($X), India ($X) and Vietnam ($X) appeared to be the largest markets for knitting machine exported from China worldwide, together accounting for X% of total exports. Turkey, Indonesia, Egypt, Peru, Uzbekistan, the United States, Russia, Cambodia, Pakistan and Afghanistan lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Egypt, with a CAGR of X%, saw 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 average knitting machine export price stood at $X per unit in 2022, approximately mirroring the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Knitting Machine Imports

Imports into China

In 2022, the amount of flat knitting machines, stitch-bonding machines and warp knitting machines imported into China contracted dramatically to X units, which is down by X% on the year before. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, knitting machine imports shrank dramatically to $X in 2022. Over the period under review, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of knitting machine to China, accounting for a X% share of total imports. Moreover, knitting machine imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled X%.

In value terms, the largest knitting machine suppliers to China were Japan ($X) and Germany ($X).

In terms of the main suppliers, Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average knitting machine import price stood at $X per unit in 2022, declining by X% against the previous year. Overall, the import price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Japan stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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