China: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in China

The Chinese industrial sewing machine market was estimated at $X in 2022, almost unchanged from the previous year. Overall, consumption, however, saw a pronounced decrease. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Industrial Sewing Machine Production in China

In value terms, industrial sewing machine production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production saw a mild expansion. The growth pace was the most rapid in 2018 when the production volume increased by 166% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Industrial Sewing Machine Exports

Exports from China

In 2022, shipments abroad of industrial sewing machines increased by 5.2% to X units, rising for the second year in a row after two years of decline. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +36.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 30%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, industrial sewing machine exports expanded remarkably to $X in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 +69.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 48%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

India (X units) was the main destination for industrial sewing machine exports from China, accounting for a 16% share of total exports. Moreover, industrial sewing machine exports to India exceeded the volume sent to the second major destination, Vietnam (X units), twofold. The third position in this ranking was held by Indonesia (X units), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to India amounted to +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+10.6% per year) and Indonesia (+0.5% per year).

In value terms, the largest markets for industrial sewing machine exported from China were Vietnam ($X), India ($X) and Singapore ($X), with a combined 29% share of total exports. Turkey, Bangladesh, Indonesia, Brazil, Malaysia, Russia, the United Arab Emirates, Uzbekistan, Pakistan and Nigeria lagged somewhat behind, together comprising a further 33%.

The United Arab Emirates, with a CAGR of +26.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2022, with an increase of 8.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 14% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Nigeria ($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 Malaysia (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Sewing Machine Imports

Imports into China

Industrial sewing machine imports into China dropped to X units in 2022, with a decrease of -13.1% compared with 2021. Over the period under review, imports recorded a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 73%. As a result, imports attained the peak of X units, and then dropped in the following year.

In value terms, industrial sewing machine imports contracted notably to $X in 2022. Overall, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 73%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of industrial sewing machine to China, with a 34% share of total imports. Moreover, industrial sewing machine imports from Japan exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan amounted to -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+64.0% per year) and Germany (+13.7% per year).

In value terms, the largest industrial sewing machine suppliers to China were Japan ($X), Vietnam ($X) and Germany ($X), with a combined 65% share of total imports.

Vietnam, with a CAGR of +41.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, waning by -8% against the previous year. In general, the import price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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