China: Knitting Machines Market 2024

Knitting Machines Market Size in China

In 2021, the Chinese knitting machines market decreased by -17.6% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption saw a noticeable downturn. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Knitting Machines Production in China

In value terms, knitting machines production rose slightly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 81%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Knitting Machines Exports

Exports from China

In 2021, exports of knitting machineses from China skyrocketed to X units, jumping by 32% against the year before. In general, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% 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 +54.2% against 2018 indices. The growth pace was the most rapid in 2014 when exports increased by 44% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, knitting machines exports surged to $X in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), India (X units) and Bangladesh (X units) were the main destinations of knitting machines exports from China, with a combined 44% share of total exports. These countries were followed by the UK, Vietnam, Pakistan, Turkey, Indonesia, Russia, Uzbekistan, Japan, Egypt and Mexico, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +54.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for knitting machineses exports from China, comprising 22% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 9.6% share of total exports. It was followed by Pakistan, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+18.5% per year) and Pakistan (+6.7% per year).

Export Prices by Country

The average knitting machines export price stood at $X per unit in 2021, with an increase of 9.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 22%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Turkey ($X per unit), while the average price for exports to the UK ($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 Bangladesh (+9.6%), while the prices for the other major destinations experienced a decline.

Knitting Machines Imports

Imports into China

In 2021, purchases abroad of knitting machineses increased by 66% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a abrupt slump. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, knitting machines imports surged to $X in 2021. Over the period under review, imports, however, faced a drastic downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of knitting machines to China, accounting for a 59% share of total imports. Moreover, knitting machines imports from Japan exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. Italy (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-11.4% per year) and Italy (-16.0% per year).

In value terms, the largest knitting machines suppliers to China were Japan ($X), Germany ($X) and Italy ($X), with a combined 92% share of total imports.

Japan, with a CAGR of +2.1%, 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 a decline.

Import Prices by Country

In 2021, the average knitting machines import price amounted to $X per unit, increasing by 2.3% against the previous year. Overall, the import price, however, saw a mild slump. The pace of growth appeared the most rapid in 2020 an increase of 28% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform