Report Update Nov 1, 2024

Cuba - Industrial Sewing Machines - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Cuba

The Cuban industrial sewing machine market declined remarkably to $X in 2021, with a decrease of -29.1% 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 showed a mild curtailment. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Industrial Sewing Machine Exports

Exports from Cuba

In 2020, industrial sewing machine exports from Cuba contracted sharply to X units, with a decrease of -47.1% on the year before. Overall, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 300%. The exports peaked at X units in 2019, and then declined markedly in the following year.

In value terms, industrial sewing machine exports shrank significantly to $X in 2020. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 371%. Over the period under review, the exports hit record highs at $X in 2019, and then contracted rapidly in the following year.

Exports by Country

Spain (X units) was the main destination for industrial sewing machine exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Spain amounted to +93.3%.

In value terms, Spain ($X) emerged as the key foreign market for industrial sewing machine exports from Cuba.

From 2012 to 2020, the average annual growth rate of value to Spain stood at +122.9%.

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2020, rising by 34% against the previous year. Over the period under review, the export price saw a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Spain.

From 2012 to 2020, the rate of growth in terms of prices for Spain amounted to +15.3% per year.

Industrial Sewing Machine Imports

Imports into Cuba

In 2021, approx. X units of industrial sewing machines were imported into Cuba; which is down by -29.3% on the year before. Overall, imports recorded a noticeable decline. The pace of growth appeared the most rapid in 2017 when imports increased by 514%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, industrial sewing machine imports shrank markedly to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 581%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Spain (X units) and Colombia (X units) were the main suppliers of industrial sewing machine imports to Cuba, together comprising 67% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Colombia (with a CAGR of +38.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of industrial sewing machine to Cuba, comprising 42% of total imports. The second position in the ranking was held by Mexico ($X), with a 19% share of total imports. It was followed by Japan, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-10.5% per year) and Japan (+13.5% per year).

Import Prices by Country

In 2021, the average industrial sewing machine import price amounted to $X per unit, declining by -6.2% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial sewing machine import price increased by +134.6% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 110% against the previous year. The import price peaked at $X per unit in 2020, and then shrank in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+285.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for industrial sewing machines in the world?

The countries with the highest volumes of in 2021 were China, India and Japan, together accounting for 31% of global consumption. These countries were followed by Vietnam, the United States, Indonesia, Brazil, Uzbekistan, Cambodia, Turkey, Bangladesh, Mexico and Germany, which together accounted for a further 27%.

What are the largest producers of industrial sewing machines in the world?

China remains the largest industrial sewing machine producing country worldwide, comprising approx. 67% of total volume. Moreover, industrial sewing machine production in China exceeded the figures recorded by the second-largest producer, Japan, eightfold. Germany ranked third in terms of total production with a 3.6% share.

What are the leading suppliers of industrial sewing machines to Cuba?

In value terms, China, Mexico and Japan appeared to be the largest industrial sewing machine suppliers to Cuba, with a combined 86% share of total imports. Spain, Taiwan Chinese), Panama and Colombia lagged somewhat behind, together accounting for a further 11%.

What is the average export price for industrial sewing machines in Cuba?

The average industrial sewing machine export price stood at $319 per unit in 2020, declining by -55.6% against the previous year.

What is the average import price for industrial sewing machines in Cuba?

In 2021, the average industrial sewing machine import price amounted to $694 per unit, growing by 103% against the previous year.

This report provides an in-depth analysis of the industrial sewing machine market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28942430 - Industrial automatic sewing machines (excluding book-sewing machines)
Prodcom 28942450 - Industrial sewing machines (excluding book-sewing machines, automatic machines)

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023