Eastern Asia: Dry-Cleaning Machine Market 2024

Dry-Cleaning Machine Market Size in Eastern Asia

In 2021, after two years of growth, there was significant decline in the East Asian dry-cleaning machine market, when its value decreased by -14.4% to $X. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then reduced in the following year.

Dry-Cleaning Machine Production in Eastern Asia

In value terms, dry-cleaning machine production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Dry-Cleaning Machine Exports

Exports in Eastern Asia

In 2021, overseas shipments of dry-cleaning machines were finally on the rise to reach X units after two years of decline. Overall, exports, however, recorded a abrupt descent. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, dry-cleaning machine exports shrank to $X in 2021. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2018 when exports increased by 16%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, reaching X units, which was approx. 93% of total exports in 2021. South Korea (X units) and Japan (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the dry-cleaning machines exports, with a CAGR of -3.2% from 2012 to 2021. Japan (-11.0%) and South Korea (-19.9%) illustrated a downward trend over the same period. China (+23 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -1.6% and -13.1% from 2012 to 2021, respectively.

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

China, with a CAGR of -8.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, with a decrease of -37.4% against the previous year. Overall, the export price showed a perceptible curtailment. The growth pace was the most rapid in 2017 an increase of 30% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+13.7%), while the other leaders experienced a decline in the export price figures.

Dry-Cleaning Machine Imports

Imports in Eastern Asia

In 2021, supplies from abroad of dry-cleaning machines was finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, dry-cleaning machine imports dropped markedly to $X in 2021. In general, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 17%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) represented the major importer of dry-cleaning machines, achieving 63% of total imports. South Korea (X units) held the second position in the ranking, distantly followed by Hong Kong SAR (X units). All these countries together took near 31% share of total imports. The following importers - Taiwan (Chinese) (X units) and Japan (X units) - together made up 4.6% of total imports.

China was also the fastest-growing in terms of the dry-cleaning machines imports, with a CAGR of +2.5% from 2012 to 2021. Taiwan (Chinese) (-2.2%), South Korea (-8.4%), Hong Kong SAR (-13.9%) and Japan (-14.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +28 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported dry-cleaning machines in Eastern Asia, comprising 59% of total imports. The second position in the ranking was held by South Korea ($X), with a 19% share of total imports. It was followed by Hong Kong SAR, with a 7% share.

In China, dry-cleaning machine imports decreased by an average annual rate of -6.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-12.3% per year) and Hong Kong SAR (-16.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, shrinking by -39.1% against the previous year. In general, the import price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2013 an increase of 40% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :