Eastern Asia: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Eastern Asia

The East Asian household sewing machine market declined dramatically to $X in 2021, reducing by -24.9% against the previous year. Over the period under review, consumption recorded a noticeable reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Household Sewing Machine Production in Eastern Asia

In value terms, household sewing machine production dropped to $X in 2021 estimated in export price. In general, production showed a pronounced downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by 22% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Household Sewing Machine Exports

Exports in Eastern Asia

In 2021, shipments abroad of household sewing machines increased by 0.2% to X units, rising for the fourth year in a row after three years of decline. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 42% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, household sewing machine exports rose modestly to $X in 2021. Over the period under review, exports, however, showed a pronounced setback. The pace of growth was the most pronounced in 2020 with an increase of 34% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, finishing at X units, which was approx. 90% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units), constituting an 8.6% share of total exports. Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the household sewing machines exports, with a CAGR of +2.1% from 2012 to 2021. Japan (-3.1%) and Taiwan (Chinese) (-9.8%) illustrated a downward trend over the same period. While the share of China (+15 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-13.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest household sewing machine supplier in Eastern Asia, comprising 66% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 29% share of total exports.

In China, household sewing machine exports plunged by an average annual rate of -1.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-3.0% per year) and Japan (-0.1% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, growing by 2.4% against the previous year. Overall, the export price, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2016 an increase of 11%. Over the period under review, the export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.5%), while the other leaders experienced mixed trends in the export price figures.

Household Sewing Machine Imports

Imports in Eastern Asia

In 2021, after two years of growth, there was significant decline in supplies from abroad of household sewing machines, when their volume decreased by -15.1% to X units. In general, imports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2020 with an increase of 58% against the previous year. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, household sewing machine imports contracted to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 59%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2021, Japan (X units) represented the largest importer of household sewing machines, making up 70% of total imports. South Korea (X units) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by China (7.9%).

From 2012 to 2021, average annual rates of growth with regard to household sewing machine imports into Japan stood at -4.4%. At the same time, China (+16.7%) and South Korea (+10.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.7% from 2012-2021. While the share of South Korea (+14 p.p.) and China (+6.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-12.7 p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported household sewing machines in Eastern Asia, comprising 80% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports.

In Japan, household sewing machine imports contracted by an average annual rate of -1.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.4% per year) and China (+16.7% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, increasing by 1.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2017 when the import price increased by 19%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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