Eastern Asia: Laundry Machine Market 2024

Laundry Machine Market Size in Eastern Asia

In 2021, the East Asian laundry machine market decreased by -1.1% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then fell in the following year.

Laundry Machine Production in Eastern Asia

In value terms, laundry machine production amounted to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 1.2%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Laundry Machine Exports

Exports in Eastern Asia

In 2021, overseas shipments of washing, bleaching or dyeing machines were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, laundry machine exports skyrocketed to $X in 2021. In general, exports saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) represented the main exporting country with an export of around X units, which accounted for 69% of total exports. South Korea (X units) ranks second in terms of the total exports with a 22% share, followed by China (5.7%). Japan (X units) followed a long way behind the leaders.

Taiwan (Chinese) experienced a relatively flat trend pattern with regard to volume of exports of washing, bleaching or dyeing machines. At the same time, China (+15.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +15.0% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Japan (-14.3%) illustrated a downward trend over the same period. While the share of China (+4.2 p.p.) and Taiwan (Chinese) (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-8.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +5.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, declining by -14% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the export price increased by 25% against the previous year. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.4%), while the other leaders experienced more modest paces of growth.

Laundry Machine Imports

Imports in Eastern Asia

In 2021, purchases abroad of washing, bleaching or dyeing machines increased by 13% to X units, rising for the second consecutive year after two years of decline. Overall, imports showed modest growth. The growth pace was the most rapid in 2013 when imports increased by 58%. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, laundry machine imports shrank to $X in 2021. Over the period under review, imports, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2013 with an increase of 21% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X units) represented the key importer of washing, bleaching or dyeing machines, generating 59% of total imports. It was distantly followed by Taiwan (Chinese) (X units) and Japan (X units), together committing a 37% share of total imports. China (X units) took a minor share of total imports.

South Korea experienced a relatively flat trend pattern with regard to volume of imports of washing, bleaching or dyeing machines. At the same time, Japan (+10.2%) and China (+2.1%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +10.2% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of Japan (+6.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-1.7 p.p.) and Taiwan (Chinese) (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported washing, bleaching or dyeing machines in Eastern Asia, comprising 80% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 7.2% share of total imports. It was followed by South Korea, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value in China totaled -2.3%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.2% per year) and South Korea (+4.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, reducing by -22.1% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2019 an increase of 174%. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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