India: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in India

In 2022, the Indian industrial sewing machine market increased by 67% to $X, rising for the second consecutive year after two years of decline. Overall, consumption posted a buoyant expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Industrial Sewing Machine Production in India

In value terms, industrial sewing machine production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2015 with an increase of 116%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Industrial Sewing Machine Exports

Exports from India

Industrial sewing machine exports from India dropped markedly to X units in 2022, falling by -19.7% on the previous year's figure. In general, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 101% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then shrank markedly in the following year.

In value terms, industrial sewing machine exports contracted dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 146% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Myanmar (X units), Nepal (X units) and the United Arab Emirates (X units) were the main destinations of industrial sewing machine exports from India, together comprising 59% of total exports. Bangladesh, Ethiopia, Mali, Tanzania, Sri Lanka, Egypt, Saudi Arabia, Chad, Cameroon and Kenya lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Cameroon (with a CAGR of +97.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Myanmar ($X) and Nepal ($X) appeared to be the largest markets for industrial sewing machine exported from India worldwide, with a combined 35% share of total exports. Bangladesh, Sri Lanka, Ethiopia, Mali, Egypt, Tanzania, Kenya, Cameroon, Chad and Saudi Arabia lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Cameroon, with a CAGR of +76.1%, recorded the highest rates of growth with regard to 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 2022, the average industrial sewing machine export price amounted to $X per unit, picking up by 3.3% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 22% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+1.5%), while the prices for the other major destinations experienced a decline.

Industrial Sewing Machine Imports

Imports into India

In 2022, purchases abroad of industrial sewing machines increased by 54% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial sewing machine imports surged to $X in 2022. In general, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 84%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machine supplier to India, accounting for a 90% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+19.3% per year) and Hong Kong SAR (+26.8% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to India, comprising 63% of total imports. The second position in the ranking was held by Singapore ($X), with a 17% share of total imports. It was followed by Hong Kong SAR, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+17.7% per year) and Hong Kong SAR (+14.9% per year).

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, with a decrease of -19.8% against the previous year. Overall, the import price continues to indicate a abrupt descent. The growth pace was the most rapid in 2021 an increase of 20% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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