Italy: Knitting Machines Market 2024

Knitting Machines Market Size in Italy

In 2021, the Italian knitting machines market decreased by -63% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, consumption recorded a pronounced contraction. As a result, consumption reached the peak level of $X, and then declined notably in the following year.

Knitting Machines Production in Italy

In value terms, knitting machines production reduced sharply to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt contraction. The pace of growth appeared the most rapid in 2019 with an increase of 28%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Knitting Machines Exports

Exports from Italy

In 2021, shipments abroad of knitting machineses increased by 148% to X units, rising for the fifth year in a row after four years of decline. In general, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitting machines exports soared to $X in 2021. Over the period under review, exports, however, recorded a slight shrinkage. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X units) was the main destination for knitting machines exports from Italy, with a 50% share of total exports. Moreover, knitting machines exports to Turkey exceeded the volume sent to the second major destination, Pakistan (X units), sixfold. Egypt (X units) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+16.2% per year) and Egypt (+9.6% per year).

In value terms, Turkey ($X) remains the key foreign market for knitting machineses exports from Italy, comprising 47% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 6.7% share of total exports. It was followed by Honduras, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+9.0% per year) and Honduras (+92.9% per year).

Export Prices by Country

The average knitting machines export price stood at $X per unit in 2021, reducing by -35.4% against the previous year. Overall, the export price saw a abrupt decrease. The growth pace was the most rapid in 2014 when the average export price increased by 22% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Honduras ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (-6.2%), while the prices for the other major destinations experienced a decline.

Knitting Machines Imports

Imports into Italy

In 2021, imports of knitting machineses into Italy soared to X units, jumping by 67% against 2020 figures. In general, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, knitting machines imports surged to $X in 2021. Overall, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and Japan (X units) were the main suppliers of knitting machines imports to Italy, with a combined 94% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +54.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest knitting machines suppliers to Italy were Japan ($X), Germany ($X) and China ($X), with a combined 85% share of total imports. France lagged somewhat behind, accounting for a further 8.9%.

France, with a CAGR of +32.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average knitting machines import price amounted to $X per unit, growing by 7.7% against the previous year. Over the period under review, the import price, however, faced a deep contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 23%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform