Malaysia: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Malaysia

The Malaysian industrial sewing machine market shrank markedly to $X in 2022, declining by -35.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a resilient increase. Industrial sewing machine consumption peaked at $X in 2021, and then fell remarkably in the following year.

Industrial Sewing Machine Exports

Exports from Malaysia

In 2022, industrial sewing machine exports from Malaysia skyrocketed to X units, with an increase of 21% on 2021 figures. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 257%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial sewing machine exports reached $X in 2022. Over the period under review, exports showed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 231%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Bangladesh (X units), Vietnam (X units) and India (X units) were the main destinations of industrial sewing machine exports from Malaysia, together accounting for 63% of total exports. Pakistan, Singapore, Indonesia, Taiwan (Chinese) and Cambodia lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +91.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Vietnam ($X) and India ($X) constituted the largest markets for industrial sewing machine exported from Malaysia worldwide, together comprising 62% of total exports. Pakistan, Indonesia, Taiwan (Chinese), Singapore and Cambodia lagged somewhat behind, together comprising a further 20%.

Among the main countries of destination, Pakistan, with a CAGR of +60.1%, saw 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 2022, the average industrial sewing machine export price amounted to $X per unit, which is down by -13.9% against the previous year. Over the period under review, the export price saw a noticeable decrease. The most prominent rate of growth was recorded in 2013 when the average export price increased by 44% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Cambodia ($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 India (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Sewing Machine Imports

Imports into Malaysia

Industrial sewing machine imports into Malaysia dropped remarkably to X units in 2022, with a decrease of -37.1% on the previous year's figure. Overall, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2013 when imports increased by 243%. Imports peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, industrial sewing machine imports contracted sharply to $X in 2022. In general, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 390%. Over the period under review, imports hit record highs at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machine supplier to Malaysia, with a 63% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. Singapore (X units) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+34.4% per year) and Singapore (+57.5% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to Malaysia, comprising 52% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+45.6% per year) and Singapore (+54.0% per year).

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, growing by 16% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial sewing machine import price increased by +87.8% against 2019 indices. The growth pace was the most rapid in 2013 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Cambodia ($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 (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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