Northern America: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Northern America

The North American industrial sewing machine market shrank to $X in 2022, dropping by -6.6% against the previous year. Overall, consumption recorded a abrupt decline. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Industrial Sewing Machine Production in Northern America

In value terms, industrial sewing machine production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2013 with an increase of 49% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Industrial Sewing Machine Exports

Exports in Northern America

In 2022, shipments abroad of industrial sewing machines increased by 4.9% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 26%. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, industrial sewing machine exports rose modestly to $X in 2022. In general, exports, however, saw a slight downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 22%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States dominates exports structure, finishing at X units, which was approx. 93% of total exports in 2022. It was distantly followed by Canada (X units), creating a 7% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to industrial sewing machine exports from the United States stood at -3.2%. At the same time, Canada (+2.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +2.4% from 2012-2022. Canada (+2.9 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -2.9% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest industrial sewing machine supplier in Northern America, comprising 90% of total exports. The second position in the ranking was held by Canada ($X), with a 9.9% share of total exports.

In the United States, industrial sewing machine exports decreased by an average annual rate of -2.0% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2017 when the export price increased by 11%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%).

Industrial Sewing Machine Imports

Imports in Northern America

Industrial sewing machine imports fell to X units in 2022, with a decrease of -9.5% against 2021. Overall, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machine imports surged to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 22%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States represented the major importing country with an import of around X units, which amounted to 77% of total imports. It was distantly followed by Canada (X units), making up a 23% share of total imports.

Imports into the United States decreased at an average annual rate of -3.8% from 2012 to 2022. At the same time, Canada (+2.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +2.7% from 2012-2022. While the share of Canada (+9.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-9.8 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported industrial sewing machines in Northern America, comprising 91% of total imports. The second position in the ranking was held by Canada ($X), with an 8.9% share of total imports.

In the United States, industrial sewing machine imports contracted by an average annual rate of -1.0% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, increasing by 28% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2013 when the import price increased by 42% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%).

Source: IndexBox Platform

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