Northern America: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Northern America

After two years of growth, the North American market for machines for preparing, weaving and knitting textiles decreased by -5.9% to $X in 2021. Over the period under review, consumption, however, posted a buoyant expansion. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Production of Machines For Preparing, Weaving And Knitting Textiles in Northern America

In value terms, textile weaving and knitting machinery production dropped to $X in 2021 estimated in export price. The total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +79.1% against 2015 indices. The growth pace was the most rapid in 2020 when the production volume increased by 28% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports in Northern America

Textile weaving and knitting machinery exports surged to X units in 2021, increasing by 29% compared with 2020 figures. Over the period under review, exports, however, continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 when exports increased by 255% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, textile weaving and knitting machinery exports soared to $X in 2021. In general, exports, however, showed a slight curtailment. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States dominates exports structure, reaching X units, which was near 97% of total exports in 2021. Canada (X units) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the machines for preparing, weaving and knitting textiles exports, with a CAGR of -6.1% from 2012 to 2021. Canada (-7.0%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest textile weaving and knitting machinery supplier in Northern America, comprising 96% of total exports. The second position in the ranking was held by Canada ($X), with a 3.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to -1.6%.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per unit, increasing by 5% against the previous year. Over the period under review, the export price enjoyed a temperate increase. The growth pace was the most rapid in 2016 when the export price increased by 237% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the United States stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.7%).

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports in Northern America

In 2021, purchases abroad of machines for preparing, weaving and knitting textiles was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt slump. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, textile weaving and knitting machinery imports surged to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -21.2% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 47% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States represented the main importing country with an import of about X units, which resulted at 83% of total imports. It was distantly followed by Canada (X units), achieving a 17% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to textile weaving and knitting machinery imports into the United States stood at -8.8%. At the same time, Canada (+3.6%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +3.6% from 2012-2021. While the share of Canada (+11 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United States (-11.2 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported machines for preparing, weaving and knitting textiles in Northern America, comprising 94% of total imports. The second position in the ranking was held by Canada ($X), with a 6.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled +3.6%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per unit, reducing by -6.4% against the previous year. Overall, the import price, however, saw buoyant growth. The pace of growth was the most pronounced in 2020 when the import price increased by 150%. As a result, import price reached the peak level of $X per unit, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.6%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :