Singapore: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Singapore

The Singaporean industrial sewing machines (non-automatic) market shrank to $X in 2022, with a decrease of -1.9% against the previous year. Over the period under review, consumption continues to indicate a pronounced downturn. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Industrial Sewing Machines (Non-Automatic) in Singapore

In value terms, industrial sewing machines (non-automatic) production dropped slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 37%. Industrial sewing machines (non-automatic) production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Singapore

In 2022, shipments abroad of industrial sewing machines (non-automatic) increased by 17% to X units, rising for the second consecutive year after two years of decline. Overall, exports showed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 55%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, industrial sewing machines (non-automatic) exports expanded significantly to $X in 2022. Over the period under review, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 80%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X units), Bangladesh (X units) and Indonesia (X units) were the main destinations of industrial sewing machines (non-automatic) exports from Singapore, together accounting for 61% of total exports. Vietnam, Myanmar, Hong Kong SAR, Pakistan, Sri Lanka, Taiwan (Chinese), Thailand, Malaysia and Cambodia lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +17.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) remains the key foreign market for industrial sewing machines (non-automatic) exports from Singapore, comprising 38% of total exports. The second position in the ranking was taken by India ($X), with an 18% share of total exports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Bangladesh stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+9.2% per year) and Vietnam (-2.9% per year).

Export Prices by Country

The average industrial sewing machines (non-automatic) export price stood at $X per unit in 2022, falling by -8.2% against the previous year. Over the period under review, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 29% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while the average price for exports to Myanmar ($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 Malaysia (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Singapore

In 2022, approx. X units of industrial sewing machines (non-automatic) were imported into Singapore; jumping by 16% on 2021 figures. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +144.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 111% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machines (non-automatic) imports surged to $X in 2022. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +154.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 103%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of industrial sewing machines (non-automatic) to Singapore, accounting for a 57% share of total imports. Moreover, industrial sewing machines (non-automatic) imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was taken by Japan (X units), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+18.5% per year) and Japan (+2.2% per year).

In value terms, China ($X), Japan ($X) and Vietnam ($X) constituted the largest industrial sewing machines (non-automatic) suppliers to Singapore, together accounting for 99% of total imports.

Vietnam, with a CAGR of +41.2%, recorded 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

The average industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, rising by 8.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 37%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($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 (+19.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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