Singapore: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Singapore

In 2021, the Singaporean household sewing machine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate measured growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Household Sewing Machine Production in Singapore

In value terms, household sewing machine production soared to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Household Sewing Machine Exports

Exports from Singapore

In 2021, shipments abroad of household sewing machines increased by 32% to X units, rising for the second consecutive year after two years of decline. Overall, exports saw buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 246% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, household sewing machine exports rose markedly to $X in 2021. Over the period under review, exports, however, saw a abrupt decrease. The growth pace was the most rapid in 2013 when exports increased by 159% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X units) was the main destination for household sewing machine exports from Singapore, accounting for a 32% share of total exports. Moreover, household sewing machine exports to Vietnam exceeded the volume sent to the second major destination, Cote d'Ivoire (X units), twofold. Sri Lanka (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+41.9% per year) and Sri Lanka (+43.9% per year).

In value terms, the largest markets for household sewing machine exported from Singapore were Sri Lanka ($X), Vietnam ($X) and Maldives ($X), with a combined 51% share of total exports. Australia, South Africa, Tonga, Poland, Cote d'Ivoire, Cameroon, Indonesia, Nigeria, Afghanistan and Myanmar lagged somewhat behind, together accounting for a further 30%.

Tonga, with a CAGR of +30.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average household sewing machine export price stood at $X per unit in 2021, with a decrease of -16.8% against the previous year. In general, the export price showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 11% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Afghanistan ($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 Poland (-13.9%), while the prices for the other major destinations experienced a decline.

Household Sewing Machine Imports

Imports into Singapore

After three years of growth, purchases abroad of household sewing machines decreased by -7% to X units in 2021. Overall, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2015 when imports increased by 74%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, household sewing machine imports shrank significantly to $X in 2021. Over the period under review, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 25%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest household sewing machine supplier to Singapore, with a 66% share of total imports. Moreover, household sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. The third position in this ranking was taken by Japan (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+42.4% per year) and Japan (+32.8% per year).

In value terms, China ($X) constituted the largest supplier of household sewing machines to Singapore, comprising 45% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 21% share of total imports. It was followed by Vietnam, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+7.0% per year) and Vietnam (+7.4% per year).

Import Prices by Country

The average household sewing machine import price stood at $X per unit in 2021, falling by -17% against the previous year. Over the period under review, the import price saw a precipitous curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 6.8% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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