Slovakia: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Slovakia

The Slovak industrial sewing machine market dropped sharply to $X in 2022, falling by -69.4% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Industrial sewing machine consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Industrial Sewing Machine Production in Slovakia

In value terms, industrial sewing machine production declined notably to $X in 2022 estimated in export price. In general, production saw a deep contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 398,018,000%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Industrial Sewing Machine Exports

Exports from Slovakia

In 2022, industrial sewing machine exports from Slovakia surged to X units, with an increase of 45% compared with the previous year's figure. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2013 with an increase of 520%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial sewing machine exports skyrocketed to $X in 2022. Over the period under review, exports posted a temperate expansion. The most prominent rate of growth was recorded in 2021 with an increase of 135%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

North Macedonia (X units), Turkey (X units) and Serbia (X units) were the main destinations of industrial sewing machine exports from Slovakia, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for North Macedonia (with a CAGR of +75.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Serbia ($X) and Tunisia ($X) were the largest markets for industrial sewing machine exported from Slovakia worldwide, with a combined 69% share of total exports. Morocco, North Macedonia, Ukraine and Germany lagged somewhat behind, together accounting for a further 24%.

In terms of the main countries of destination, Morocco, with a CAGR of +97.9%, recorded the highest rates of growth with regard to 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, waning by -6.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2014 when the average export price increased by 609% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Tunisia ($X per unit), while the average price for exports to North Macedonia ($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 Morocco (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Sewing Machine Imports

Imports into Slovakia

In 2022, supplies from abroad of industrial sewing machines decreased by -74.8% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports showed a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by 64%. Over the period under review, imports hit record highs at X units in 2021, and then fell notably in the following year.

In value terms, industrial sewing machine imports dropped dramatically to $X in 2022. Overall, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of 71%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of industrial sewing machine to Slovakia, with a 64% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +32.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.5% per year) and Italy (+16.4% per year).

In value terms, Italy ($X), China ($X) and Germany ($X) were the largest industrial sewing machine suppliers to Slovakia, with a combined 66% share of total imports.

Among the main suppliers, China, with a CAGR of +30.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, with an increase of 78% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. The growth pace was the most rapid in 2017 an increase of 116% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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