South-Eastern Asia: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in South-Eastern Asia

For the third consecutive year, the Southeast Asian household sewing machine market recorded decline in sales value, which decreased by -5.5% to $X in 2021. Over the period under review, consumption, however, showed a pronounced reduction. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Household Sewing Machine Production in South-Eastern Asia

In value terms, household sewing machine production shrank sharply to $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +33.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 66%. As a result, production reached the peak level of $X, and then reduced dramatically in the following year.

Household Sewing Machine Exports

Exports in South-Eastern Asia

Household sewing machine exports skyrocketed to X units in 2021, with an increase of 21% against 2020. In general, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 114% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, household sewing machine exports skyrocketed to $X in 2021. Over the period under review, exports showed buoyant growth. The growth pace was the most rapid in 2020 with an increase of 85% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

In 2021, Vietnam (X units) represented the key exporter of household sewing machines, mixing up 86% of total exports. It was distantly followed by Thailand (X units), generating a 13% share of total exports.

Vietnam was also the fastest-growing in terms of the household sewing machines exports, with a CAGR of +16.5% from 2012 to 2021. Thailand experienced a relatively flat trend pattern. While the share of Vietnam (+23 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-23 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest household sewing machine supplier in South-Eastern Asia, comprising 85% of total exports. The second position in the ranking was held by Thailand ($X), with a 15% share of total exports.

In Vietnam, household sewing machine exports increased at an average annual rate of +17.1% over the period from 2012-2021.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, picking up by 1.9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Vietnam totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.3%).

Household Sewing Machine Imports

Imports in South-Eastern Asia

In 2021, imports of household sewing machines in South-Eastern Asia soared to X units, jumping by 34% against the year before. In general, imports recorded prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by 188%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, household sewing machine imports soared to $X in 2021. Over the period under review, imports enjoyed mild growth. The pace of growth was the most pronounced in 2016 with an increase of 81%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Myanmar (X units) and Malaysia (X units) represented roughly 68% of total imports in 2021. It was distantly followed by Singapore (X units), Indonesia (X units) and Thailand (X units), together making up a 28% share of total imports. The Philippines (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +34.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest household sewing machine importing markets in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Myanmar ($X), together accounting for 78% of total imports.

Among the main importing countries, Myanmar, with a CAGR of +19.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, with a decrease of -11.7% against the previous year. In general, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 49%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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