South-Eastern Asia: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in South-Eastern Asia

The Southeast Asian industrial sewing machines (non-automatic) market surged to $X in 2022, rising by 19% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.8% against 2020 indices. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Production of Industrial Sewing Machines (Non-Automatic) in South-Eastern Asia

In value terms, industrial sewing machines (non-automatic) production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a measured increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 125% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports in South-Eastern Asia

In 2022, shipments abroad of industrial sewing machines (non-automatic) increased by 21% to X units, rising for the second year in a row after two years of decline. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 +39.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial sewing machines (non-automatic) exports stood at $X in 2022. Total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +49.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 54%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X units) represented the main exporter of industrial sewing machines (non-automatic), comprising 69% of total exports. It was distantly followed by Vietnam (X units), committing a 26% share of total exports. Malaysia (X units) and Thailand (X units) followed a long way behind the leaders.

Exports from Singapore increased at an average annual rate of +6.2% from 2012 to 2022. At the same time, Malaysia (+26.6%) and Thailand (+24.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +26.6% from 2012-2022. Vietnam experienced a relatively flat trend pattern. Singapore (+8.4 p.p.) and Malaysia (+3 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -12.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest industrial sewing machines (non-automatic) supplier in South-Eastern Asia, comprising 74% of total exports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total exports. It was followed by Malaysia, with a 5.5% share.

In Singapore, industrial sewing machines (non-automatic) exports expanded at an average annual rate of +1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (-0.5% per year) and Malaysia (+20.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, with a decrease of -11.2% against the previous year. In general, the export price saw a pronounced descent. The pace of growth appeared the most rapid in 2021 when the export price increased by 20%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam ($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 (-1.3%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports in South-Eastern Asia

In 2022, purchases abroad of industrial sewing machines (non-automatic) increased by 41% to X units, rising for the second year in a row after two years of decline. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 +77.7% against 2020 indices. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, industrial sewing machines (non-automatic) imports skyrocketed to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +73.8% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 39% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X units), distantly followed by Singapore (X units), Vietnam (X units), Malaysia (X units), Myanmar (X units) and Thailand (X units) were the major importers of industrial sewing machines (non-automatic), together comprising 95% of total imports. The Philippines (X units) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 82% of total imports. Malaysia, Thailand, Myanmar and the Philippines lagged somewhat behind, together accounting for a further 14%.

Malaysia, with a CAGR of +17.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, falling by -11.4% against the previous year. In general, the import price recorded a slight descent. The pace of growth was the most pronounced in 2018 when the import price increased by 11% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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