South-Eastern Asia: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in South-Eastern Asia

In 2022, the Southeast Asian industrial sewing machine market increased by 20% to $X, rising for the second year in a row after three years of decline. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +68.5% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Industrial Sewing Machine Production in South-Eastern Asia

In value terms, industrial sewing machine production fell remarkably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible contraction. The growth pace was the most rapid in 2021 when the production volume increased by 75%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Industrial Sewing Machine Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of industrial sewing machines increased by 10% to X units, rising for the second year in a row after two years of decline. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +39.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 32%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial sewing machine exports expanded to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 43% against the previous year. As a result, the exports reached 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, committing 63% of total exports. It was distantly followed by Vietnam (X units), comprising a 31% share of total exports. The following exporters - Malaysia (X units) and Thailand (X units) - together made up 5.4% of total exports.

Exports from Singapore increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Thailand (+29.0%), Malaysia (+22.0%) and Vietnam (+1.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +29.0% from 2012-2022. From 2012 to 2022, the share of Malaysia and Thailand increased by +2.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest industrial sewing machine supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was held by Vietnam ($X), with a 19% share of total exports. It was followed by Malaysia, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+0.3% per year) and Malaysia (+17.5% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, which is down by -5.5% against the previous year. Over the period under review, the export price saw a pronounced slump. The pace of growth appeared the most rapid in 2015 when the export price increased by 11%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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.

Industrial Sewing Machine Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of industrial sewing machines increased by 25% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +49.2% against 2020 indices. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, industrial sewing machine imports skyrocketed to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +67.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of industrial sewing machine imports in 2022 were Indonesia (X units), Vietnam (X units) and Singapore (X units), together resulting at 71% of total import. Malaysia (X units) ranks next in terms of the total imports with a 9% share, followed by Myanmar (7.7%) and Thailand (7.5%). The Philippines (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +21.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Vietnam ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, together comprising 80% of total imports. Malaysia, Thailand, Myanmar and the Philippines lagged somewhat behind, together accounting for a further 16%.

Among the main importing countries, Malaysia, with a CAGR of +22.8%, 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 2022, shrinking by -7.3% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 21% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, 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 Singapore ($X per unit), while the Philippines ($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 (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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