Switzerland: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Switzerland

After two years of growth, the Swiss sewing machine needle market decreased by -25.2% to $X in 2022. Overall, consumption, however, posted buoyant growth. Over the period under review, the market reached the peak level at $X in 2021, and then fell notably in the following year.

Sewing Machine Needle Exports

Exports from Switzerland

In 2022, after three years of growth, there was significant decline in overseas shipments of sewing machine needles, when their volume decreased by -40.1% to X units. Overall, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2020 when exports increased by 269%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, sewing machine needle exports shrank to $X in 2022. Over the period under review, exports recorded a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 307%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), New Zealand (X units) and Taiwan (Chinese) (X units) were the main destinations of sewing machine needle exports from Switzerland, together comprising 58% of total exports. Australia, Spain, Germany, Bosnia and Herzegovina, the UK, Denmark, Thailand, South Africa, South Korea and Austria lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bosnia and Herzegovina (with a CAGR of +92.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for sewing machine needles exports from Switzerland, comprising 46% of total exports. The second position in the ranking was taken by Australia ($X), with a 9.5% share of total exports. It was followed by New Zealand, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+0.7% per year) and New Zealand (-10.6% per year).

Export Prices by Country

In 2022, the average sewing machine needle export price amounted to $X per thousand units, picking up by 47% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average export price increased by 64% against the previous year. The export price peaked at $X per thousand units in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per thousand units), while the average price for exports to South Korea ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Machine Needle Imports

Imports into Switzerland

In 2022, after two years of growth, there was significant decline in supplies from abroad of sewing machine needles, when their volume decreased by -23.3% to X units. Over the period under review, imports, however, posted a modest expansion. The pace of growth was the most pronounced in 2020 when imports increased by 117%. Imports peaked at X units in 2021, and then fell notably in the following year.

In value terms, sewing machine needle imports reduced markedly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 83% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped sharply in the following year.

Imports by Country

India (X units), China (X units) and Germany (X units) were the main suppliers of sewing machine needle imports to Switzerland, with a combined 73% share of total imports. France, the UK, the United States, Vietnam and Japan lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +52.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and Vietnam ($X) were the largest sewing machine needle suppliers to Switzerland, with a combined 79% share of total imports. China, the UK, the United States, France and Japan lagged somewhat behind, together comprising a further 14%.

The UK, with a CAGR of +51.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sewing machine needle import price amounted to $X per thousand units, with a decrease of -16.7% against the previous year. Overall, the import price saw a noticeable descent. The most prominent rate of growth was recorded in 2017 an increase of 24%. The import price peaked at $X per thousand units in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per thousand units), while the price for France ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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