Thailand: Knitting Machines Market 2024

Knitting Machines Market Size in Thailand

The Thai knitting machines market surged to $X in 2021, growing by 47% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a abrupt downturn. Knitting machines consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Knitting Machines Exports

Exports from Thailand

In 2021, overseas shipments of knitting machineses decreased by -28.9% to X units, falling for the fourth consecutive year after two years of growth. Overall, exports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 372%. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, knitting machines exports skyrocketed to $X in 2021. In general, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 193% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for knitting machines exports from Thailand, accounting for a 52% share of total exports. Moreover, knitting machines exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by India (X units), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+35.5% per year) and India (+5.0% per year).

In value terms, the United States ($X) remains the key foreign market for knitting machineses exports from Thailand, comprising 65% of total exports. The second position in the ranking was taken by Germany ($X), with a 24% share of total exports. It was followed by India, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +42.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+58.7% per year) and India (+9.2% per year).

Export Prices by Country

In 2021, the average knitting machines export price amounted to $X per unit, rising by 67% against the previous year. Overall, the export price saw a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+34.7%), while the prices for the other major destinations experienced more modest paces of growth.

Knitting Machines Imports

Imports into Thailand

After four years of decline, purchases abroad of knitting machineses increased by 26% to X units in 2021. Overall, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 with an increase of 39%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, knitting machines imports skyrocketed to $X in 2021. In general, imports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2013 when imports increased by 39% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of knitting machines to Thailand, accounting for a 78% share of total imports. Moreover, knitting machines imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sevenfold. South Korea (X units) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-15.1% per year) and South Korea (-6.1% per year).

In value terms, China ($X) constituted the largest supplier of knitting machineses to Thailand, comprising 61% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 21% share of total imports. It was followed by Japan, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-4.7% per year) and Japan (-18.2% per year).

Import Prices by Country

In 2021, the average knitting machines import price amounted to $X per unit, declining by -4.4% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, knitting machines import price decreased by -25.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 51% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform