Thailand: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Thailand

In 2021, the Thai market for machines for preparing, weaving and knitting textiles increased by 3.7% to $X, rising for the third consecutive year after five years of decline. In general, consumption, however, faced a deep downturn. Textile weaving and knitting machinery consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Machines For Preparing, Weaving And Knitting Textiles in Thailand

In value terms, textile weaving and knitting machinery production declined remarkably to $X in 2021 estimated in export price. Overall, production recorded a precipitous shrinkage. Textile weaving and knitting machinery production peaked at $X in 2020, and then shrank markedly in the following year.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Thailand

In 2021, overseas shipments of machines for preparing, weaving and knitting textiles decreased by -16.2% to X units, falling for the third consecutive year after three years of growth. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 165%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, textile weaving and knitting machinery exports rose notably to $X in 2021. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 60%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for textile weaving and knitting machinery exports from Thailand, with a 37% share of total exports. Moreover, textile weaving and knitting machinery exports to the United States exceeded the volume sent to the second major destination, India (X units), twofold. The third position in this ranking was held by Germany (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +157.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+17.6% per year) and Germany (+49.2% per year).

In value terms, the largest markets for textile weaving and knitting machinery exported from Thailand were the United States ($X), Pakistan ($X) and India ($X), together accounting for 61% of total exports.

The United States, with a CAGR of +165.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, increasing by 35% against the previous year. Over the period under review, the export price enjoyed a mild expansion. The growth pace was the most rapid in 2019 an increase of 148%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while the average price for exports to Spain ($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 Turkey (+46.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Thailand

In 2021, overseas purchases of machines for preparing, weaving and knitting textiles increased by 27% to X units for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt decrease. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, textile weaving and knitting machinery imports stood at $X in 2021. In general, imports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 37% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest textile weaving and knitting machinery supplier to Thailand, accounting for a 55% share of total imports. Moreover, textile weaving and knitting machinery imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-13.1% per year) and Taiwan (Chinese) (-12.1% per year).

In value terms, Japan ($X), China ($X) and Germany ($X) appeared to be the largest textile weaving and knitting machinery suppliers to Thailand, together comprising 88% of total imports. These countries were followed by Taiwan (Chinese), Switzerland, the UK and South Korea, which together accounted for a further 8.2%.

Among the main suppliers, the UK, with a CAGR of +2.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for machines for preparing, weaving and knitting textiles amounted to $X per unit, dropping by -17.5% against the previous year. Over the period under review, the import price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2020 an increase of 147%. As a result, import price reached the peak level of $X per unit, and then reduced dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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