Global Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size

The global industrial sewing machine market rose remarkably to $X in 2022, picking up by 5.7% against the previous year. In general, consumption, however, saw a pronounced downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the global market remained at a lower figure.

Industrial Sewing Machine Production

In value terms, industrial sewing machine production shrank slightly to $X in 2022 estimated in export price. In general, production, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. Global production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Industrial Sewing Machine Exports

Exports

Global industrial sewing machine exports dropped to X units in 2022, almost unchanged from the previous year's figure. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 33%. As a result, the exports reached the peak of X units, and then shrank modestly in the following year.

In value terms, industrial sewing machine exports reached $X in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 42% against the previous year. Over the period under review, the global exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, recording X units, which was approx. 73% of total exports in 2022. Singapore (X units) took the second position in the ranking, followed by Taiwan (Chinese) (X units) and India (X units). All these countries together held approx. 16% share of total exports. Vietnam (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +5.0% from 2012 to 2022. At the same time, India (+9.6%), Singapore (+3.5%) and Vietnam (+1.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.6% from 2012-2022. By contrast, Taiwan (Chinese) (-10.2%) illustrated a downward trend over the same period. While the share of China (+15 p.p.) and India (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Taiwan (Chinese) (-13.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest industrial sewing machine supplier worldwide, comprising 54% of global exports. The second position in the ranking was held by Singapore ($X), with a 9.1% share of global exports. It was followed by Taiwan (Chinese), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +8.0%. In the other countries, the average annual rates were as follows: Singapore (-0.1% per year) and Taiwan (Chinese) (+1.5% per year).

Export Prices by Country

In 2022, the average industrial sewing machine export price amounted to $X per unit, with an increase of 7.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 12% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.0%), while the other global leaders experienced mixed trends in the export price figures.

Industrial Sewing Machine Imports

Imports

In 2022, overseas purchases of industrial sewing machines increased by 6.4% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, industrial sewing machine imports amounted to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. Global imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X units), distantly followed by Indonesia (X units) were the major importers of industrial sewing machines, together making up 25% of total imports. The following importers - the United Arab Emirates (X units), Vietnam (X units), Singapore (X units), Brazil (X units), Nigeria (X units), Bangladesh (X units), Turkey (X units), Uzbekistan (X units), Bolivia (X units), the UK (X units) and Russia (X units) - together made up 34% of total imports.

Imports into India increased at an average annual rate of +16.5% from 2012 to 2022. At the same time, Nigeria (+22.5%), Indonesia (+21.2%), Uzbekistan (+18.2%), Bolivia (+16.4%), the United Arab Emirates (+13.2%), Turkey (+6.8%), Vietnam (+6.0%), Bangladesh (+4.0%) and the UK (+1.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +22.5% from 2012-2022. Russia and Singapore experienced a relatively flat trend pattern. By contrast, Brazil (-10.1%) illustrated a downward trend over the same period. While the share of India (+12 p.p.), Indonesia (+4.9 p.p.), Uzbekistan (+2.5 p.p.), Nigeria (+2.4 p.p.), the United Arab Emirates (+2.4 p.p.) and Bolivia (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Singapore (-3.1 p.p.) and Brazil (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Singapore ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined 23% share of global imports. Indonesia, Bangladesh, Turkey, Nigeria, Brazil, Uzbekistan, Russia, the United Arab Emirates, the UK and Bolivia lagged somewhat behind, together accounting for a further 29%.

Nigeria, with a CAGR of +19.6%, 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 global leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, reducing by -2.9% against the previous year. Overall, the import price saw a mild shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 7.9%. Over the period under review, average import prices attained the maximum 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 Bangladesh ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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