Republic of Korea - Household Sewing Machines - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Household Sewing Machine Market 2024
Household Sewing Machine Market Size in Republic of Korea
In 2023, the South Korean household sewing machine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.
Household Sewing Machine Exports
Exports from Republic of Korea
After two years of growth, shipments abroad of household sewing machines decreased by X% to X units in 2023. Overall, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2022, and then fell in the following year.
In value terms, household sewing machine exports shrank modestly to $X in 2023. Over the period under review, exports, however, recorded prominent growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2022, and then shrank modestly in the following year.
Exports by Country
Nigeria (X units) was the main destination for household sewing machine exports from South Korea, accounting for a X% share of total exports. Moreover, household sewing machine exports to Nigeria exceeded the volume sent to the second major destination, Vietnam (X units), fivefold.
From 2012 to 2023, the average annual rate of growth in terms of volume to Nigeria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the Philippines (X% per year).
In value terms, Nigeria ($X) remains the key foreign market for household sewing machines exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Nigeria stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the Philippines (X% per year).
Export Prices by Country
The average household sewing machine export price stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, household sewing machine export price decreased by X% against 2021 indices. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2023, the average export prices remained at a somewhat lower figure.
Average prices varied somewhat for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Household Sewing Machine Imports
Imports into Republic of Korea
In 2023, purchases abroad of household sewing machines was finally on the rise to reach X units for the first time since 2020, thus ending a two-year declining trend. In general, imports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2023, imports failed to regain momentum.
In value terms, household sewing machine imports rose rapidly to $X in 2023. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.
Imports by Country
In 2023, Vietnam (X units) constituted the largest supplier of household sewing machine to South Korea, accounting for a X% share of total imports. Moreover, household sewing machine imports from Vietnam exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), twofold. The third position in this ranking was held by China (X units), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from Vietnam amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and China (X% per year).
In value terms, Vietnam ($X) constituted the largest supplier of household sewing machines to South Korea, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by China, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and China (X% per year).
Import Prices by Country
The average household sewing machine import price stood at $X per unit in 2023, falling by X% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, household sewing machine import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2022, and then reduced in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per unit) and Vietnam ($X per unit), while the price for Thailand ($X per unit) and China ($X per unit) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the household sewing machine market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28944000 - Domestic sewing machines (excluding furniture, bases and covers)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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