In 2024, the forecasted import of machinery for making or repairing footwear into China begins at $7.76 million, marking a downward trend from the previous data. The forecast predicts a consistent year-on-year decline, reaching $3.12 million by 2028. From 2025 to 2028, there are decreases ranging from approximately 15% to 26% annually. This consistent decline suggests a five-year compound annual growth rate (CAGR) of roughly -19.1%, indicating a significant reduction in importation of such machinery. As of 2023, actual import values were higher, marking an ongoing contraction in this segment.
Future trends to watch include technological advancements within China leading to domestic machinery production, shifts in global trade policies affecting imports, and China's focus on sustainability and increased automation in footwear production, potentially reducing reliance on imported machinery.
