The import value of circular knitting machines with a cylinder diameter not exceeding 165 mm to China is forecasted to decline from 2024 to 2028, starting at approximately $24.921 million in 2024, decreasing steadily each year and reaching $16.541 million in 2028. The year-on-year decline suggests a consistent reduction of about 8-9% annually during this period, reflecting a decelerating demand or possibly a shift towards domestic production or alternative solutions.
In 2023, the import stood at a level indicating that the market is undergoing structural changes, leading to a negative compound annual growth rate (CAGR) over the forecast period. Future trends to watch for include technological advancements in domestic manufacturing, shifts in global textile supply chains, and evolving fashion industry demands that could influence machine imports. Monitoring China's economic policies and potential trade negotiations will also be crucial for understanding future import dynamics.
