China is the dominant exporter in the global market for machines related to knitting, lace, embroidery, and tufting, accounting for over half of the total exports, with a significant growth of 4.39% year-on-year. Japan, Germany, and Italy follow as leading exporters, though Japan and Germany saw declines of 9.07% and 11.68%, respectively. Notable year-on-year growth is seen in countries like Poland and Denmark, indicating emerging competitiveness despite their smaller market shares. Other countries like Switzerland and El Salvador have experienced substantial declines.
Future trends to watch include the potential shift of export dynamics due to geopolitical changes, advancements in technology, and increasing demand from growing markets. The rising prominence of countries like Lithuania in this sector suggests an evolving landscape where innovation and adaptability may influence market shares significantly.
Top countries in Export of Machines for Knitting, Lace, Embroidery and Tufting Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 51.79 | 2023 | +3.35% | +4.39% | View data |
| 2 | 2 Japan | 15.17 | 2023 | -4.35% | -9.07% | View data |
| 3 | 3 Germany | 10.96 | 2023 | -10.6% | -11.68% | View data |
| 4 | 4 Italy | 8.97 | 2023 | -3.19% | -4.41% | View data |
| 5 | 5 United States | 2.97 | 2023 | -1.13% | -0.87% | View data |
| 6 | 6 South Korea | 1.59 | 2023 | -10.44% | -9.56% | View data |
| 7 | 7 Czech Republic | 0.97 | 2023 | +2.85% | +1.65% | View data |
| 8 | 8 United Kingdom | 0.65 | 2023 | -6.6% | -7.34% | View data |
| 9 | 9 Spain | 0.56 | 2023 | -5.12% | -4.95% | View data |
| 10 | 10 Switzerland | 0.45 | 2023 | -38.1% | -26.37% | View data |
