Research Report on China's Circular Knitting Machine Exports 2023-2032
A knitting machine is a machine that produces knitted fabrics in a semi-automatic or fully automatic manner and is one of the main production equipment for knitted goods. With the development of technology, knitting machines are gradually changing from mechanical control to intelligent control that is more in line with modern production requirements. With the development of global knitting industry, especially the strong demand for textile and garment manufacturing in emerging countries has contributed to the expansion of the knitting machine market.
China is one of the world's leading producers of knitting machines, exporting a large number of knitting machines every year. According to CRI's analysis, in 2021, China exported 97,100 units of circular knitting machines, up 28.80% year-on-year, with an export value of US$383 million, up 46.40% year-on-year. From January to November 2022, China exported 169,600 units of circular knitting machines, up 116.43% year-on-year, with an export value of US$355 million, up 3.42% year-on-year.
In 2021, China exported circular knitting machines to more than ninety countries and regions around the world. CRI analysis shows that by export volume, the U.S., Indonesia, Pakistan, India, Vietnam, Uzbekistan, Turkey, Germany, Mexico and Bangladesh are the main export destinations for Chinese circular knitting machines. Among them, the U.S. is the largest destination for China's circular knitting machine exports. In 2021, China exported 22,900 units of circular knitting machines to the U.S., accounting for 23.54% of the total circular knitting machine exports in that year, and the export value was US$391.56 million, accounting for 1.02% of the total export value. In 2021, China exported 8,242 circular knitting machines to India, accounting for 8.48% of the total export volume with an export value of US$ 65,277,900, or 17.06% of the total export value.
With China's technological advancement, the production of circular knitting machines is gradually developing from the middle and low end to the middle and high end, and the trend of digitalization, intelligence and grid is obvious. CRI expects that the global knitting machine market will continue to grow from 2023-2032, which is conducive to promoting the rise of China's circular knitting machine export volume.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook