This article provides a comprehensive analysis of the United Kingdom’s knitting machines market in 2024, with forecasts to 2035. It details a significant one-year surge in consumption and production in 2024, though long-term trends show a market still recovering from a peak in 2013. The market is forecast to grow slowly in volume (CAGR +0.8%) and value (CAGR +1.3%) through 2035. The report also examines trade, noting a sharp decline in imports and a dramatic collapse in export volume, alongside skyrocketing average export prices due to a shift in product mix. Key suppliers include China, Germany, and Japan, while the United States is the leading export destination.<\/p>\n
Key Findings<\/p>\n
UK market consumption and production spiked dramatically in 2024 but remain well below 2013 peaksThe market is forecast for modest growth to 2035 with a +0.8% volume and +1.3% value CAGRImports have fallen sharply, with Japan, Germany, and Taiwan (Chinese) being the leading value suppliersExports collapsed in volume by -98.4% in 2024, but average unit price surged over 4,400%The United States is the primary export destination by volume and value, followed by Turkey and FranceMarket Forecast<\/p>\n
Driven by rising demand for knitting machines in the UK, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market volume to 46K units by the end of 2035.<\/p>\n
In value terms, the market is forecast to increase with an anticipated CAGR of +1.3% for the period from 2024 to 2035, which is projected to bring the market value to $47M (in nominal wholesale prices) by the end of 2035.<\/p>\n
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ConsumptionUnited Kingdom’s Consumption of Knitting Machines<\/p>\n
In 2024, the amount of knitting machineses consumed in the UK skyrocketed to 42K units, picking up by 120% compared with 2023 figures. In general, consumption, however, recorded a abrupt decline. Over the period under review, consumption reached the maximum volume at 132K units in 2013; however, from 2014 to 2024, consumption failed to regain momentum.<\/p>\n
The size of the knitting machines market in the UK surged to $40M in 2024, rising by 125% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a abrupt curtailment. Knitting machines consumption peaked at $102M in 2013; however, from 2014 to 2024, consumption failed to regain momentum.<\/p>\n
ProductionUnited Kingdom’s Production of Knitting Machines<\/p>\n
In 2024, the amount of knitting machineses produced in the UK soared to 29K units, growing by 50% on the previous year’s figure. Over the period under review, production, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2022 when the production volume increased by 3,904,700% against the previous year. Knitting machines production peaked at 106K units in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure.<\/p>\n
In value terms, knitting machines production surged to $336M in 2024 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2022 with an increase of 4,646,313% against the previous year. Knitting machines production peaked at $880M in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure.<\/p>\n
ImportsUnited Kingdom’s Imports of Knitting Machines<\/p>\n
In 2024, overseas purchases of knitting machineses decreased by -24.3% to 13K units, falling for the fourth year in a row after three years of growth. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 108%. As a result, imports attained the peak of 98K units. From 2017 to 2024, the growth of imports remained at a somewhat lower figure.<\/p>\n
In value terms, knitting machines imports declined dramatically to $23M in 2024. Over the period under review, imports saw a perceptible contraction. The pace of growth was the most pronounced in 2022 when imports increased by 76% against the previous year. As a result, imports reached the peak of $36M. From 2023 to 2024, the growth of imports remained at a lower figure.<\/p>\n
Imports By Country<\/p>\n
China<\/a> (2.9K units), Germany<\/a> (2.8K units) and Japan<\/a> (2.2K units) were the main suppliers of knitting machines imports to the UK, with a combined 58% share of total imports. Vietnam<\/a>, Turkey<\/a>, Taiwan (Chinese) and the United States<\/a> lagged somewhat behind, together comprising a further 38%.<\/p>\n From 2013 to 2024, the biggest increases were recorded for Vietnam (with a CAGR of +9.2%), while purchases for the other leaders experienced a decline.<\/p>\n In value terms, Japan ($6.1M) constituted the largest supplier of knitting machineses to the UK, comprising 27% of total imports. The second position in the ranking was taken by Germany ($2.7M), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.<\/p>\n From 2013 to 2024, the average annual growth rate of value from Japan totaled -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.6% per year) and Taiwan (Chinese) (+9.4% per year).<\/p>\n Import Prices By Country<\/p>\n The average knitting machines import price stood at $1.7 thousand per unit in 2024, with an increase of 10% against the previous year. Overall, the import price recorded a prominent increase. The growth pace was the most rapid in 2022 an increase of 175% against the previous year. Over the period under review, average import prices hit record highs in 2024 and is likely to continue growth in the immediate term.<\/p>\n There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Taiwan (Chinese) ($2.9 thousand per unit), while the price for Turkey ($394 per unit) was amongst the lowest.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.<\/p>\n ExportsUnited Kingdom’s Exports of Knitting Machines<\/p>\n In 2024, knitting machines exports from the UK reduced sharply to 295 units, with a decrease of -98.4% on 2023 figures. Over the period under review, exports saw a sharp descent. The pace of growth was the most pronounced in 2019 with an increase of 167%. The exports peaked at 53K units in 2014; however, from 2015 to 2024, the exports stood at a somewhat lower figure.<\/p>\n In value terms, knitting machines exports dropped sharply to $8.9M in 2024. In general, exports saw a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of 30% against the previous year. As a result, the exports reached the peak of $29M. From 2015 to 2024, the growth of the exports remained at a lower figure.<\/p>\n Exports By Country<\/p>\n The United States<\/a> (155 units) was the main destination for knitting machines exports from the UK, with a 53% share of total exports. Moreover, knitting machines exports to the United States exceeded the volume sent to the second major destination, Germany (57 units), threefold. Lithuania<\/a> (12 units) ranked third in terms of total exports with a 4.1% share.<\/p>\n From 2013 to 2024, the average annual growth rate of volume to the United States amounted to -26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-30.0% per year) and Lithuania (-32.5% per year).<\/p>\n In value terms, the United States ($1.4M) remains the key foreign market for knitting machineses exports from the UK, comprising 15% of total exports. The second position in the ranking was held by Turkey ($655K), with a 7.3% share of total exports. It was followed by France<\/a>, with a 5.1% share.<\/p>\n From 2013 to 2024, the average annual rate of growth in terms of value to the United States amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-12.0% per year) and France (-10.9% per year).<\/p>\n Export Prices By Country<\/p>\n The average knitting machines export price stood at $30 thousand per unit in 2024, surging by 4,465% against the previous year. Over the period under review, the export price enjoyed a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.<\/p>\n There were significant differences in the average prices for the major external markets. In 2024, amid the top suppliers, the country with the highest price was Turkey ($328 thousand per unit), while the average price for exports to South Korea<\/a> ($1.3 thousand per unit) was amongst the lowest.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Ireland<\/a> (+67.4%), while the prices for the other major destinations experienced more modest paces of growth.<\/p>\n