Post-pandemic Market Good News: Industrial Sewing Machines Application and Replacement

2021-06-09

Sewing machinery downstream is the global garment processing and manufacturing industry, which is highly affected. The prosperity of the global garment processing industry can be directly reflected in the total amount of garment exports. This is because East Asia, Southeast Asia, South Asia and other regions have become the main garment export bases, and their output is closely related to the export volume.

However, the growth rate of global garment export volume rebounded slightly in 2016 and is expected to rebound significantly in 2017. This indicator shows a certain degree of synergy with the global macro-economy, but it also has its own characteristics: first, the fluctuation range is larger, such as the financial crisis in 2009 and the global economy downturn again in 2012. In these two years, the growth rate of global clothing exports declined significantly; Second, almost no two years remain negative. This is because there is a certain rigidity in clothing demand (it can be seen from the proportion of clothing consumption in per capita consumption that the proportion of Japan and the United States has stabilized at 4% and 3% respectively in recent years, and that of China has stabilized at about 10%). Under the background of positive global economic growth, the overall clothing demand is still rising.

In the 2019-2021 year of the outbreak of COVID-19, the same situation appeared again in the market. I believe that in the next 2022 years, with the control of the epidemic situation, the Industrial Sewing Machine will usher in the new and replacement peak again.

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Mr. Alston Chen

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