Dublin, March 11, 2022 (GLOBE NEWSWIRE) — The “Sewing Machines – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global sewing machine market to reach $4.2 billion by 2026
The global sewing machine market, estimated at US$3.3 billion in 2020, is expected to reach a revised size of US$4.2 billion by 2026, growing at a CAGR of 4.3% on the period of analysis.
Apparel, one of the end-use segments analyzed in the report, is expected to register a CAGR of 4.7% and reach US$2.7 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the non-apparel end-use segment is readjusted to a revised CAGR of 3.8% for the next 7-year period.
The US market is estimated at $591.5 million in 2021, while China is expected to reach $1.5 billion by 2026
The sewing machine market in the United States is estimated to be worth US$591.5 billion in 2020. China, the world’s second largest economy, is expected to reach a projected market size of US$1.5 billion by 2026 , with a CAGR of 5.4% over the analysis period. Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 3.1% and 3.2% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of around 2.6%.
Growing global population, increasing disposable income, and strong demand for accessories and apparel are the major drivers for the growth of the sewing machine market. The long-term growth of the market will be driven by factors such as growing demand for advanced and feature-rich sewing machines, launch of various innovative technologies and software, and rise of sewing as a hobby among new sewing enthusiasts. Growing consumer preference for sophisticated features and functions will drive the demand for smart sewing machines in the coming years.
Industrial Sewing Machines Will Hit $2.4 Billion By 2026
The global industrial sewing machine market is estimated at US$1.9 billion in 2020 and is expected to reach US$2.4 billion by 2026, reflecting a compound annual growth rate of 4.9% over the period analysis.
China is the largest regional market for the industrial segment, accounting for 47.4% of global sales in 2020. China is poised to register the fastest compound annual growth rate of 5.6% over the period. analytics, to reach $1.2 billion by 2026.
Main topics covered:
1. MARKET OVERVIEW
- Impact of the COVID-19 pandemic and the impending global recession
- The textile industry remains hard hit by the pandemic
- COVID-19 inflicts massive damage on the global textile machinery industry
- Sewing business rises to prominence amid pandemic, providing opportunities for home sewing machines
- The global economy is staring at an impending crisis
- Household sewing machines
- Industrial sewing machines
- Sewing Machines: Provide unlimited creativity for industrial users, quilters, home decor sewers and fashion enthusiasts.
- Industrial sewing machines dominate the global market
- Developing economies to drive long-term growth
- Select popular sewing machines
- Global brands
- Recent market activity
2. FOCUS ON CERTAIN PLAYERS(Total 104 featured)
- Aisin Seiki Co., Ltd.
- Baby Lock
- Brother Industries, Ltd.
- Brother International Corporation
- Bernina International AG
- Jaguar International Corporation
- Janome Sewing Machine Co., Ltd.
- Elna International Corp. HER
- Juki Corporation
- Kaulin Manufacturing Co., Ltd./Siruba
- Merrow Inc.
- Million Special Industries Co.,Ltd
- Jack Sewing Machine Co., Ltd.
- Sewing machine Pegasus Mfg. Co., Ltd.
- Rimoldi & CF srl
- SEIKO Sewing Machine Co., Ltd.
- SGSB Group Co., Ltd
- Global Vice President
- Singer Sewing Company
- TAJIMA Group
- Xi’an Typical Industries Co. Ltd.
- Zhejiang Doso Sewing Machine Co., Ltd.
3. MARKET TRENDS AND DRIVERS
- Growing demand for advanced and feature-rich sewing machines to generate healthy long-term earnings
- Energy efficiency: a key factor for technological innovation
- Computerized Sewing Machines: Major Innovation Fueling Market Growth
- Innovative embroidery software creates significant market opportunities
- The rise of sewing as a leisure activity among new sewing enthusiasts is driving demand for home sewing machines
- Key Buying Considerations for Pros and Newbies
- The growing interest of DIYers promises great prospects for the market
- Friendly templates for new sewing enthusiasts to drive adoption
- Specialized sewing machines for sewing, repairing and attaching leather products are gaining in importance
- Apparel Demand and Textile Industry Trends Affect the Demand for Industrial Sewing Machines
- With apparel and textile manufacturing halted due to the COVID-19 outbreak, the impact is imminent on sewing machine sales
- Fashion-conscious women trigger changes in player strategies
- Automobile sales and production pick up to fuel demand for car hoods and upholstery sewing machines
- Technical textiles present opportunities for the industrial sewing machine market
- Embroidery machines: enabling craftsmanship in the fashion industry
- Factors determining the choice of a suitable embroidery machine
- Industry 4.0 unites connectivity, flexible automation and intelligence
- Robotic Tailoring: Future of Fashion to Propel Market Growth
- The transformational impact of sewing robots
- Automation of sewing process flows is gaining momentum
- Latest technological developments in the sewing machine market
- The market will benefit from the emergence of new sewing machines with various features
- Innovations and Advancements in Sewing Machines to Drive Market Growth
- Advanced PC and Wi-Fi Sewing Machines
- Machines with built-in needle threader, top loading and plug-in bobbin systems
- Sewing machines for sewing robots, implantable systems and portable electronics
- Digitally advanced sewing machines
- High speed sewing machines
- Stitch regulator technologies to master free-motion techniques
- Online marketing increases market competition
- Demographics Influence Industry Dynamics
- World population growth
- Women: the largest household sewing machine consumer base
- Booming middle class population
- Operator safety: a major challenge for the sewing machine market
4. GLOBAL MARKET OUTLOOK
III. REGIONAL MARKET ANALYSIS
For more information on this report, visit https://www.researchandmarkets.com/r/5syxqi