Rapid growth of textile industry, availability of digital sewing machines, and rise in the demand for industrial sewing machines in developing industry drive the global sewing machine market. Moreover, the market across the Asia-Pacific region has dominated with highest market share in 2019, and is expected to lead throughout the forecast period.
portland, OR, June 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sewing machine industry was estimated at $4.97 billion in 2019, and is projected to hit $6.50 billion by 2027, manifesting a CAGR of 6.1% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rapid growth of textile industry, availability of digital sewing machines, and rise in the demand for industrial sewing machines in developing industry drive the global sewing machine market. However, feeble trade policies worldwide and high price of industrial sewing machines restrain the growth to some extent. On the other hand, technological advancements in industrial sewing machines are expected to present lucrative opportunities for the key players in the industry.
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Change in consumer behavior and manufacturing trends during covid-19 has impacted the market as the manufacturing units were instructed to halt their activities during the initial phase of the lockdown.
However, the government bodies have eased off the existing regulations to cooperate the industry in economic terms, and the market is expected to revive soon.
The sewing machine market is segmented on the basis of product type, application, distribution channel, and region.
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Based on application, the market is classified into domestic and industrial. The industrial segment held the major share in 2019, with around two-thirds of the global sewing machine market. Nevertheless, the domestic segment is projected to exhibit the fastest CAGR of 6.3% during the forecast period.
Based on distribution channel, the online segment dominated with more than half of the global sewing machine market share in 2019, and is expected to rule the roost by the end of 2027. Furthermore, the segment would also manifest the fastest CAGR of 7.1% throughout the forecast period. The report also studies offline segment.
Based on region, the market across Asia-Pacific contributed to the highest share in 2019, with nearly two-fifths of the global sewing machine market. In addition, the region is also expected to manifest the fastest CAGR of 6.8% from 2021 to 2027. The report also studies the market across North America, Europe and LAMEA.
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The key market players profiled in the global market include Merrow Sewing Machine Company, Mitsubishi Electric Corporation, Necchi Italia S.r.l., Bernina International AG, Brother Industries, Ltd, Janome Sewing Machine Co Ltd, JUKI Corporation, Singer India Limited, Tacony Corporation, and Usha International Limited.
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