Sewing Machine Market to Register Almost $12 Billion Growth Despite COVID-19 Spread | Includes Business Continuity Plan for the New Normal | Technavio

·6 min read

The global sewing machine market is expected to register an incremental growth of by USD 11.96 bn, at a CAGR of almost 11% during 2020-2024. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is expected to have a negative impact due to the spread of the COVID-19 pandemic. The imposition of lockdown across the world led to the complete shutdown of businesses and many manufacturing facilities were compelled to halt their operations. This led to a decline in the supply and demand for sewing machines in the short term. However, the market is expected to post healthy growth during the forecast period with situations getting back to normal worldwide.

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Technavio has announced its latest market research report titled Global Sewing Machine Market 2020-2024 (Graphic: Business Wire)

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Ares Capital Corp., BERNINA International AG, Brother International Corp., China Feiyue USA Inc., JACK Sewing Machine Co. Ltd., JANOME SEWING MACHINE Co. Ltd., JUKI Corp., Mitsubishi Electric Corp., Shang Gong Group Co. Ltd., and ZOJE SEWING MACHINE Co. Ltd. are among some of the major market participants.

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Rapid growth in the apparel industry has been instrumental in driving the growth of the market. However, the availability of counterfeit sewing machines might hamper the market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Request a Free Sample Report on COVID-19 Impacts

Sewing Machine Market 2020-2024: Segmentation

Sewing Machine Market is segmented as below:

  • Application

    • Apparel

    • Shoes

    • Bags

    • Others

  • End-user

    • Industrial

    • Household

  • Geography

    • APAC

    • North America

    • Europe

    • South America

    • MEA

Over 52% of the market's growth is expected to originate from APAC during the forecast period. The strong penetration of the apparel and shoe industries is fostering the growth of the market in APAC.

Based on the application, the apparel segment offered maximum opportunities for market players in 2019. Increasing marketing efforts by major apparel brands have been driving the sales of apparel. This is one of the key factors driving the segment growth.

Sewing Machine Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The sewing machine market report covers the following areas:

  • Sewing Machine Market Size

  • Sewing Machine Market Trends

  • Sewing Machine Market Industry Analysis

This study identifies the emergence of automated sewing machines as one of the prime reasons driving the Sewing Machine Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Sewing Machine Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist sewing machine market growth during the next five years

  • Estimation of the sewing machine market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the sewing machine market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of the sewing machine market vendors

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Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Application

  • Market segments

  • Comparison by Application placement

  • Apparel - Market size and forecast 2019-2024

  • Shoes - Market size and forecast 2019-2024

  • Bags - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by Application

Market Segmentation by End-user

  • Market segments

  • Comparison by End user placement

  • Industrial - Market size and forecast 2019-2024

  • Household - Market size and forecast 2019-2024

  • Market opportunity by End user

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver - Demand led growth

  • Volume driver - Supply led growth

  • Volume driver - External factors

  • Volume driver - Demand shift in adjacent markets

  • Price driver - Inflation

  • Price driver - Shift from lower to higher-priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Ares Capital Corp.

  • BERNINA International AG

  • Brother International Corp.

  • China Feiyue USA Inc.

  • JACK Sewing Machine Co. Ltd.

  • JANOME SEWING MACHINE Co. Ltd.

  • JUKI Corp.

  • Mitsubishi Electric Corp.

  • Shang Gong Group Co. Ltd.

  • ZOJE SEWING MACHINE Co. Ltd.

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005775/en/

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