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.
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Sewing Machine Market 2020-2024: Segmentation
Sewing Machine Market is segmented as below:
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:
Value chain analysis
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 Segmentation by Application
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
Comparison by End user placement
Industrial - Market size and forecast 2019-2024
Household - Market size and forecast 2019-2024
Market opportunity by End user
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
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 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.
Mitsubishi Electric Corp.
Shang Gong Group Co. Ltd.
ZOJE SEWING MACHINE Co. Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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