According to a new report, published by KBV research, The Global Sewing Machine Market size is expected to reach $5.9 billion by 2028, rising at a market growth of 5.7% CAGR during the forecast period.
The Computerized segment is showcasing a CAGR of 6.1% during (2022 - 2028). Sewing machines, which can connect to the internet, a computer, or design loaded cards are known as computerized sewing machines. These machines work best in industrial environments. The stitch capacity of these sewing machines ranges from 50 to 200 stitches. The best and fastest stitching is possible using a computerized machine. Textile factories pick automated equipment because of these attributes, contributing to the market's development pace.
The Industrial segment acquired maximum revenue share in the Global Sewing Machine Market by Application in 2021, thereby, achieving a market value of $4.0 billion by 2028. This is due to the incredible growth of the textile industry as a result of rising demands for clothing and shoes. Industrial sewing machines, unlike commercial and household sewing machines, are built to last. The alteration and tailoring industry are a big part of this segment. The treads and table adjustability are features of the sewing machines utilized for these applications.
The Shoes market has shown growth rate of 6.6% during (2022 - 2028). This is due to the rise in demand for shoes as a result of the increasing disposable income of the population. The changing lifestyle of the population is also credited with this rise. People now buy shoes for every occasion to keep up with the trend. Manufacturers are turning to sewing machines to meet the rising demand for shoes.
The Asia Pacific market dominated the Global Sewing Machine Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.3 billion by 2028. The Europe market is estimated to witness a CAGR of 5.2% during (2022 - 2028). Additionally, The North America market would display a CAGR of 5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/sewing-machine-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Mitsubishi Electric Corporation, Juki Corporation, Brother Industries, Ltd., Bernina International AG, Janome Corporation, Merrow Sewing Machine Co., Necchi Italia s.r.l., SVP-Singer Holdings, Inc., Tacony Corporation, and Usha International Ltd.
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