Press release
Footwear Manufacturing Machines Market to Reach $23.37 Billion by 2025, at a 4.3% CAGR | Top Impacting Factors
The report offers a detailed analysis of changing market dynamics, key segments, top winning strategies, and competitive landscape. According to the report, the global footwear manufacturing machinery market generated $16.83 billion in 2017 and is estimated to reach $23.37 billion by 2025, registering a CAGR of 4.3% from 2018 to 2025.
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The product segment to be lucrative
The product segment accounted for nearly nine-tenths of total market share in 2017 and is expected to dominate throughout the forecast period. Moreover, this segment is expected to grow at the highest CAGR of 4.71% from 2018 to 2025. This is due to rise in investment in footwear making machines, increase in production capacity, and improvement in product quality. The research also analyzes the services segment.
The semi-automatic segment to maintain its dominance by 2025
Based on machine type, the semi-automatic segment contributed to nearly half of the total market share in 2017 and is expected to maintain its dominance by 2025. This is due to its properties such as ease in operation and increase in precision in operation with human intervention. However, the automatic segment is estimated to grow at the highest rate, with a CAGR of 4.92% from 2018 to 2025, owing to significant rise in demand for technologically advanced machines and its characteristics such as high operational speed and reduction in time consumption.
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Asia-Pacific to lead in terms of revenue throughout the forecast period
Asia-Pacific contributed to more than three-fourths of the total market share in 2017 and is expected to lead throughout the forecast period. This is due to increase in presence of key footwear manufacturers in the region and considerable rise in population. However, Europe is expected to register the fastest growth with a CAGR of 4.75% from 2018 to 2025, owing to changes in fashion trends leading to increase in demand and need for innovative products.
Leading market players
Key market players analyzed in the research include ALC Tecnologie Adesive S.r.l., Brustia Alfameccanica S.r.l., Atom S.p.A, Comelz S.p.A, Comec, Elitron IPM S.r.l., Dongguan Kingstone Shoe-making Machinery Co. Ltd., Orisol Taiwan Ltd., Kou Yi Iron Works Co., Ltd., and True Ten Industrial Co., Ltd.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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