Sewing Machine Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Sewing Machine Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.8 billion In 2028 At A CAGR Of 6.5% :

The sewing machine market size has grown strongly in recent years. It will grow from $4.97 billion in 2023 to $5.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth in the fashion and apparel industry, expansion of home sewing and diy crafting activities, increased disposable income and consumer spending on apparel, demand for industrial sewing machines in manufacturing, emphasis on textile and leather industries, rise in popularity of customized and tailored clothing.

The sewing machine market size is expected to see strong growth in the next few years. It will grow to $6.8 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to adoption of computerized and automated sewing machines, expansion of sewing machine markets in emerging economies, research and development in sustainable sewing technologies, need for specialized machines for technical textiles, emphasis on compact and portable sewing machines, growing demand for smart and connected sewing machines. Major trends in the forecast period include computerized and programmable machines, smart and iot-enabled sewing machines, high-speed industrial sewing machines, integration of ai for pattern recognition, eco-friendly and sustainable sewing practices.

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Sewing Machine Market Major Segments
The sewing machine market covered in this report is segmented -

1) By Type: Mechanical, Electronic, Automated, Embroidery, Overlock, Others
2) By Distribution Channel: Online, Offline
3) By Application: Apparel, Shoes, Bags
4) By End-Users: Household, Commercial, Industrial

Key Driver - Textile Industry Growth Fuels Expansion Of The Sewing Machine Market

The rapid growth of the textile industry is contributing to the growth of the sewing machine market. Textile refers to a fabric (woven or knitted) made from yarn. A sewing machine is used to stitch the fabric and other pliable materials together with threads. For instance, according to EduRev data for 2022, the Indian textiles market is expected to be worth more than $209 billion by 2029. According to Business Standard data for 2022, textile and apparel exports in India increased 41% in the April-December 2021 period as compared to previous year. The rapid growth of the textile industry will drive the sewing machine market.

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Prominent Trend - Innovative Technology Drives Advancements In The Sewing Machine Market

Technological advancement is a key trend gaining popularity in the sewing machine market. Companies are launching products with new technologies to increase revenues and gain customers. For instance, in January 2023, PFAFF, a Germany-based sewing machine manufacturer, launched a new short-seam automatic sewing machine called the PFAFF 3686. The PFAFF 3686 is designed for darts and waistband pleats, making it the most versatile and efficient short-seam automatic sewing machine on the market. The machine is available in different models with varying seam lengths. The PFAFF 3686-25/11 is capable of sewing darts and waistband pleats with up to 490 mm of seam length, while the PFAFF 3686-23/12 can handle seam lengths of up to 300 mm.

Sewing Machine Market Players
Major companies operating in the sewing machine market include Intel Corporation, Mediatek Inc, NVIDIA Corporation, Qualcomm Technologies Inc, Advanced Micro Devices Inc, Alphabet Inc, NXP Semiconductors N.V, Micron Technology Inc, IBM Corporation, Apple Inc, Huawei Technologies Co Ltd, Mythic Inc, Samsung Electronics Co ltd, LG Corporation, Google LLC, Advanced Micro Devices Inc, Baidu, MediaTek Inc, Mellanox Technologies, Xilinx Inc, Graphcore, Cerebras Systems, Habana Labs

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the sewing machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sewing machine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sewing Machine Market Report Structure
3. Sewing Machine Market Trends And Strategies
4. Sewing Machine Market - Macro Economic Scenario
5. Sewing Machine Market Size And Growth
…..
27. Sewing Machine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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