Sewing Machine Market to Witness Comprehensive Growth by 2027| Bernina International AG, Brother Industries

According to the report published by Allied Market Research, the global sewing machine industry was estimated at $4.97 billion in 2019, and is projected to hit $6.50 billion by 2027, manifesting a CAGR of 6.1% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Rapid growth of textile industry, availability of digital sewing machines, and rise in the demand for industrial sewing machines in developing industry drive the global sewing machine market. However, feeble trade policies worldwide and high price of industrial sewing machines restrain the growth to some extent. On the other hand, technological advancements in industrial sewing machines are expected to present lucrative opportunities for the key players in the industry.

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Based on application, the market is classified into domestic and industrial. The industrial segment held the major share in 2019, with around two-thirds of the global sewing machine market. Nevertheless, the domestic segment is projected to exhibit the fastest CAGR of 6.3% during the forecast period.

Based on distribution channel, the online segment dominated with more than half of the global sewing machine market share in 2019, and is expected to rule the roost by the end of 2027. Furthermore, the segment would also manifest the fastest CAGR of 7.1% throughout the forecast period.

The report also studies offline segment.
Based on region, the market across Asia-Pacific contributed to the highest share in 2019, with nearly two-fifths of the global sewing machine market. In addition, the region is also expected to manifest the fastest CAGR of 6.8% from 2021 to 2027. The report also studies the market across North America, Europe and LAMEA.

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The key market players profiled in the global market include

Merrow Sewing Machine Company
Mitsubishi Electric Corporation
Necchi Italia S.r.l.
Bernina International AG
Brother Industries, Ltd
Janome Sewing Machine Co Ltd
JUKI Corporation
Singer India Limited
Tacony Corporation
Usha International Limited

Key Findings Of The Study

In 2019, Asia-Pacific was the highest revenue-generating market, owing to rise in technological advancement of sewing machines and rapid penetration in the market
North America has emerged to be the second largest market with the U.S. and Canada accounting for prominent shares of the overall market, by value.
The Electronics segment has emerged to be the most prominent segment, owing to rise in demand for sewing machine.
North America is expected to witness fastest growth from 2019 to 2027, owing to high living standards and noticeable economies such as U.S. and Canada.

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Know More https://www.globenewswire.com/news-release/2021/06/23/2251526/0/en/Global-Sewing-Machine-Market-to-Reach-6-50-Billion-Says-Allied-Market-Research.html

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