Tuesday, November 13, 2018
Sewing Machines Market Record remarkable hike in Revenues by 2026: Credence Research
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According to a new market
research report published by Credence Research “Sewing
Machines Market (Product Type – Industrial (Flat Bed, Post Bed,
Cylinder Bed and Off the Arm) and Home/Domestic (Manual, Electric, Computerized
and Over Locker); Application – Apparels, Shoes, Bags and Others; Sales Channel
– Online and Offline) – Growth, Future Prospects and Competitive Analysis, 2018
– 2026”, the global sewing machines market was valued at US$ 62.35 Bn in 2017
and will be growing at a CAGR of 4.6% during the forecast period from 2018 to
2026.
Browse the full report
at https://www.credenceresearch.com/report/sewing-machines-market
Market Insights
The sewing machines market was
valued at US$ 62.35 Bn in 2017 and expected to grow at a compounded annual
growth rate (CAGR) of 4.6% during the forecast period from 2018 to 2026.
Increasing popularity of DIY (do-it-yourself) culture is an important factor contributing
to the growth of the sewing machines market. People in order to give a
personalized touch to their garments, are increasingly practicing home arts
such as sewing and knitting. Moreover, sewing machines have witnessed
significant advancements in recent years. These advancements are focused upon
efficiency and precision. Another prominent factor aiding the sewing machines
market growth can be attributed to the declining cost of electronic sewing
machines. This has enabled its adoption even across households with modest
income. Furthermore, in coming years, the demand for industrial sewing machines
expected to be on the rise, mainly owing to fact that garment manufacturers are
increasingly opting for high end sewing machines with a focus to save time,
energy and reducing complexities.
In recent years, sewing machines
have witnessed significant technological advancements. The outburst of Industry
4.0 has further been an important contributor towards these advancements as a
result of which, apparel manufacturers are transitioning from manual sewing
machines to digital sewing machines. Moreover, it has also enabled sewing
machines to be bestowed with plethora of new features and functionalities. For
instance, recently, Kinoshita introduced sewing machines with automatic bobbin
changers. Similarly, the sewing machines market has witnessed other innovations
in the form of real-time monitoring in sewing machines, modular sewing
machines, convertibility in sewing machines, smart sewing machines and digital
feed system in sewing machines among others.
Asia Pacific stood as the largest
market for sewing machines in 2017. The presence of a large number sewing
machine manufacturers headquartered in the region is an important factor
propelling market growth in the region. Moreover, the fact that a large number
of apparel and non-apparel manufacturers operates out of the region has further
supported the demand for sewing machines in the region.
Some of the major players
operating in the sewing machines market include China Feiyue, Brother
Industries, Juki Corporation, Jack Sewing Corporation, SVP Worldwide, Singer,
Bernina International AG, Pegasus Sewing Machine Mfg. Co. Ltd., PFAFF
Industriesysteme und Maschinen GmbH and Million Special Industries Co. Ltd.
among others. Research and development is one of the most common strategies
adopted by the market players and it helps the companies to stay afloat in the
market by addressing the increasing competition.
For More Inquiry: https://www.credenceresearch.com/inquiry-before-buying/59420
About Us
Credence Research is a worldwide
market research and counseling firm that serves driving organizations,
governments, non-legislative associations, and not-for-benefits. We offer our
customers some assistance with making enduring enhancements to their execution
and understand their most imperative objectives. Over almost a century, we've
manufactured a firm extraordinarily prepared for this task.
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