Sewing Machine Market
Asia-Pacific was the highest revenue-generating market, owing to rise in technological advancement of sewing machines and rapid penetration in the market
POTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, July 18, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research titled, “Sewing Machine Market by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2027,” the sewing machine market size was valued at $4,975.2 million in 2019, and is projected to reach $6,509.8 million by 2027, growing at a CAGR of 6.10% from 2021 to 2027.. In 2019, Asia-Pacific accounted for the largest share of around 39.7%, due to collaboration of machines with digitalization by key players that provides convenience, flexibility, accessibility as well as technological advancements in products. However, emerging countries in North America are anticipated to witness increase sewing machine market demand during the forecast period, owing to technological innovations and advancements in the product that has been lucrative toward a wide range of consumers such as professionals, experts as well as many industries such as fashion and textiles, in the sewing machine market.
Growth in value sales for the sewing machine market is attributable to various advantages such as convenience in use, precision and flexibility. Considering various advantages such as availability of raw material and labor, governments in regions such as Asia- Pacific, are investing and promoting their textile industries in this region. Hence, the demand for sewing machines is increasing as well as boosting the market in the region. North America region has seen growing preference for in-house textile manufacturing, which is showing a huge demand for the sewing machine market in the region. Moreover, presence of a robust textile industry has been contributing demand in market in Europe region.
Ask for sample copy of this report >> > https://www.alliedmarketresearch.com/request-sample/11817
Sewing machine has witnessed higher rate of penetration in North America as well as Europe region. However, low availability has been observed for these products in some major parts of LAMEA region, which is attributable to low performing macro-economic factors such as internet penetration and aggressive marketing strategies by the manufacturers. Thus, lower penetration of such products limits the sewing machine market growth.
The global sewing machine industry is segmented by product into mechanical, electronic, and embroidery. Among the three types, the electronic segment accounted for a larger share of around 51.3% of the overall market in 2019. This segment is further expected to capture a larger sewing machine market share in 2027, owing to increase in demand for sewing machine. This segment is anticipated to witness faster growth in developed economies, and is expected to account for 55.9% of the overall market by 2027.
On the basis of application, the industrial segment dominated the global market in 2019, and is expected to retain its dominance throughout the sewing machine market forecast period.
On the basis of distribution channel, the market is segregated into offline and online. The online segment is expected to account for 58.4% of the overall market revenue by 2027.
Buy The Report And Grab This Opportunity:- https://www.alliedmarketresearch.com/checkout-final/902d62108da2957df22353374b09e54c
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.
The key players profiled in the sewing machine analysis includes Bernina International AG, Brother Industries, Ltd, Janome Sewing Machine Co Ltd, JUKI Corporation, Merrow Sewing Machine Company, Mitsubishi Electric Corporation, Necchi Italia S.r.l., Singer India Limited, Tacony Corporation, and Usha International Limited.
Get detailed COVID-19 impact analysis@ Request For Customization>>> https://www.alliedmarketresearch.com/request-for-customization/11817?reqfor=covid
FREQUENTLY ASKED QUESTIONS?
Q1. What is the total market value of the Sewing Machine Market report?
Q2. What would be the forecast period in the Sewing Machine Market report?
Q3. Which is the base year calculated in the Sewing Machine Market report?
Q4. Which are the top companies hold the market share in the Sewing Machine Market?
Q5. Which is the most influencing segment growing in the Sewing Machine Market report?
Reasons to buy:
• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.
SIMILAR REPORTS :-
Functional Workwear Apparel Market https://www.alliedmarketresearch.com/functional-workwear-apparel-market-A14399
Outdoor Jacket Market https://www.alliedmarketresearch.com/outdoor-jacket-market-A16181
Allied Analytics LLP
email us here
Visit us on social media: