Sewing Machine Market To Hit Value .0 Billion By 2028 |Grand View Research, Inc.

Posted by Mrudula Karmarkar on July 13th, 2022

The global sewing machine market size is expected to reach USD 6.0 billion by 2028, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Expansion of the clothing industry, changing consumer demand as per fashion trends, and demand for the mass clothing production are driving the market. Moreover, increasing population and rising disposable income are contributing to the industry growth.

Further, a rise in the usage of automation in the sewing sector is anticipated to increase the need for newer machines. Several businesses operating in the sector are witnessing shifts in their value chain owing to the adoption of 3D printing and AI. Advantages such as production efficiency, reduced downtime, and lower operating costs are supporting the demand for digitalization in the market.

Manufacturers are attempting to maintain their brand image and increase customer loyalty by introducing revolutionary sewing machine designs tailored to individual customer requirements and researching consumer behavior trends. The market's leading companies provide unique designs crafted from diamonds, gold, platinum, and other high-value materials.

Changing fashion styles, rising population, and availability of electrical and computerized machines are expected to promote the sewing machines market growth over the next few years. Additionally, the huge population demands mass production of the attires, which is one of the important factors which is expected to positively contribute to the market revenue.

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The COVID-19 pandemic outbreak resulted in lockdowns and restricted movement for people worldwide. The consequent sharp increase in time spent at home led people towards adopting new hobbies, including sewing, quilting, knitting, etc. Despite the supply chain disruptions, several players in the industry recorded increased sales during the pandemic, driven mainly by the residential segment.

Sewing Machine Market Report Highlights

• The electric segment dominated the market and contributed to the largest revenue share of more than 40.0% in 2021. Electric motors in the apparel business reduce labor requirements and help in bulk production
• The shoes segment is forecasted to witness the highest CAGR of over 8.0% from 2022 to 2028. Rapid expansion in the footwear industry is contributing to the growth rate of the segment
• The industrial application segment accounted for the largest revenue share of more than 60% in 2021. To satisfy the rising demand for clothes from the growing population, manufacturers are adopting electric and computerized sewing machines. Clothing manufacturers are interested to reduce complexity and save the time and energy required for production
• The commercial segment is forecasted to witness a CAGR of over 4.0% from 2022 to 2028. The segment majorly includes the altering and tailoring business. The sewing machines used for these applications have a feature of treads and table adjustable. The altering and tailoring business is growing, which, in turn, will drive the market
• Asia Pacific dominated the market and accounted for the largest revenue share of over 40% in 2021. The region is expected to witness the highest CAGR of over 6.0% from 2022 to 2028. Frequently changing styles of clothes and increasing disposable income of citizens are the driving factors in this region.

The market is characterized by the presence of various well-established players and several small and medium players. In August 2021, Brother International Corporation announced the release of sewing and crafting machines that can be helpful in serving entrepreneurs and crafters. Such measures should increase consumer adoption of the product. Manufacturers of sewing machines are rapidly expanding their geographic footprints using both organic and inorganic methods. Some of the prominent players in the sewing machine market include:

• Aisin Seiki Co., Ltd.
• AMF Reece CR, s.r.o.
• BERNINA International AG
• Brother International Corporation
• Dürkopp Adler AG
• Elna International Corp. SA
• Jack Sewing Machine Co., Ltd.
• Janome Sewing Machine Co., Ltd.
• Seiko Sewing Machine Co., Ltd.
• Pegasus Sewing Machine Mfg. Co., Ltd.