The Large Circular Knitting Machine Market is being driven by Health benefits of knitting and doing fiber crafts
The Large Circular Knitting Machine Market is expected to grow at a CAGR of 5.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 372.9 million. The large circular knitting machine market is experiencing a significant trend towards strategic collaborations between manufacturers and technology providers. A notable instance of this is the partnership forged in April 2024 between Santoni, an Italian circular knitting machine manufacturer, and Groz-Beckert, a prominent supplier of industrial machine needles and precision parts. This alliance culminated in the creation of the INNOTAS self-cleaning knitting system, a response to the escalating demand for sustainability and operational efficiency within the textile industry. The collaboration yielded the SAN DUO needle and SNK DUO-OL sinker, components that collectively form a self-cleaning mechanism, thereby reducing yarn soiling and enhancing overall machine performance.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Apparel and fashion, Technical textiles, Home textiles) Technology (Automatic or computerized circular knitting machines, Manual or mechanical circular knitting machines, Smart circular knitting machines) Geography (APAC, Europe, North America, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Large Circular Knitting Machine Market Research Report
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The circular knitting machine market is experiencing significant growth due to the increasing demand for knitted fabric clothes, driven by fashion trends and the rising disposable income of consumers. Circular knitting machines, which offer mass production capabilities, are becoming more cost-effective and sustainable, with a focus on waste reduction and eco-friendly practices. IoT technology, including sensors and digital controls, is revolutionizing the industry with features like real-time monitoring, automation, and error detection. Versatile machines produce a wide range of knitted garments, from T-shirts to sweaters, and can even incorporate antimicrobial properties and high-speed production. Tailored and personalized garments are also gaining popularity, with home knitting and remote monitoring options available for those seeking a more customized fit. Double-knitting machines offer additional benefits, such as producing seamless garments and reducing material waste. Overall, the market for circular knitting machines is expected to continue growing as fashion-conscious consumers seek cost-effective, efficient, and sustainable solutions.
The Large Circular Knitting Machine market is a significant segment of the expansive Global Industrial Machinery and Supplies and Components Market. This market encompasses businesses specializing in the manufacturing of circular knitting machines. According to Technavio, the Industrial Machinery and Supplies and Components Market's size is determined by the consolidated revenue of machinery and components' manufacturers catering to industrial applications. Key growth drivers for this market include the increasing demand for eco-friendly textiles, the rise of slow and ethical fashion trends, and the implementation of digital textile design and smart manufacturing techniques for cost-effective production. The global industrial sector's output growth, particularly in process and discrete industries, fuels this market's expansion. Developing countries' economic expansion drives the demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, leading to capacity additions in the textile industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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