The Leather Tanning Machinery Market is being driven by Durability of leather products translating into product value for customers
The Leather Tanning Machinery Market is expected to grow at a CAGR of 3.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 17345.7 thousand. In the luxury leather goods market, the rising demand for high-end leather handbags, driven by their exclusivity and desirability, has resulted in escalating prices. To cater to diverse customer segments and buying powers, companies are introducing affordable luxury products. Gucci, a renowned luxury brand under Kering, has adopted a strategic approach to its product assortment in China. Instead of a uniform brick-and-mortar expansion, Gucci has tailored its offerings to urban classes. In tier 2 cities, where customers have less affluence, the brand prioritizes comparatively affordable leather goods and accessories, contrasting the major markets like Beijing and Shanghai, where customers possess higher spending power.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
203 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.3% |
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Market growth 2025-2029 |
USD 17345.7 thousand |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
3.2 |
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Key countries |
US, China, Canada, UK, Japan, India, Germany, France, South Korea, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Leather Tanning Machinery Market caters to various industries, including Furniture, Footwear, Leather Goods, and Garments. This market is essential for transforming raw hides and skins from animals into tanned hides through the process of tanning. Leather Tanning Machinery plays a crucial role in preserving the protein structure of hides and imparting desired colors through processes like chromium tanning, resulting in wet blue hides for further processing in Furniture production.
The global industrial machinery and supplies market encompasses businesses involved in the production of machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and metal fabrications, for the furniture industry and footwear sectors. According to Technavio's market analysis, the expansion of industrial output in process and discrete industries, driven by the increasing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing countries, will fuel the growth of this market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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