Sewing Machine Market Size to Grow by USD 11.96 bn During 2020-2024

Technavio has been monitoring the sewing machine market and it is expected to grow by USD 11.96 bn, accelerating at a CAGR of almost 11% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Sewing Machine Market: APAC to lead market growth during the forecast period

• 52% of the market growth will originate from APAC during the forecast period.
• Emergence of automated sewing machines will be a key trend that will influence market growth significantly.
• The Rapid growth in apparel industry will be a significant factor in driving the growth of the sewing machine market.

Sewing Machine Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Ares Capital Corp., BERNINA International AG, Brother International Corp., China Feiyue USA Inc., JACK Sewing Machine Co. Ltd., JANOME SEWING MACHINE Co. Ltd., JUKI Corp., Mitsubishi Electric Corp., Shang Gong Group Co. Ltd., and ZOJE SEWING MACHINE Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Sewing Machine Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive sewing machine market growth during the next five years
• Precise estimation of the sewing machine market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the sewing machine market industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of sewing machine market vendors

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerate at a CAGR of almost 11%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by USD 11.96 bn through 2020-2024.
    
3. What is a key factor driving this market?
   rapid growth in apparel industry will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, APAC, Europe, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   52% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are Ares Capital Corp., BERNINA International AG, Brother International Corp., China Feiyue USA Inc., JACK Sewing Machine Co. Ltd., JANOME SEWING MACHINE Co. Ltd., JUKI Corp., Mitsubishi Electric Corp., Shang Gong Group Co. Ltd., and ZOJE SEWING MACHINE Co. Ltd.
    
7. What are the market segments covered in this report?
   The market is segmented by Application (Apparel, Shoes, Bags, and Others), End-user (Industrial and Household), and Geography (APAC, North America, Europe, South America, and MEA)