Global Sewing Machines market is expected to reach 6460.17 Million USD by the end of 2024
Published Date: 2018/12/25
Sewing machines are used in the clothing and other related industries, such as upholstery sewing for furniture. The sewing machines have been in active use for manufacturing not only apparel such as clothing and underwear but also bags, shoes, car seats and sofa, etc. As the sewing machines downstream application, apparel is its largest downstream market.
The sales of sewing machines is distribution in USA, Europe, China and Asia (Ex. China). China is the largest consumption region of sewing machines in the world and it will keep the same position in the next few years. The China market will take about 23.8% in 2018. China is the world's largest sewing production area too, the management of sewing factories has come up against huge challenges in recent years because of steeply rising personnel costs and shortages of labor.
The global consumption of sewing machines will reach about 16.6 Million Units in 2018 from 15.7 Million Units in 2013 with an average growth rate of 1.13%.
Brother, Feiyue. Juki Corporation, Jack and ZOJE are the key suppliers in the global sewing machines. Top five companies will take up about 36%. Juki Corporation is the leading manufacturer in sewing machines industry. And it will take up about 12.5% in 2018.
The sewing machines industry is highly competitive due to low entry barriers as the industry is less capital intensive and there is no major technology involved.
The global Sewing Machines market is valued at 5377.17 Million USD in 2017 and is expected to reach 6460.17 Million USD by the end of 2024, growing at a Growth Rate of 2.66% between 2017 and 2024.
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