LONDON--(BUSINESS WIRE)--The sewing machine market will witness an incremental growth of USD 11.96 billion during 2020-2024, according to the latest pandemic recovery-based research report by Technavio. Factors such as imposition of worldwide lockdowns have partially halted operations and affected supply chains and logistics. This has further impacted economies around the globe, resulting in an overall slowdown during 2020. However, businesses are gradually carving out unique pathways to recover from the COVID-19 crisis. With the exemption of lockdowns, growing incorporation of active social distancing and remote working, and surging entries of players in digital marketplaces, various industry and market conditions are likely to improve by early 2021.
- Consumer Discretionary industry will have Negative impact due to the pandemic
- Sewing machine market is expected to witness Negative growth during 2020-2024
- Consumer Discretionary Industry will witness Indirect impact during the forecast period
- Sewing machine market growth is likely to Decrease in 2020 compared to 2019
Markets across the globe have faced the economic wrath of the pandemic and are dealing with uncertainties by banking on the online marketspace to reach out for a wider target audience. This sewing machine market research report encompasses all possible factors expected to drive the market growth and create opportunities for all the stakeholders in the supply chain. View detailed sewing machine market insights here: https://www.technavio.com/report/sewing machine market-industry-analysis
Key Sewing Machine Market Research Findings
- A CAGR of almost 11% is expected to be recorded in sewing machine market during 2020-2024
- Apparel segment will hold the largest market share. Vendors’ emphasis on customers’ preferences and brand promotions will increase the sales of apparel, which will drive the demand for advanced sewing machines in the region during the forecast period.
- APAC will account for the highest incremental growth. The penetration of the apparel and shoe industries are increasing will influence sewing machine market growth in this region significantly.
- Rapid growth in apparel industry will boost the sewing machine market growth
- Emergence of automated sewing machines will have a positive impact on the sewing machine market
- Availability of counterfeit sewing machines is likely to create hindrance for the sewing machine market
For accessing Technavio’s key findings about drivers, restraints, and opportunities shaping markets and industries toward an economic bounce back,
Sewing Machine Market Vendor Participation Scenario
- Market is Fragmented
- Several leading companies in the market are focusing on restoring their economic activity
- Rapid growth in apparel industry and emergence of automated sewing machines will offer immense growth opportunities
- Availability of counterfeit sewing machines impeding market growth
- Vendors are concentrating on growth prospects from fast-growing segments while retaining their positions in slow-growing segments.
- Prominent sewing machine market players 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.
With more companies navigating the pandemic gradually, this research analysis can be personalized to create a recovery path for the market participants. Try out our $1000 Worth Free Report Customization by Speaking to our Analyst or Industry Expert
Key Considerations for Market Forecast
- Products and services used to manage or contain the spread of COVID-19 virus
- Products and services used for the treatment of COVID-19 virus
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- and post-COVID 19 market estimates
- Quarterly impact analysis as the spread reaches global level and updates on market estimates
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Apparel - Market size and forecast 2019-2024
- Shoes - Market size and forecast 2019-2024
- Bags - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by End-user
- Market segments
- Comparison by End user placement
- Industrial - Market size and forecast 2019-2024
- Household - Market size and forecast 2019-2024
- Market opportunity by End user
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 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.
- ZOJE SEWING MACHINE Co. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.