LONDON--(BUSINESS WIRE)--Technavio has been monitoring the sewing machine market and it is poised to grow by USD 11.96 bn during 2020-2024, progressing at a CAGR of almost 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a negative impact on the sewing machine market. The market growth in 2020 is likely to increase compared to market growth in 2019.
Frequently Asked Questions:
Based on segmentation by application, which is the leading segment in the market?
What are the major trends in the market?
The emergence of automated sewing machines.
At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 4% during 2020-2024.
Who are the top players in the market?
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 the top players in the market.
What are the key market drivers and challenges?
The market is driven by the rapid growth of the apparel industry. However, the availability of counterfeit sewing machines might challenge the growth of vendors.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. The rapid growth in apparel industry will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this sewing machine market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Sewing Machine Market 2020-2024: Segmentation
Sewing Machine Market is segmented as below:
- North America
- South America
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Sewing Machine Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The sewing machine market report covers the following areas:
- Sewing Machine Market Size
- Sewing Machine Market Trends
- Sewing Machine Market Industry Analysis
This study identifies the emergence of automated sewing machines as one of the prime reasons driving the Sewing Machine Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Sewing Machine Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist sewing machine market growth during the next five years
- Estimation of the sewing machine market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the sewing machine market
- 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
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
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