Portland, OR, Oct. 05, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global industrial sewing machines market garnered $3.16 billion in 2019, and is projected to reach $3.96 billion by 2027, registering a CAGR of 5.3% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for trendy garments across the globe due to frequently changing fashion trends drives the growth of the global industrial sewing machines market. However, high cost associated with industrial sewing machines is anticipated to restrain the market growth. Furthermore, growing adoption of software-based computer-controlled industrial sewing machines is expected to provide new growth opportunities during the forecast period.
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Covid-19 scenario:
- Disrupted supply of machine components owing to travel restrictions and sluggish export-import activities amid lockdown due to Covid-19 pandemic have led several industrial sewing machines manufactrurers to slow or halt their operations.
- The industrial sewing machine demand is expected to grow significantly during the pandemic due to rise in demand for facemask and PPE kits globally.
The report offers a detailed segmentation of the global industrial sewing machines market based on fabric weight, bed type, application, and region.
Based on fabric weight, the medium weight segment contributed to the largest share in 2019, accounting for nearly two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the extra heavy weight segment is estimated to portray the highest CAGR of 7.6% during the forecast period.
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Based on bed type, the flat bed segment accounted for the largest share in 2019, holding more than two-thirds of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, it is expected to register the highest CAGR of 5.7% from 2020 to 2027.
Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is expected to grow at the highest CAGR of 6.1% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Leading market players analyzed in the research include AMF Reece CR, s.r.o., Juki Corporation, Brother Industries Ltd., BERNINA International AG, JACK Sewing Machine Co. Ltd., Dürkopp Adler AG, Pegasus Sewing Machine Mfg. Co., Ltd., Mitsubishi Electric Corporation, Yamato Sewing Machine Mfg. Co., Ltd, and SEIKO Sewing Machine Co., Ltd..