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Sewing Machine Market to Register Almost $12 Billion Growth Despite COVID-19 Spread | Includes Business Continuity Plan for the New Normal | Technavio


The global sewing machine market is expected to register an incremental growth of by USD 11.96 bn, at a CAGR of almost 11% during 2020-2024. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is expected to have a negative impact due to the spread of the COVID-19 pandemic. The imposition of lockdown across the world led to the complete shutdown of businesses and many manufacturing facilities were compelled to halt their operations. This led to a decline in the supply and demand for sewing machines in the short term. However, the market is expected to post healthy growth during the forecast period with situations getting back to normal worldwide.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 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 among some of the major market participants.

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Rapid growth in the apparel industry has been instrumental in driving the growth of the market. However, the availability of counterfeit sewing machines might hamper the market growth.

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. Request a Free Sample Report on COVID-19 Impacts

Sewing Machine Market 2020-2024: Segmentation

Sewing Machine Market is segmented as below:

Over 52% of the market's growth is expected to originate from APAC during the forecast period. The strong penetration of the apparel and shoe industries is fostering the growth of the market in APAC.

Based on the application, the apparel segment offered maximum opportunities for market players in 2019. Increasing marketing efforts by major apparel brands have been driving the sales of apparel. This is one of the key factors driving the segment growth.

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:

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

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Table of Contents:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by End-user

Customer landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.


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