According to a recent survey published by FMI, the global Sewing machine components market is expected to grow at a healthy CAGR during the forecast period between 2018 and 2028. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Sewing machine components over the coming decade.
Advent of Industry 4.0 Technology to Create New Growth Avenues for the Sewing machine components Market
The industrial sector is undergoing a change as firms throughout the world place a strong emphasis on using advanced automation. This is usually referred to as Industry 4.0.
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With the advent of Industry 4.0, manufacturing facilities are prioritising the use of novel technologies such as artificial intelligence, smart manufacturing, the internet of things (IoT), and machine learning, among others. This is anticipated to generate profitable growth opportunities in the market for Sewing machine components.
Furthermore, rising government attention on improving the manufacturing sector and integrating augmented and virtual reality using smart equipment to boost output is expected to drive market demand in the future years.
Key Sewing machine components Market Takeaways and Projections
- The U.S. is estimated dominate the Sewing machine components market in North America, accounting for the largest share in the region through 2022.
- Germany is projected to account for a significant share in the Europe market over the assessment period.
- China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2018 and 2028
- India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
Report Benefits & Key Questions Answered
- Sewing machine components Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
- Sewing machine components Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Sewing machine components As per the survey, Sewing machine components sales will project steady growth over the forecast period.
- Sewing machine components Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Sewing machine components.
- Sewing machine components Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
Sewing machine components Market: Key Market Players
Examples of some of the market participants in the global sewing machine components market identified across the value chain include
- Bernina International AG
- Rieter Group
- Brother Industries Ltd.
- Janome Sewing Machine Co. Ltd.,
- JUKI Corporation
- SEW-EURODRIVE
- Reliable Corporation
- Singer Corporation
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Sewing machine components Market: Segmentation
The sewing machine components market is segmented on the basis of machine types and sewing machine components types
On the basis of sewing machine type, sewing machine components market is segmented as
- Mechanical Sewing Machine
- Electronic Sewing Machine
- Computerized or Automated Sewing Machine
- Embroidery Machine
- Overlock Sewing Machine or serger
On the basis of sewing machine components type, sewing machine components market is segmented as
- Slot for needle thread
- Needle
- Presser foot
- Wing nut
- Stitch length adjustment
- Drawer containing shuttle and bobbin
- Motor housing
- Stitch type selector
- Thread tension control
- Hand wheel
- Stitch control
Sewing Machine Components Market Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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