Sewing and Embroidery Machine Market Booming to $14 Billion by 2028
The global market for sewing and embroidery machines witnessed substantial growth in 2022, reaching a size of US $7.85 billion. Projections indicate a further ascent to US $14 billion by 2028, boasting a Compound Annual Growth Rate (CAGR) of 10.13% during the review period. Key players in the industry are anticipated to adopt strategic measures, contributing to a steady growth rate by 2024.
A recent report by 360MarketUpdates underscores the combined functionality of sewing and embroidery machines, offering users a versatile solution in a single machine. This approach proves economically and spatially advantageous compared to using two separate machines. The textile and apparel industry’s escalating demand is identified as a key driver for the market’s expansion. In 2024, the global clothing market is expected to be valued at US $2.20 trillion, driven by the growing world population’s demand for garments.
The surge in demand not only fuels the continuous growth of the sewing and embroidery machine industry but also plays a pivotal role in the overall expansion of the clothing sector. Data from the World Economic Forum highlights the immense scale of the global fashion industry, producing over 10-150 billion garments annually, with apparel accounting for more than 60% of total textile consumption.
With over 75% of textile workers being women, their participation, along with that of disadvantaged groups, has been instrumental in ensuring the mass production of garments in line with market trends, particularly in embroidered textiles. This has led to a notable increase in domestic sales of sewing and embroidery machines. As the market continues to evolve, the seamless integration of sewing and embroidery functions is anticipated to drive innovation and cater to the dynamic needs of the textile and apparel industry.
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