The global sewing machine market is growing at five per cent, reveals as study by Research and Markets.com. The study states the market is expected to reach $5.9 billion by 2028, rising at a market growth of 5.7% CAGR during the forecast period.
Based on type, the market is segmented into: electric, computerized and manual. The electric segment acquired the largest revenue share in the sewing machine market in 2021. Based on application, the market is segmented into: industrial, commercial and residential. The residential segment registered a significant revenue share in the sewing machine market in 2021.
The study finds, the apparel segment acquired the largest revenue share in the sewing machine market in 2021.
Based on regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific acquired the largest revenue share in 2021. China and Japan, contribute significantly to market revenue. The growing textile sector in developing countries such as Bangladesh, Vietnam is also leading to high demand for sewing machines in the region. One of the most important driving forces for the region's growth is the increasing number of international corporations investing across the region. The availability of low-cost labor and materials throughout the region has helped the region's market income.
