Advancements in the manufacturing of embroidery machinery by providing multiple needles, larger hoop sizes, and throat width machines are some vital factors contributing to market growth.
Further, escalating growth of the textile industry, with the industry being surplus in its trade, globally, is poised to provide gains to embroidery machinery manufacturers.
Focus of market behemoths has now shifted on providing embroidery machinery equipped with latest technology such as inbuilt Wi-Fi and multiple needle machinery. COVID-19 posited a downfall with the market observing a sharp fall in revenue in 2020.
However, sales are expected to pick up and growth over the long-term forecast period will be steady.
As per an recent market intelligence analysis by an ESOMAR-certified market research and consulting firm, the global embroidery machinery market is expected to progress at a steady CAGR of around 5% over the next ten years, i.e. 2021-2031.
Key Takeaways from Market Study
- The global embroidery machinery market is anticipated to add 1.6X by 2031.
- Computerized embroidery machines are expected to grow at an impressive CAGR of 5% during the forecast period.
- East Asia is the consummate market with a gargantuan value of US$ 461 Mn in 2020, and is expected to inflate at a lively CAGR of 5.5% through 2031.
- 2-7 multi needle embroidery machinery is opined to manifest at a spry growth rate of 6% CAGR, while single needle machines are projected to add 1.5X times value over the forecast period.
- By speed, sales of above 1200 SPM machines are expected to balloon at the fastest pace of close to 6%, owing to large demand from the commercial industry to produce mass embroideries in less time.
- By end-use industry, the commercial industry is poised to bestow prodigious opportunity for embroidery machinery manufacturers, owing to increasing use of these machines by large-scale embroideries.
- Due to COVID-19, the market witnessed a growth rate of -3.4% in 2020, with things picking up in 2021, and the expected growth rate at over 4%.
- The market in China and Japan is expected to expand at over 5% CAGR each, while that in India at close to 7% CAGR through 2031.
“Burly investments in R&D to unfold novel vistas fostered by zeroing in on product cost strategy and innovative product offerings,” says a report analyst.
Novel Product Offerings with Economic Cost – a Level Playing Field for Manufactures
Key players such as Brother Industries and Bernia International are pivoting their emphasis on novel product offerings by investing heavily in research & development and earmarking the cost of machines for customers to capture substantial market presence.
- For instance, in September 2019, Bernina of America announced the launch of new Tula Pink special edition machine models, including B 770, QE and B 570 QE. These new machines feature a trendy oil-slick finish and effervescent faceplate.
- In August 2020, Tacony Corporation showcased its new product range at the Virtual Baby Lock Tech. This includes the Solaris 2 embroidery and sewing machine and upgraded Vnture multi-needle embroidery machine.