Increasing Investment in Knitting Machines is expected to boost the overall Market Growth

The global knitting machines market was valued at US$ 7.06 Bn in the year 2021 and expected to reach US$ 11.27 Bn by year 2030, expanding at a CAGR of 4.0% during the forecast from 2023 to 2030. Knitting accounted for more than 30% of the total fabric production in the global textile market in the year 2018. Therefore, constant innovation in the knitting technology such as new machine designs and multi-gauge technologies has restored the textile market from global financial crash during 2007 to 2008. Besides this, significant investment by market players for nylon knitting, automated knitting plants and other new knitting technologies has also prominently driven the market growth. In February 2017, Texollini Inc. invested US$ 2 million for installing new circular knitting machine, also new dyeing and finishing machines. In addition, ever-changing clothing trend has triggered the knitting machines market players to transform the knitwear industry from functional to fashionable.

Medical Textile Segment is predicted to witness lucrative growth during the Forecast Period

Medical textile is an unavoidable segment of the healthcare industry. Continuous innovation in the field of medical textiles has significantly driven the knitting machines market in the medical sector. Non-woven textiles presently dominate the total medical textile industry with around 60% consumption share. However, knitted fabrics are the basic structure to develop high-tech medical textiles such as medical patches, artificial blood vessels, and scaffolds for tissue engineering. In the wake of same, knitted medical textiles is expected to grapple closely with the non-woven textiles and project fastest growth of the segment in years to come. Furthermore, increasing demand for high-tech textiles in healthcare segment has also provided lucrative opportunities to the knitting machine manufacturers. Increasing awareness regarding unique benefits and its versatile applications are the other important factors that have prominently triggered the market growth.

Asia Pacific is projected to garner the Highest Growth during Forecast Period

Asia Pacific is the most lucrative region for the global knitting machines market and show glimpses of being one of the dominating regions during the forecast period. The robust growth of the region is primarily driven by the steep growth of automobile, clothing, and healthcare sectors in the region. Prominent growth in the above mentioned sectors have magnificently increased the demand of knitted fabrics in the Asian countries. Additionally, the Asian knitters are also focusing towards their regional expansion. For instance, in July 2019, a Hong Kong manufacturer, Wai Chi Kai Knitting Company invested US$ 1 Bn in its new manufacturing site in Vietnam.

Day by day knitted products are gaining pace in the South Asian countries. In 2018, Bangladesh claimed 40% of its total export earnings are from knitted products. On the contrary, increasing yarn prices coupled with increased production cost is expected to hinder the knitted products market growth in some of the south Asian countries.

Key Players & Competitive Landscape:

The burgeoning demand for knitted fabrics has upend the textile industry within past few years. As a result, several new players are entering the market to capitalize this lucrative business opportunity. On the other hand, market leaders are maintaining their strong footprint in the market by advancing their value chain and adopting new automation features and seamless manufacturing in the knitting technology. In addition, the market players are also focused towards regional expansion to avail the alluring opportunities offered by the government of developing nations in the knitted fabrics market such as low labor cost and favorable regulations.

Some of the prominent players listed in the global knitting machines market report includes Shima Seiki Mfg Ltd., Santoni S.p.A., Sangiacomo, Pai Lung Machinery Mill Co. Inc., Terrot GmbH, Karl Mayer Textilmaschinenfabrik GmbH, Groz Beckert KG, Mayer & Cie. GmbH & Co. KG (MCT), Orizio S.r.l., Monarch Knitting Machinery Corp., H. Stoll AG & Co. KG, Steiger Participations Sa, Matsuya Industries, Keum Yong Textile Machinery, and Busi Giovanni S.r.l. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Knitting Machines market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Knitting Machines market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Knitting Machines market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Knitting Machines market?
• Which is the largest regional market for Knitting Machines market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Knitting Machines market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Knitting Machines market worldwide?