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Knitting Machines Market Size
The global knitting machines market size was valued at USD 4.9 billion in 2023 and is estimated to grow at a CAGR of over 5.4% from 2024 to 2032. The global market is growing steadily, driven by rising demand for textiles and apparel, technological advancements, automation, and the expanding sportswear and home textiles sectors.
Increasing global population and urbanization are boosting the need for clothing and textiles. Emerging economies, especially in the fashion and apparel industries, require advanced knitting machines to produce diverse fabrics efficiently. Innovations like computerized and automatic knitting machines have improved production efficiency and precision. Manufacturers are adopting automation to enhance efficiency, reduce labor costs, and meet the demand for customized products.
Furthermore, textile manufacturing is rapidly growing in Asia-Pacific and Africa due to cost-effective labor and rising local demand. This progression is leading to increased investments in knitting machines. In India, government initiatives are supporting the textile sector through technology upgrades, infrastructure development, skill enhancement, and sectoral progress, fostering a favorable environment for textile manufacturing and boosting the market.
How much is the U.S. knitting machines industry worth?
The U.S. knitting machines market was valued at USD 1.2 billion in 2023 and is estimated to grow at a CAGR of over 5.3% from 2024 to 2032, driven by rising demand for automated manufacturing, technological advancements, and government support.
Who are some of the prominent players in the knitting machines industry?
Key players in the industry include Flying Tiger, Fukuhara, Hanma Group, Jingwei Textile Machinery, Lamb, Lisky, Mayer & CIE, Orizio, Pai Lung, Santoni, Shima Seiki, and Stoll.
What is the size of the weft knitting machines segment?
The weft knitting machines segment accounted for approximately USD 3.4 billion in revenue in 2023 and is estimated to grow at a CAGR of around 5.5% from 2024 to 2032, thanks to seamless knitting technology that reduces fabric waste and labor costs.
How big is the global knitting machines market?
The global knitting machines industry was valued at USD 4.9 billion in 2023 and is estimated to grow at a CAGR of over 5.4% from 2024 to 2032, driven by rising demand for textiles and apparel, technological advancements, and automation.