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Tufting Machine Market Share

Report ID: GMI11702
Published Date: Oct 2024
Report Format: PDF

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Tufting Machine Market Share

Tufting machine industry is consolidated in nature due to presence of local and global players across the globe. In 2023, the market players such Becker, Bonas, Card Monroe, Groz-Beckert, Sahinler, Siemonsma, Staubli, Suntech collectively held around 20%-30% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Tufting Machine Market Companies

Major players operating in the tufting machine industry are:

Becker
Bonas
Card Monroe
Groz-Beckert
Sahinler
Siemonsma
Staubli
Suntech
Textile Machinery Associates
Tuftco
Tufting Machinery Services
Van De Wiele
Wilton
Xuzhou Henghui

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for tufting machine was reached USD 176.8 million in 2023 and is estimated to grow at a CAGR of 5.5% from 2024 to 2032, driven by the increasing popularity of carpets and rugs in both residential and commercial spaces.

The cut pile tufting machine segment crossed USD 72 million in 2023 and is predicted to hit USD 119.6 million by 2032, on account of the popularity of cut pile carpets in residential and commercial spaces, known for their soft, plush textures.

The carpets and rugs segment held the dominant market share of 51% in 2023, due to the growing preference for carpets and rugs in homes, offices, and public spaces, which drives the demand for tufting machines specialized in carpet production.

The North American market for tufting machine was reached USD 46.5 million in 2023 and is expected to reach USD 75.7 million by 2032, fueled by the increase in residential and commercial construction activities, which boosts the demand for carpets and rugs, thereby driving the need for tufting machines.

Major players in the tufting machine market include Becker, Bonas, Card Monroe, Groz-Beckert, Sahinler, Siemonsma, Staubli, Suntech, Textile Machinery Associates, Tuftco, Tufting Machinery Services, Van De Wiele, Wilton, and Xuzhou Henghui.