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Tufting Machine Market Size

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

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Tufting Machine Market Size

The global tufting machine market was valued at USD 176.8 million in 2023 and is estimated to grow at a CAGR of 5.5% during 2024 to 2032. The increasing popularity of carpets and rugs in both residential and commercial spaces, driven by aesthetic preferences and comfort, significantly boosts the demand for tufting machines. This trend is particularly evident in regions experiencing urbanization and a growing middle class.

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The textile industry's expansion, particularly in emerging economies like India and Vietnam, drives the need for efficient tufting technology. As production capacities increase, manufacturers invest in modern tufting machines to meet rising demand for a variety of tufted products. The global rise in construction activities, particularly in residential and commercial real estate development, enhances the need for upholstery and flooring solutions. Tufting machines are essential for producing carpets and wall coverings that meet the demands of new constructions. The automotive industry’s requirement for high-quality tufted materials in vehicle interiors, such as carpets and upholstery, is a significant demand driver.

Tufting Machine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Tufting Machine Market Size in 2023:	USD 176.8 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.5%
2032 Value Projection:	USD 284.9 Million
Historical Data for:	2021 - 2023
No. of Pages:	165
Tables, Charts & Figures:	428
Segments covered:	Machine type, operation mode, application, end use, distribution channel, region
Growth Drivers:	Rising demand for carpets and rugs Growth in the textile industry Rapidly growing automotive sector Urbanization and growing industrialization
Pitfalls & Challenges:	High initial investment costs Technological complexity

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The upfront costs of acquiring advanced tufting machines can be significant, deterring smaller manufacturers from upgrading their equipment. This high barrier to entry can limit competition and innovation within the market. As tufting machines become more sophisticated, the complexity of operating and maintaining these machines increases. Manufacturers may face challenges in training staff to operate advanced technology, leading to potential inefficiencies and increased downtime.

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.