Global Large Circular Knitting Machine Market growing at a CAGR of 5.7% from 2023 to 2030
Category : Machinery and Equipment | Published Date : Jun 2023 | Type : Press Release
Key Market Overview
The large circular knitting machine market is poised for strong expansion and is projected to reach USD 1,923.21 Million by 2030. The market was valued at USD 1,247.56 Million in 2022 and is predicted to grow at a compound annual growth rate of 5.7% during the period 2023-2030.
The report highlights the increasing adoption of large circular knitting machines owing to the rising demand of knitted fabrics to offer breathability and comfort. Consegic Business Intelligence provides an inclusive research report on the large circular knitting machine market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Large Circular Knitting Machine Market By Overview
Consegic Business Intelligence provided an inclusive research report on the large circular knitting machine market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The sportswear segment is anticipated to register the fastest CAGR as consumers are becoming more aware of the importance of regular physical activity and are actively participating in sports and fitness activities. The trend has led to a surge in the demand for sportswear thus increasing the need for large circular knitting machines to knit the fabric, thus driving the market growth during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- Increasing demand for knitted fabrics to allow better breathability is driving the growth of the large circular knitting machine market.
- The increasing demand of large circular knitting machines owing to the expanding textile industry is driving the growth of the market.
- The increasing investments by the government to improve the infrastructure by establishing textile parks is propelling the growth of the large circular knitting machine market.
Restraints:
- High manufacturing cost associated with large circular knitting machines is restraining the market growth.
- Presence of alternatives including flat knitting machines that generate less yarn waste is hampering the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Single Jersey Circular Knitting Machine and Double Jersey Circular Knitting Machine |
| By Application | Apparel Textiles, Home Textiles, Fashion Clothes, Sportswear, Automotive Seats, Technical Textiles, Medical Wear, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for large circular knitting machine market is highly competitive with major players A.T.E. Private Limited, Santec Precision Machinery Co., Ltd., Santoni S.p.A., and SMIT S.r.l. that have a strong market position in current market circumstances. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the large circular knitting machine market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- A.T.E. Private Limited
- Fukuhara Industrial & Trading Co. Ltd.
- Mayer & Cie. GmbH & Co. KG
- Quanzhou Baiyuan Machinery Science & Technology Co Ltd
- Santec Precision Machinery Co., Ltd.
- Santoni S.p.A.
- Smartex
- SMIT S.r.l.
- Tayu Machine (Xiamen) Co., Ltd.
- Terrot GmbH
- United Texmac Pte Ltd.
