As per market intelligence analysis by an ESOMAR-certified market research and consulting firm, the global embroidery machinery market is expected to grow at a steady CAGR of around 5 per cent over the next 10 years, i.e. 2021-2031. Global embroidery machinery market is anticipated to add 1.6X by 2031. Computerized embroidery machines are expected to grow at an impressive CAGR of 5 per cent during the forecast period.
The report estimates East Asian market to grow at a lively CAGR of 5.5 per cent through 2031. The market for 2-7 multi needle embroidery machinery is expected to grow at 6 per cent CAGR, while single needle machines are projected to add 1.5X times value over the forecast period. By speed, sales of above 1,200 SPM machines are expected to balloon at the fastest pace of close to 6 per cent, owing to large demand from the commercial industry to produce mass embroideries in less time.
By end-use industry, the commercial industry is poised to bestow prodigious opportunity for embroidery machinery manufacturers, owing to increasing use of these machines by large-scale embroideries. The market in China and Japan is expected to expand at over 5 per cent CAGR each, while that in India at close to 7 per cent CAGR through 2031.