Global Knitting Machine Market Overview
As per MRFR analysis, the Knitting Machine Market Size was estimated at 10.33 (USD Billion) in 2022. The Knitting Machine Market Industry is expected to grow from 11.07(USD Billion) in 2023 to 20.6 (USD Billion) by 2032. The Knitting Machine Market CAGR (growth rate) is expected to be around 7.14% during the forecast period (2024 - 2032).
Key Knitting Machine Market Trends Highlighted
The Knitting Machine Market is experiencing significant growth, driven by increasing demand for knitted garments, technological advancements, and the growing popularity of home knitting. The rise of fast fashion and athleisure wear has fueled the demand for high-speed and efficient knitting machines. Additionally, the adoption of smart knitting technologies, such as automated pattern changing and remote monitoring, is enhancing productivity and reducing production costs. The market is also witnessing a growing trend towards customized and personalized knitted products, further expanding market opportunities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Knitting Machine Market Drivers
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Rising Demand for Personalized and Customized Knitwear
The growing popularity of personalized and customized knitwear is a significant driver in the Knitting Machine Market Industry. Consumers are increasingly seeking unique and tailored clothing items that reflect their individual styles and preferences. This demand has led to a surge in the adoption of knitting machines that offer advanced customization capabilities. These machines tools allow manufacturers to produce garments with intricate designs, various textures, and personalized details, meeting the evolving needs of fashion-conscious consumers. The ability to create unique and customized knitwear has opened up new market opportunities for businesses, driving growth in the Knitting Machine Market Industry.
Technological Advancements in Knitting Machinery
Rapid technological advancements in knitting machinery are transforming the Knitting Machine Market Industry. The introduction of advanced technologies, such as computer-aided design (CAD) and computer-aided manufacturing (CAM), has significantly improved the efficiency and precision of knitting machines. These technologies enable manufacturers to optimize production processes, reduce production time, and enhance the quality of finished garments.
Additionally, the integration of sensors and automation in knitting machines allows for real-time monitoring and control of the knitting process, leading to increased productivity and reduced errors. These technological advancements are enabling knitting machine manufacturers to cater to the evolving demands of the market, driving growth in the Knitting Machine Market Industry.
Expanding Applications of Knitted Fabrics
The expanding applications of knitted fabrics across diverse industries are driving growth in the Knitting Machine Market Industry. Knitted fabrics are increasingly utilized in various sectors, including fashion, sportswear, home textiles, and medical textiles. The versatility and adaptability of knitted fabrics make them suitable for a wide range of applications, from high-performance sportswear to comfortable and breathable garments.
The growing demand for technical textiles, such as antimicrobial and moisture-wicking fabrics, is further expanding the application areas of knitted fabrics. This diversification of applications is creating new opportunities for knitting machine manufacturers, driving growth in the Knitting Machine Market Industry.
Knitting Machine Market Segment Insights:
Knitting Machine Market Knitting Type Insights
The Knitting Machine Market is segmented by Knitting Type into Single-Knitting Machines, Double-Knitting Machines, Flat-Knitting Machines, and Circular-Knitting Machines. Among these, Single-Knitting Machines held the largest market share in 2023, accounting for around 40% of the Knitting Machine Market revenue. The growth of this segment is attributed to the increasing demand for single-knitted fabrics in various applications such as T-shirts, sportswear, and underwear. Double-knitting machines are expected to witness significant growth over the forecast period, owing to their ability to produce high-quality, double-sided fabrics.
These machines are widely used in the production of garments, home textiles, and technical textiles. Flat-knitting machines are another important segment of the Knitting Machine Market, primarily used for producing seamless garments, such as sweaters, socks, and hosiery. Circular-knitting machines are commonly used in the production of tubular fabrics, such as those used in socks, leggings, and swimwear.
The Knitting Machine Market is expected to exhibit a steady growth rate over the forecast period, driven by factors such as rising demand for knitted fabrics, technological advancements, and increasing disposable income in emerging economies. The market is also witnessing a growing trend towards automation and digitization, which is expected to further drive growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Knitting Machine Market Yarn Type Insights
The Knitting Machine Market is segmented based on yarn type into natural fiber knitting machines, synthetic fiber knitting machines, and specialty yarn knitting machines. The natural fiber knitting machines segment held the largest market share in 2023 and is expected to continue to dominate the market over the forecast period. The growth of this segment can be attributed to the increasing demand for natural fibers such as cotton, wool, and silk in the textile industry.
The synthetic fiber knitting machines segment is expected to grow at a significant rate during the forecast period due to the increasing use of synthetic fibers such as polyester, nylon, and spandex in the production of sportswear, activewear, and other technical textiles. The specialty yarn knitting machines segment is expected to witness moderate growth over the forecast period, driven by the increasing demand for specialty yarns such as metallic yarns, lurex yarns, and blended yarns in the production of high-end garments and accessories.
Knitting Machine Market Needle Gauge Insights
The Knitting Machine Market is segmented by needle gauge into fine, medium, and coarse gauges. Fine gauge knitting machines are used to produce delicate and lightweight fabrics, such as lace and hosiery. Medium gauge knitting machines are used to produce a wider range of fabrics, including sweaters, t-shirts, and sportswear. Coarse gauge knitting machines are used to produce heavy-duty fabrics, such as carpets and blankets. In 2023, the fine gauge knitting machines segment is expected to account for the largest share of the Knitting Machine Market, at 38.5%.
The medium gauge knitting machines segment is expected to account for 32.2% of the market, and the coarse gauge knitting machines segment is expected to account for 29.3% of the market. The growth of the fine gauge knitting machines segment is being driven by the increasing demand for delicate and lightweight fabrics. The growth of the medium gauge knitting machines segment is being driven by the increasing demand for a wider range of fabrics. This growth is expected to be driven by the increasing demand for knitted fabrics in a variety of applications.
Knitting Machine Market End-Use Application Insights
The End-Use Application segment is a crucial aspect of the Knitting Machine Market, influencing the market's growth trajectory. The segment comprises various sub-segments, including Apparel, Home Furnishings, Industrial Textiles, and Medical Textiles. In 2023, the Apparel sub-segment held a significant share of the Knitting Machine Market, driven by the rising demand for knitted garments in the fashion industry. The Home Furnishings sub-segment is expected to witness steady growth due to increasing consumer spending on home décor and the growing popularity of knitted fabrics in furniture and upholstery.
The Industrial Textiles sub-segment is projected to experience notable growth, attributed to the increasing adoption of knitted fabrics in various industrial applications, including automotive, medical, and construction. The Medical Textiles sub-segment is expected to gain traction due to the growing demand for knitted fabrics in medical devices and implants. The Knitting Machine Market is anticipated to reach a substantial valuation by 2024, with key market players focusing on technological advancements and product innovation to cater to the evolving demands of end-use industries. This growth is attributed to factors such as rising disposable income, increasing fashion consciousness, and the growing adoption of knitted fabrics in diverse applications.
Knitting Machine Market Regional Insights
The Knitting Machine Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to hold the largest market share in the coming years. The growth of the market can be attributed to the increasing demand for knitted products from various end-use industries such as apparel, home furnishings, and technical textiles. North America and Europe are also significant markets for knitting machines, with established textile industries and a high demand for knitted products. South America and MEA are expected to witness steady growth in the coming years, driven by the growing textile and apparel industries in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Knitting Machine Market Key Players And Competitive Insights:
The Knitting Machine Market is highly competitive, with numerous established and emerging players competing for market share. Some of the major players in the Knitting Machine Market industry include Stoll America Knitting Machinery, Inc., Shima Seiki Mfg., Ltd., Terrot GmbH & Co. KG, and Monarch Knitting Machinery Corporation. These leading Knitting Machine Market players are constantly innovating and developing new technologies to gain a competitive edge in the market.
The competitive landscape of the Knitting Machine Market is characterized by a mix of global and regional players. Global players such as Stoll America Knitting Machinery, Inc. and Shima Seiki Mfg., Ltd. have a strong presence in multiple regions, while regional players focus on specific markets. For example, Terrot GmbH & Co. KG has a strong presence in Europe, while Monarch Knitting Machinery Corporation has a strong presence in North America.
The Knitting Machine Market is also witnessing the emergence of new players, particularly from developing countries such as China and India. These new players are often able to offer competitive pricing and innovative products, which is challenging the dominance of established players. The competitive landscape of the Knitting Machine Market is expected to remain dynamic in the coming years, with new technologies and market entrants shaping the industry's growth trajectory.
Key Companies in the Knitting Machine Market Include:
- Universal Maschinenfabrik
- OKURA
- Terrot Group
- Stoll
- Karl Mayer Group
- ROTA
- Monarch Knitting Machinery
- Stoll Group
- FUJIHARA
- Lonati
- Shima Seiki Manufacturing
- Steiger
- Santoni
- Itema
- Comez
Knitting Machine Market Industry Developments
The Knitting Machine Market is projected to reach a value of USD 20.6 billion by 2032, exhibiting a CAGR of 7.14% during the forecast period of 2024-2032. The market growth is attributed to the rising demand for knitted fabrics in various end-use industries, including apparel, home textiles, and technical textiles.
The increasing popularity of athleisure wear and the growing adoption of smart textiles are further driving market expansion. Technological advancements, such as the integration of automation and digitalization, are enhancing production efficiency and product quality, leading to increased adoption of knitting machines. The market is witnessing strategic initiatives by key players, including mergers and acquisitions, to expand their global presence and product offerings.
Knitting Machine Market Segmentation Insights
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Knitting Machine Market Knitting Type Outlook
- Single-Knitting Machines
- Double-Knitting Machines
- Flat-Knitting Machines
- Circular-Knitting Machines
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Knitting Machine Market Yarn Type Outlook
- Natural Fiber Knitting Machines
- Synthetic Fiber Knitting Machines
- Specialty Yarn Knitting Machines
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Knitting Machine Market Needle Gauge Outlook
- Fine Gauge Knitting Machines
- Medium Gauge Knitting Machines
- Coarse Gauge Knitting Machines
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Knitting Machine Market End-Use Application Outlook
- Apparel
- Home Furnishings
- Industrial Textiles
- Medical Textiles
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Knitting Machine Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
10.33(USD Billion) |
| Market Size 2023 |
11.07(USD Billion) |
| Market Size 2032 |
20.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.14% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Universal Maschinenfabrik, OKURA, Terrot Group, Stoll, Karl Mayer Group, ROTA, Monarch Knitting Machinery, H. Stoll Group, FUJIHARA, Lonati, Shima Seiki Manufacturing, Steiger, Santoni, Itema, Comez |
| Segments Covered |
Knitting Type, Yarn Type, Needle Gauge, End-Use Application, Regional |
| Key Market Opportunities |
Growing demand for automated and efficient knitting processes Increasing adoption of knitting machines in emerging economies Technological advancements in knitting machines Rising demand for customized and personalized knitted garments Increasing focus on sustainable manufacturing practices |
| Key Market Dynamics |
Rising demand for personalized and customized garments Technological advancements in knitting machines Growing popularity of smart textiles and wearable technology Increasing demand from emerging economies Sustainability concerns and the rise of eco-friendly knitting machines |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Knitting Machine Market is expected to reach a valuation of USD 20.6 Billion by 2032, growing at a CAGR of 7.14% during the forecast period of 2024-2032.
The Asia-Pacific region is expected to dominate the Knitting Machine Market, accounting for a significant share of the market revenue. Countries like China, India, and Bangladesh are major contributors to the growth of the knitting machine market in this region due to the presence of a large textile industry.
Knitting machines are primarily used in the production of a wide range of textile products, including apparel, home textiles, and technical textiles. They are employed in the manufacturing of knitted fabrics, which are utilized in the production of garments, sportswear, socks, and other knitted products.
Key competitors in the Knitting Machine Market include Stoll, Shima Seiki, Terrot, Mayer & Cie, and Santoni. These companies offer a range of knitting machines, including flat knitting machines, circular knitting machines, and hosiery knitting machines, catering to the diverse needs of the textile industry.
The growth of the Knitting Machine Market is driven by factors such as the increasing demand for knitted fabrics in various applications, advancements in knitting technology leading to improved efficiency and versatility, and the rising popularity of customized and personalized clothing items.
The Knitting Machine Market faces challenges such as intense competition, rapid technological advancements leading to product obsolescence, and fluctuations in raw material prices. Additionally, the industry is impacted by factors such as geopolitical uncertainties and economic downturns.
The COVID-19 pandemic had a significant impact on the Knitting Machine Market, leading to disruptions in supply chains, production shutdowns, and a decline in demand from various industries. However, the market is expected to recover as the global economy stabilizes and the textile industry adapts to the post-pandemic landscape.
Key trends shaping the Knitting Machine Market include the adoption of digital technologies for enhanced efficiency and automation, the increasing focus on sustainability and eco-friendly production processes, and the growing demand for smart and connected knitting machines that offer real-time data and remote monitoring capabilities.
The future outlook for the Knitting Machine Market is positive, with steady growth expected in the coming years. The increasing demand for knitted fabrics, coupled with advancements in knitting technology and the growing adoption of automation, is expected to drive market growth. Additionally, the expanding e-commerce industry and the rising popularity of online customization are expected to provide further impetus to the market.
Emerging opportunities in the Knitting Machine Market include the growing demand for technical textiles in industries such as healthcare, automotive, and aerospace. Additionally, the increasing focus on personalized and customized clothing items is expected to create new opportunities for knitting machines capable of producing unique and intricate designs.
