Large Circular Knitting Machines Market Size, Share, Growth, and Industry Analysis, By Type (Single Circular Knitting Machines and Double Circular Knitting Machines), By Application (Apparel Textiles, Home Textiles, Technical Textiles, and Others), and by Regional Forecast to 2031

Updated On: 22 April 2024

Large Circular Knitting Machines Market Report Overview

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The global large circular knitting machines market size was USD 1143.7 million in 2022. As per our research, the market is expected to reach USD 1392.1 million in 2028, exhibiting a CAGR of 3.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the large circular knitting machines market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Large circular knitting machines are specialized industrial machines used in textile manufacturing to create knitted fabrics on a large scale. These machines are capable of producing circular knit fabrics, which are commonly used in various textile products such as T-shirts, sweaters, socks, underwear, and more.

The market is evolving rapidly as large circular knitting machines play a vital role in the textile industry by enabling cost-effective and efficient production of knitted fabrics. They are a foundation of mass production in the fashion and apparel sector and are continually evolving with advancements in technology to meet the demands of the textile market.

COVID-19 Impact: Pandemic Impacts on Fashion & Textile Industry Decreased the Sales of Machines

The COVID-19 pandemic affected the market for large circular knitting machines adversely. The demand for kitting machines descended throughout the pandemic due to lockdown restrictions and, the shutdown of the textile industry. Furthermore, decreased consumer spending and lockdown limitations on social gatherings and events led to a decreased need for new knitting machines. This resulted in a slowdown in the growth of this market specifically, in the year 2020-2021. However, as the fashion and textile markets are an ever-growing industry, after the pandemic, the market began to recover and is predicted to gain an excellent demand for these machines over this forecast period.

Latest Trends

"Trend of Sustainable Solutions Boost the Market Scope"

The adoption of sustainable solutions in every industry including the knitting machine market, is the latest trend. Sustainability remains a central theme in the textile industry. Large circular knitting machine manufacturers are focusing on eco-friendly practices, such as reduced energy consumption, waste reduction, and the use of recycled or sustainable materials. Apart from this, increasing automation and the integration of digital technologies, including IoT (Internet of Things) sensors and data analytics are enhancing the efficiency and productivity of large circular knitting machines. Additionally, with regard to recent developments, in December 2022, the leading Italian circular knitting machine builder Santoni launched a brand-new large diameter machine called INNOTAS at the India ITME show.

Segmentation

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By Type Analysis

According to type, the market can be bifurcated into Single Circular Knitting Machines and Double Circular Knitting Machines

By Application Analysis

Based on application, the market can be divided into Apparel Textiles, Home Textiles, Technical Textiles, and Others.

Driving Factors

"Rising Demand for Knitted Apparel Propel the Growth of the Market"

The market for large circular knitting machines has several driving factors however, the primary driving factor of the market is the growing demand for knitted fabric clothes and readymade clothes around the world. This expanding demand for knitted apparel is attributed to the changing lifestyle of consumers, increasing customer disposable income, and the growth of the fashion industry. As well as rapid changes in fashion trends and the need for quick turnarounds in design and production encourage the adoption of versatile knitting machines that can produce a variety of fabrics and styles.

"Technological Advancements Expand Market Development "

The second significant driving factor of the market is ongoing advancements in knitting machine technology, including digital controls, automation, and increased efficiency. These advancements in technology attract manufacturers looking to improve their production processes. Thus, these factors are contributing to expand the large circular knitting machines market growth in this forecast period. 

Restraining Factors

"High Initial Investment System Can Curb the Market Expansion"

Along with driving factors, the market has some constraints such as the high cost of machines. The cost of acquiring and setting up large circular knitting machines can be substantial, which can deter smaller textile manufacturers from entering the market or upgrading their machinery which may curb the expansion of the market.

Regional Insights

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"North America Leads the Market due to Extensive Textile Industry in the Region "

According to market research, North America has been a significant region in the market and is anticipated to dominate the market growth during this forecast due to a higher demand for knitting machines in the apparel and textile industries. Also, key players in the region play a crucial role in the market's prominence. Furthermore, in terms of the global market revenue, the region is predicted to gain the highest large circular knitting machines market shares.

Key Industry Players

"Key Companies Emphasis on Collaboration with Textile Manufacturers to Develop Tailored Solutions"

Key players in the large circular knitting machine industry generate high profits by focusing on innovation, product quality, and global reach. They invest in R&D to develop cutting-edge machines, ensuring they are reliable and efficient. Also, expanding their market presence globally and providing excellent after-sales support builds customer trust. Besides, strategic alliances and supply chain optimization help reduce costs. By staying attuned to market trends and maintaining strong brand reputations, these key players secure their positions.

List of Market Players Profiled

• Pailung (Taiwan)
• Baiyuan Machine (China)
• Mayer & Cie (Germany)
• Terrot (Germany)
• Santoni (Italy)
• Fukuhara (Japan)
• Tayu (China)
• Wellmade (U.S.)
• Orizio (Italy)

Report Coverage

This report defines the large circular knitting machines market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.