A flat knitting machine is a two-bed machine used to create flat knitted fabric. The advantage of a flat knitted machine is that it has vertical and horizontal stationary threads which can be combined into the fabric. It has two stationary beds which are arranged in an inverted V formation. The machine has tracks in which the needles can be moved. Jumpers, pullovers, cardigans, dresses, suits, trouser suits, hats, and scarves are some common products produced using flat knitting machines. These machines are available in a variety of options in terms of price, size, and other facilities. Growing apparel market, automation of the textile industry, rising demand for fabric cloths, and increasing disposable income are the major factors expected to influence the global market. Staggering growth of automated flat knitting machines is expected due to rising labor cost and market shift toward automation. Large & growing domestic and global demand combined with increasing purchasing power of people is also anticipated to drive the global flat knitting machine market. However, intense competition and competitive pricing strategies are expected to hinder the market during the forecast period.
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The global flat knitting machine market can be segmented based on type, material, application, end-use, distribution channel, and geography. Based on type, the flat knitting machine market can be categorized into manual flat knitting machine, semi auto flat knitting machine, and fully automated flat knitting machine. Fully automated machines are expected to show significant growth due to rising labor cost in the near future. On the basis of application, the flat knitting machine market is classified into upper material, sweater, home textile, and others. Home textile is anticipated to grow at a rapid rate in the coming years.
Based on distribution channel, the flat knitting machine market is segmented into online and offline. The offline segment is further sub segmented into retailers and wholesalers. The online flat knitting machine market is expected to dominate the distribution segment during the forecast period as online platforms offer discounts on a wide product range, and offer a return policy. All these factors are expected to make the online distribution channel more attractive during the forecast period.
In terms of geography, the global flat knitting machine market is classified into Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Europe (Germany, France, U.K, and Rest of Europe), North America (U.S, Canada, and Rest of North America), Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America). The U.S. and Europe have become the largest consumption bases in the world while manufacturing is concentrated in Asian countries. Asian countries with cheap and abundant manpower, enormous natural resources, and favorable economic policies are expected to boost both the supply and demand for flat knitting machines.
Large & growing domestic and global demand coupled with increasing spending power of people is also anticipated to drive the global flat knitting machine market. China and India are expected to become the largest markets and manufacturing base for flat knitting machines. Middle East & Africa is estimated to witness lower growth in this industry in the coming years.
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Major players active in the flat knitting machine market are Shima Seiki, JY LEH INDUSTRIAL CO. LTD, JAMES Textile Machinery Co. Ltd., H. Stoll, Flying Tiger, and Steiger. The global market is dominated by H. Stoll, GmbH & Co Kg of Reutlingen, Germany and Shima Seiki Mfg. Ltd of Wakayama, Japan. Flat knitting machine manufacturers are spending on R&D activities so as to incorporate new technologies and new products with more features and to increase their customer base and revenue shares, thus gaining a competitive edge in the market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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