According to a new report published by Allied Market Research, titled,"Footwear
Manufacturing Machines Market by Solution and Machine Type: Global Opportunity
Analysis and Industry Forecast, 2018-2025,"the footwear
manufacturing machines market accounted for USD 16,836.3 million in 2017, and
is expected to reach USD 23,372.1 million by 2025, growing at a CAGR of 4.3%
from 2018 to 2025. In 2017, Asia-Pacific dominated the global market, in terms
of revenue, accounting for about 82.0% share of the global market, followed by
LAMEA.
Footwear manufacturing machinery includes machines used for manufacturing
& designing shoe upper and insole parts, and it assembles and stabilizes
these parts to form a finished shoe product. The demand for footwear production
is increasing rapidly, owing to change in lifestyle and fashion trends, which
in turn boosts the demand for footwear making machinery. Furthermore, the
footwear making machinery simplifies the manufacturing process and increases
production capacity utilizing optimized time. These factors are majorly driving
the demand for footwear making machinery. However, uncertainty in the
manufacturing industry can hamper of growth of the footwear manufacturing
machinery.
The product segment secured the highest share of about 86.0% in the footwear manufacturing market in 2017 and is expected to grow at a CAGR of 4.7% during the forecast period. In terms of machine type, semi-automatic machines are expected to account for the highest market share in the coming years, as production capacity of these machines is higher than manual machines, which reduces labor cost, and improves product quality.
Asia-Pacific secured the highest market share in 2017, owing to wide
presence of key footwear manufacturing companies. Moreover, most of the key
footwear making machines manufacturers are located in Taiwan. Furthermore, the
countries such as China and India are growing rapidly in the footwear
manufacturing industry, which is increasing demand for footwear manufacturing
machines in region.
In 2017, the product segment dominated the global footwear manufacturing machines market, in terms of revenue,
and is projected to grow at a CAGR of 4.7% during the forecast period. The
service segment is projected to grow at a CAGR of 1.2% during the forecast
period. Asia-Pacific is projected as one of the most dominant regions in the
footwear manufacturing market and is expected to witness notable growth rate.
The major players, such as ALC Tecnologie Adesive S.r.l., Atom S.p.A,
Brustia Alfameccanica S.r.l., Comec, Comelz S.p.A, Dongguan Kingstone
Shoe-making Machinery Co. Ltd., Elitron IPM S.r.l., Kou Yi Iron Works Co.,
Ltd., Orisol Taiwan Ltd., and True Ten Industrial Co., Ltd., have focused on
strengthening their business capabilities in the market.
For more information on the research report, refer to below
link:-
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Ken Research
Ankur Gupta,
Head Marketing & Communications
+91-9015378249
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