Global Footwear Manufacturing Machinery Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Footwear Manufacturing Machinery Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global footwear manufacturing machinery market report has been segmented on the basis of solution, machine type, and region.

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Global Footwear Manufacturing Machinery Market: Overview

Footwear manufacturing machinery is a set of multiple electronic units that are used to produce various types of footwear products such as flip flops, shoes, sandals, etc. This machinery enables simplifying the manufacturing process, permits mass production of footwear in less time, which results in minimizing cost of production.

Global Footwear Manufacturing Machinery Market: Dynamics

The global population is increasing steadily, and is among the major factors expected to fuel demand for various footwear items, and in turn continue to drive growth of the global footwear manufacturing machinery market. Increasing awareness and rapidly evolving fashion trends and designs in footwear, especially among younger individuals, is another factor expected to support revenue growth of the global market. Increasing disposable income, improving standards of living along with inclination towards the designer and fancy footwear are additional factors projected to propel growth of the target market. Furthermore, footwear manufacturers are investing in advanced footwear manufacturing machinery in order to reduce operational cost and increase productivity along with improved and better quality owing to robust competition in the market.

However, high cost associated with footwear machinery set-up and maintenance as well as fragmentation of the footwear market are among some of the major factors expected to hamper growth of the target market over the forecast period. In addition, availability of footwear manufactured by unorganized and local small-scale players is expected to impact market growth, especially is developing countries.

Global Footwear Manufacturing Machinery Market: Segmental Analysis

The solutions segment is sub-segmented as product and services. The product segment is projected to account for significant revenue shares of the global market. Among the machine type segments, the semi-automatic segment is expected to register significant growth, owing to lower cost of machinery as compared to fully automatic machines.

Global Footwear Manufacturing Machinery Market: Regional Analysis

Footwear manufacturing machinery market in Asia Pacific is projected to account for significant revenue share contribution in the global market, owing to strong presence of footwear manufacturing companies and footwear making machinery manufacturers. In addition, large population volume in developing countries such as India and China is expected to result in major demand for footwear, and the trend is projected to continue over the next 10 years.

North America Market footwear manufacturing machinery market is expected to register significant revenue growth, owing to increasing exports of footwear. According to a document published by the U.S. International Trade Commission, total US footwear exports was approximately US$ 1,430 million in 2017, (a category that includes footwear parts), and increased by US$ 62.0 million as compared to the previous year (2016). Increasing inclination towards buying premium and designer footwear coupled with high spending capabilities are projected to propel North America market growth. Markets in Latin America, Europe, and Middle East & Africa are also expected to register substantial growth over the forecast period.

Global Footwear Manufacturing Machinery Market Segmentation:

Segmentation by Solutions:

Product
Cutting Machine
Shoe Stitching Machine
Lasting Machine
Bottoming Machines
Closing Machines (Upper Assembly)
Finishing Machines
Services
Maintenance
Repair

Segmentation by Machine Type:

Automatic
Semi-automatic
Manual