PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621854
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621854
Tufting Machine Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
The Global Tufting Machine Market, valued at USD 176.8 million in 2023, is projected to grow at a CAGR of 5.5% from 2024 to 2032. The rising demand for carpets and rugs in both residential and commercial spaces is a key factor driving this growth. Increasing urbanization and a growing middle class, particularly in emerging economies, are boosting the popularity of tufted products due to their aesthetic appeal and comfort. The expansion of the textile industry, especially in countries like India and Vietnam, is fueling the demand for advanced tufting technology. As production capacities rise, manufacturers invest in modern tufting machines to meet the growing need for diverse tufted products.
Additionally, the global boom in construction activities, especially in the residential and commercial real estate sectors, is driving the demand for tufted carpets, rugs, and wall coverings, further accelerating the adoption of tufting machines. Moreover, the rise in construction projects worldwide creates a strong demand for flooring and upholstery solutions. Tufting machines play a crucial role in producing high-quality carpets and coverings to meet the needs of these new constructions. As a result, manufacturers prioritize efficiency and innovation in their machinery to stay competitive in the market.
The market for tufting machines is also influenced by the increasing interest in home improvement and interior design trends, particularly in developed regions. Consumers seek ways to enhance their living and working spaces, with carpets and rugs being popular choices. This trend further fuels the demand for tufted products, which, in turn, drives the need for efficient tufting equipment. In North America, the tufting machine market generated over USD 46.5 million in revenue in 2023 and is expected to reach USD 75.7 million by 2032. The region's growing construction activity in both residential and commercial sectors is a significant contributor to this growth.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $176.8 Million |
| Forecast Value | $284.9 Million |
| CAGR | 5.5% |
With rising consumer interest in interior design and home improvement, the demand for tufted carpets and rugs steadily increases, leading to heightened demand for tufting machines
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021-2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Technological overview
- 3.5 Key news & initiatives
- 3.6 Regulatory landscape
- 3.7 Impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Rising demand for carpets and rugs
- 3.7.1.2 Growth in the textile industry
- 3.7.1.3 Rapidly growing automotive sector
- 3.7.1.4 Urbanization and growing industrialization
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 High competition and market saturation
- 3.7.2.2 Changing consumer preferences
- 3.7.1 Growth drivers
- 3.8 Growth potential analysis
- 3.9 Pricing analysis
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Machine Type, 2021-2032 (USD Million) (Thousand Units)
- 5.1 Key trends
- 5.2 Cut pile tufting machine
- 5.3 Loop pile tufting machine
- 5.4 Cut and loop tufting machine
- 5.5 Multi-level loop pile tufting machine
- 5.6 Others
Chapter 6 Market Estimates & Forecast, By Operation Mode, 2021-2032 (USD Million) (Thousand Units)
- 6.1 Key trends
- 6.2 Electric
- 6.3 Hydraulic
- 6.4 Pneumatic
Chapter 7 Market Estimates & Forecast, By Application, 2021-2032 (USD Million) (Thousand Units)
- 7.1 Key trends
- 7.2 Carpets and rugs
- 7.3 Automotive interiors
- 7.4 Textile wall coverings
- 7.5 Others
Chapter 8 Market Estimates & Forecast, By End Use, 2021-2032 (USD Million) (Thousand Units)
- 8.1 Key trends
- 8.2 Residential
- 8.3 Commercial
- 8.4 Industrial
Chapter 9 Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Million) (Thousand Units)
- 9.1 Key trends
- 9.2 Direct
- 9.3 Indirect
Chapter 10 Market Estimates & Forecast, By Region, 2021-2032 (USD Million) (Thousand Units)
- 10.1 Key trends
- 10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
- 10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Russia
- 10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 Australia
- 10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.6 MEA
- 10.6.1 South Africa
- 10.6.2 Saudi Arabia
- 10.6.3 UAE
Chapter 11 Company Profiles
- 11.1 Becker
- 11.2 Bonas
- 11.3 Card Monroe
- 11.4 Groz-Beckert
- 11.5 Sahinler
- 11.6 Siemonsma
- 11.7 Staubli
- 11.8 Suntech
- 11.9 Textile Machinery Associates
- 11.10 Tuftco
- 11.11 Tufting Machinery Services
- 11.12 Van De Wiele
- 11.13 Wilton
- 11.14 Xuzhou Henghui
