Large Circular Knitting Machine Market Forecast 2023 - 2030

By Type :

The type segment is bifurcated into single jersey circular knitting machine and double jersey circular knitting machine. The double jersey circular knitting machine accounted for the largest market share in 2022 and is also predicted to witness the fastest CAGR during the forecast period. The growth is attributed to the ability of double circular knitting machines to offer versatility in terms of fabric types and designs. The machines produce a wide range of knitted fabrics, including single jersey, rib, interlock, and piqué among others. The machine's double needle beds and multiple sets of needles allow for the simultaneous production of two layers of fabric, enabling the creation of reversible fabrics. Additionally, double circular knitting machines are known for high efficiency and productivity to produce fabrics at high speeds, enabling manufacturers to fulfill large orders. The double needle beds and simultaneous knitting of two layers of fabric contribute to faster production rates compared to single circular knitting machines. The efficiency and productivity offered by double circular knitting machines are particularly beneficial for mass production in the textile industry, thus contributing significantly in driving the market growth. For instance, Quanzhou Buen-Knit Machinery Co., Limited manufactured a double jersey circular knitting machine for the large-scale production of sportswear, fashion fabrics, and industrial fabrics. The machine runs smoothly generating low noise and has two needles of different lengths for simultaneously knitting two layers of fabric, thus contributing significantly in driving the growth of the double large circular knitting machine segment.

By Application :

The application segment is classified into apparel textiles, home textiles, fashion clothes, sportswear, automotive seats, technical textiles, medical wear, and others. Apparel textiles accounted for the largest market share of 18.7% in 2022 as large circular knitting machines are widely employed in the production of T-shirts and tops. The machines efficiently create seamless tubular fabrics with a smooth surface and good drape, meeting the requirements of casual and basic apparel. Additionally, large circular knitting machines also produce fabrics with complex stitch patterns, textures, and designs, hence are suitable for the production of sweaters and cardigans. The machines create different stitch structures namely cables, ribs, jacquard patterns, and intarsia designs on textiles efficiently, thus raising the demand for apparel textiles segment.

For instance, in March 2022, according to the Indian Ministry of Textiles, the export of apparel and textiles in India from April-January 2021-22 was approximately USD 34.46 billion witnessing a rise of 49% in the same duration of period in 2020-21. Subsequently, the expanding apparel textiles sector contributes remarkably in bolstering the growth of the global circular knitting machine market.

Sportswear is expected to register the fastest (CAGR) among the mentioned applications for large circular knitting machines. The growth is attributed to the significant increase in fitness consciousness and the adoption of active lifestyles worldwide. Consumers are becoming more aware of the importance of regular physical activity and are actively participating in sports and fitness activities. The trend has led to a surge in the demand for sportswear that increases the need for large circular knitting machines to knit the fabric. Additionally, sportswear requires specialized fabrics that offer features including moisture-wicking, breathability, stretchability, and durability. Large circular knitting machines enable the development of high-performance fabrics to enhance athletic performance and provide comfort during physical activities. Subsequently, the aforementioned factors are collectively responsible in boosting the market growth in the upcoming years.

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By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share in the year 2022 as the region is known for technological advancements and innovation in various industries, including textiles. The region has a strong focus on research and development, leading to the development of advanced large circular knitting machines. The machines incorporate cutting-edge technologies namely computerized controls, automation, and digitalization to enhance efficiency, productivity, and product quality. Additionally, the growing demand for technical textiles in North America raises the need for specialized manufacturing processes and machinery. Large circular knitting machines are well-suited for producing technical textiles used in industries including automotive, healthcare, and protective applications. For instance, in October 2021, according to the North Carolina State University, North Carolina encompasses 395 textile manufacturing establishments and approximately 25,000 employees. Furthermore, North Carolina exports USD 1.4 billion in textiles worldwide, occupying approximately 20% of all U.S. textile exports.

Asia Pacific accounted to USD 344.70 million in 2022 and is expected to register the fastest CAGR of 5.8% accounting to USD 537.15 million in 2030 in the large circular knitting machine market. In addition, in the region, China accounted for the maximum revenue share of 26.68% in the year 2022. The high penetration rate of western culture in Asia Pacific countries increases the demand for fashion clothes including high-street fashion, luxury brands, and designer labels. Additionally, the growing interest of citizens in sports and fitness activities is driving the demand for sportswear, which in turn, is accelerating the growth of the market. Large circular knitting machines are crucial for the production of fashionable and performance-oriented textiles, thus contributing significantly in propelling the market growth. Moreover, many global textile and apparel manufacturers are shifting their production bases to Asia-Pacific countries due to lower production costs, availability of skilled labor, and favorable government policies. The region's cost-effectiveness and production capabilities serve as an attractive destination for textile and apparel manufacturing, hence driving the growth of the large circular knitting machine market.