Global Hosiery Machines Market Size (2023-2030)

The Global Hosiery Machines Market was estimated to be worth USD 34.50 billion in 2022 and is projected to reach a value of USD 47.22 billion by 2030, growing at a CAGR of 4% during the forecast period 2023-2030.

Knitting machines known as hosiery machines are used to make many kinds of hosiery, including socks and stockings. Circular knitting machines, the most prevalent variety that creates around 95% of all hosiery produced, are one of the many varieties of these machines. The diameter of the needle cylinder, the number of needles in the cylinder, the gauge, the quantity of loop-forming systems, and the existence of unique mechanisms are among the technical requirements for hosiery machines. Hosiery machines' productivity varies substantially depending on the kind of article and the machine. Cotton and polyamide yarns are the primary basic materials utilized. Typically, single-cylinder machines with two, four, or eight loop-forming systems are used to manufacture women's socks. The closed toe of the socks is a feature of the most recent automated circular hosiery machines.

Global Hosiery Machines Market Drivers:

In the future, the market for hosiery machines is anticipated to benefit greatly from the rising demand for hosiery products:

Numerous reasons are contributing to an increase in the demand for hosiery items.  The demand for hosiery items is expanding as the population grows. The demand for clothing, especially hosiery, increases with the general population. Increased disposable income of consumers is driving demand for hosiery products. When their disposable income increases, consumers want to spend on clothing, especially hosiery products. Changing trends are another factor affecting the hosiery products market. As fashion trends change, consumers are likely to buy new hosiery products to keep up with the latest trends. The growth of e-commerce platforms that make it easier for consumers to buy hosiery products online is another factor contributing to the expansion of the hosiery industry.

The growth of the textile industry, which increases consumer demand for a range of hosiery items, is primarily what drives the market for hosiery machines:

The textile sector is growing quickly, especially in developing nations like Bangladesh, China, and India. Many reasons, such as increased disposable income, population expansion, and changes in design trends, are fueling this rise. The need for hosiery goods expands along with the textile sector, which in turn fuels the demand for hosiery machines. The market for hosiery machines is expanding as a result of the rising output of textiles like cotton and nylon. The creation of hosiery items frequently uses these materials, and as their output rises, so does the need for hosiery equipment. The need for hosiery machines is also being fueled by the expanding use of cutting-edge technology in the textile sector, including computer-aided design and manufacture. To efficiently make high-quality hosiery goods, these technologies call for sophisticated hosiery machines.

Global Hosiery Machines Market Challenges:

Technology is advancing quickly in the hosiery machines industry, making it challenging for producers to stay abreast of current trends and consumer preferences:

For hosiery machines to operate more effectively, productively, and with higher quality, new technologies are continually being developed. This may result in the frequent need for updates and the obsolescence of older equipment. To stay current with fashion trends and create new products that address the market's shifting demands, manufacturers must spend money on research and development. Smaller firms who may not have the means to spend on R&D may find this to be a serious obstacle. Additionally, it may be challenging for manufacturers to train their staff on the newest tools and technologies due to the quick speed of technological advancement. As a result, there may be a labor scarcity, which might reduce machine productivity and effectiveness. To overcome these obstacles and stay competitive in the market, producers must keep up with the most recent trends and invest in cutting-edge technology.

COVID-19 Impact on Global Hosiery Machines Market:

On the market for hosiery machines worldwide, the COVID-19 epidemic has had a considerable effect. The epidemic has disrupted global supply networks, which has resulted in a lack of the raw ingredients and parts needed to make hosiery machines. Hosiery machine deliveries have been delayed as a result, and production costs have gone up. Additionally, as customers cut back on their spending on non-essential things as a result of the pandemic, the demand for hosiery products has decreased. As a result, manufacturers have decreased their output to match the decreased demand, which has resulted in a reduction in the need for hosiery machines. But because healthcare personnel needs specialized hosiery items to protect themselves from infection, the pandemic has also increased demand for hosiery products in the healthcare industry. The need for hosiery machines that can create specialty hosiery items for the healthcare industry has increased as a result of this.

Global Hosiery Machines Market Recent developments:

• In May 2023: Leading hosiery machine maker Lonati introduced a new line of computerized circular knitting machines for seamless hosiery goods. These machines have fast speeds, minimal energy requirements, and intelligent control systems.
• In January 2023: A prominent manufacturer of hosiery equipment named Busi Giovanni recently unveiled a new kind of single-cylinder sock knitting machine with a Rimaglio system that enables automated toe-closing of the socks without any operator assistance.

HOSIERY MACHINES MARKET REPORT COVERAGE:

Global Hosiery Machines Market Segmentation:

Global Hosiery Machines Market Segmentation:  By Type

• Circular knitting machines
• Flat knitting machines
• Sock knitting machines

The dominant category of hosiery machines worldwide is circular knitting machines. This is because circular knitting machines are the ones most frequently utilized to create hosiery items like socks and stockings. They are adaptable and capable of producing a variety of hosiery items, from straightforward socks to those with more intricate patterns. Circular knitting machines are also quite effective and can manufacture hosiery items more quickly than other types of equipment.

Sock knitting machines are the category of hosiery machines that is expanding at the highest rate. This is a result of growing sock demand, notably in the sports and fitness sector. Sock knitting machines are specialized devices made to manufacture socks with extreme accuracy and quality. From simple sports socks to specialized compression socks, they are employed in the production of a broad variety of socks.

Global Hosiery Machines Market Segmentation: By Application

• Socks
• Stockings
• Tights
• Leggings

The socks industry dominates the market for hosiery machines out of all the applications. This is because socks are the most frequently produced hosiery item and are in great demand worldwide. Sports, fashion, and health care are just a few of the uses for socks, thus there is a significant need for hosiery machines that can make high-quality socks quickly.

Leggings are the category of hosiery machines that continue to grow the quickest worldwide. This is a result of leggings becoming a more fashionable fashion accessory, especially among women. Because leggings are adaptable and can be worn in a variety of situations, there is a rising need for hosiery machines that can effectively make leggings of excellent quality.

Global Hosiery Machines Market Segmentation: By End-use Industry

• Fashion
• Healthcare
• Sports

The fashion industry is the major sector of the global hosiery machines market among the several end-use industries for hosiery machines. This is due to the widespread usage of hosiery goods as fashion accessories and their strong demand worldwide for items like socks, stockings, tights, and leggings. New trends and fashions are continuously appearing in the fashion world, which increases the demand for hosiery machines that can make high-quality hosiery items quickly.

The healthcare sector is the one in the hosiery machines market that is experiencing growth the quickest. This is a result of the rise in popularity of specialty hosiery items like compression stockings, which are used to treat a variety of medical disorders like varicose veins and deep vein thrombosis. Particularly in industrialized nations with aging populations, hosiery machines that can create specialized hosiery goods for the healthcare business are in great demand.

Global Hosiery Machines Market Segmentation: By Sales Channel

• Direct sales
• Online sales

The biggest sector of the worldwide market for hosiery machines among the many sales channels is direct sales. This is because hosiery machines are frequently expensive goods that need specialized operating knowledge and skill. Manufacturers can offer consumers the technical assistance and instruction needed to run the devices efficiently through direct sales.

Online sales are the market sector for hosiery machines that is expanding the quickest. This is a result of e-commerce platforms becoming more and more well-liked, which makes it simpler for clients to buy hosiery machines online. Manufacturers may also access a larger client base and save their distribution expenses by using online sales.

Global Hosiery Machines Market Segmentation: By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

The market for hosiery machines worldwide is dominated by Asia Pacific more than any other area. This is because there are numerous sizable textile-producing nations nearby, including Bangladesh, China, and India, all of which are significant hosiery product manufacturers. The need for hosiery goods, which drives the demand for hosiery machines, is driven by the region's growing population, rising disposable income, and shifting fashion trends.

The Middle East & Africa region is the hosiery machine market's fastest-growing sector. This is a result of the region's rising need for hosiery goods, especially in the healthcare industry. As the population in the area ages, there is a rising need for specialized hosiery items like compression stockings, which are used to treat a variety of medical ailments.

Key Players:

1. Santoni S.p.A.
2. Lonati S.p.A.
3. Shaoxing Jinhao Machinery Co., Ltd.
4. Zhe Weihuan Machinery Co., Ltd.
5. Busi Giovanni Srl
6. Rimoldi & CF Srl
7. Nagata Seiki Co., Ltd.
8. Karl Mayer Textilmaschinenfabrik GmbH
9. Fukuhara Industrial & Trading Co., Ltd.