The biggest fallout of the global recessionary trends has been on the machinery sector, more so, on the sewing machine industry, which was on a high growth trajectory, in the last few years, due to the rapid development of the clothing manufacturing sector in Asia.
But the impact of the economic meltdown was felt first on capital expenditure as companies started to face a liquidity crisis and this in turn put brakes on new investment in plant and machinery, the pinch of which was also felt by the sewing machine industry.
Fibre2fashion in its continuing series on bringing the impact of the crisis on various sectors spoke exclusively to Mr Ryo Marui, spokesperson of the Japan based sewing machine association; 'All Nippon Special Sewing Machinery Manufacturer's Association'.
Speaking to Fibre2fashion, Mr Marui said, “Due to the explosive growth of Chinese sewing machinery manufacturers, who produce low cost sewing machines, sales volume of Japanese machinery has scaled down year by year since last 10 years, due to which many businesses have closed down”.
He added by saying, “Some Japanese sewing machine makers are doing research and development to use sewing machines for applications other than garments like in advanced industrial materials area and develop new special machinery by using sewing machinery's technology”.
We then asked him to comment on, as to when he expected restoration of normalcy in global economic order and demand to revive to which he optimistically replied by saying, “By early next year”.
Source: www.fibre2fashion.com
