Global Textile Machinery Market to Reach 10.1 Million Units by 2026
SAN FRANCISCO, May 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Textile Machinery - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Engagements: 1962
Companies: 137– Players covered include A.T.E. Enterprises Private Limited; Batliboi Ltd.; Benninger AG; Itema S.p.A.; Kirloskar Toyoda Textile Machinery Pvt. Ltd.; Lakshmi Machine Works Ltd.; Mayer & Cie GmbH & Co. KG; Murata Machinery Ltd.; Navis TubeTex; OC Oerlikon Management AG; Picanol Group; Rieter AG; Santoni S.p.A.; Saurer AG; Savio Macchine Tessili S.p.A.; TMT Machinery Inc.; Toyota Industries Corporation; Trützschler GmbH & Co. KG; Veejay Lakshmi Engineering Works Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Machine Type (Spinning Machines, Draw Texturizing Machines, Knitting Machines, Other Machine Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Textile Machinery Market to Reach 10.1 Million Units by 2026
Textile machinery encompasses all types of machinery used for production as well as processing of different fibers, yarns, cloth and fabrics. Applications of textile machinery range from spinning to fabric manufacturing and dyeing. Ever-changing fashion trends create continuous demand for newer textiles which generates demand for textile machinery that creates specialized effects on fabrics for example, embossing. Demand is also high for machines that perform specific tasks such as mercerizing, which is a process for increasing shimmer and strength of cotton. Amid the COVID-19 crisis, the global market for Textile Machinery estimated at 5.9 million units in the year 2020, is projected to reach a size of 10.1 million units by 2026, displaying at a CAGR of 9.1% over the analysis period. Spinning Machines, one of the segments analyzed in the report, is projected to record a 7.6% CAGR to reach a market size of approximately 8.8 million units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Draw Texturizing Machines segment is projected to spiral at 18.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at 39.1 Thousand Units, While Asia-Pacific is Forecast to Reach 3.8 Million Units
Textile Machinery market in the U.S. is estimated at 39.1 thousand units in the year 2021. Asia-Pacific is forecast to reach a projected market size of 3.8 million units by the year 2026 trailing a CAGR of 9.4% over the analysis period. Among the other noteworthy geographic markets are Japan, China and Europe, each forecast to grow at a CAGR of 6.6%, 9% and 8% respectively over the analysis period. A key ongoing trend in the market is the continued automation of machinery. Adoption of robots allows manufacturers to expedite production cycles, reduce labor costs, push safety, improve quality, and drive notable gains in terms of efficiency and productivity. Artificial intelligence also holds special significance in supporting textile manufacturing and helping companies achieve high efficiency, accuracy and continuity in production systems and equipment.
Knitting Machines Segment to Reach 260.7 Thousand Units
Global market for Knitting Machines is estimated at 58.9 Thousand Units in 2020, and is projected to reach 260.7 Thousand Units by 2026 reflecting a compounded annual growth rate of 27.4% over the analysis period. China constitutes the largest regional market for Knitting Machines segment, accounting for 80.4% of the global sales in 2020. Rest of World is poised to register the fastest compounded annual growth rate of 28.8% over the analysis period, to reach 2.7 Thousand Units by the close of the analysis period. Increasing demand for 3D fabrics is driving demand for 3D weaving and 3D knitting machinery. 3D weaving machinery facilitates in developing multilayer textiles with complex structure for composite reinforcements. More
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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