According to the report “Textile Machinery Market: By Types (Textile Machinery Market, Textile working machinery equipment and accessories); By Device (Draw Frames, Fabric cutters, Dyers); By Raw Material ( Cotton, Silk, Wool, Polyester, Acrylic); By end-user Industry (Cotton Mill, Garment Industry, Wool Mill, Textile Industry); By Geography - Forecast(2018-2023),” published by IndustryARC, the global textile machinery market is estimated to reach $7.17 billion by 2025.
Browse 87 Market Tables and 35 Figures spread across 188 Pages and an in-depth TOC on “Textile Machinery Industry Market”
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According to a recent study by IndustryARC, the Textile Machinery Market is forecast to reach $7.17 billion by 2025 growing at a healthy CAGR of 7.99%. The growth of the Textile Machinery Market can be attributed to the increasing population and disposable incomes in various regions.
The market for Textile Machinery is going to experience robust growth owing to the broad range of technology introduced in the processing industry. The technological innovations in the textile industry will improve the work efficiency by reducing the uptime hours, increasing the production capacity, improving the quality of products, and ensuring safer working environments, which will plunge in the growth of Textile Machinery Market globally. The overall industry under textile machinery will account a huge share around the globe, due to the increasing demand for textile by 2025. Owing to the quality and the production rate the market offers an excellent opportunity and enhance the efficacy of the textile machinery.
Asia-Pacific was the leading market for Textile Machinery globally in 2018 and is further expected to grow in the future. The textile industry in India and China has witnessed a spurt in investment in the past few decades. The U.S., South Korea, and the Middle East & North Africa countries are the major exporters of textile, and thus, offer opportunities for the textile machinery industry. Moreover, international trade in the textile industry has appeared the dynamic growth all around the world which will grow the textile machinery market. Furthermore, low-cost manufacturers in developing countries and high-cost manufacturers in developed countries will divide the market into two part, based on the labor expenses and automated machinery incorporated.
The major players in this market include
- Toyota Industries
- American Textile Machinery Association
- Intertrad Group
- Others (Itema Group, Itema, ITEMA)
Textile machinery manufacturers have utilized mergers and acquisitions as well as product launches to augment entry into related markets and enhance core competencies through additions to product portfolio as well as leverage capabilities of acquired companies to gain a foothold in the emerging markets.
The various application segments covered in the report include:
- Cotton Mill
- Garment Factory
- Wool Mill
- Textile Industry
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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