Textile Machinery Market Size to Boost $33.2 Billion By 2026 | CAGR 6.3%
Textile Machinery Market Drivers Growing Textile Industry is Expected to Drive the Textile Machinery Market
HYDERABAD, TELANGANA, INDIA, December 16, 2022/EINPresswire.com/ — IndustryARC, in its latest report, predicts that Textile Machinery Market size is forecast to reach $33.2 billion by 2026, growing at a CAGR of 6.3% from 2021 to 2026. The growth of Textile Machinery market is attributed to the factors such as growing automation process, various government policies and regulations, rising textile industry and others. Moreover, technological advancements such as nano-technology inventions, digital printing technology, biotechnology, ultrasonic wet processing technology and plasma technology boosts the market growth. New machinery for various operations such as printing, dyeing, bleaching, and mercerizing have been introduced. Textile producers are investing in the purchase of textile machinery due to the latest textile finishing technology, which is utilized to increase fabric quality. Nanotechnology in clothing saves energy and resources while producing more scientific clothes with features like water repellency, fire resistance, and self-cleaning. Another recent textile industry breakthrough is the use of laser printing, which gives clothing a consistent appearance. Digital printing is chosen for complicated and multilayer printing, whereas 3D printing is used to manufacture creative clothing. As a result, in order to apply such cutting-edge technology and advances to textiles, there is a growing need for the most up-to-date textile machinery, which drives the textile machinery market. Furthermore, rising demand for non-woven fabrics which require specialized texturing and finishing machinery during production further drive forward the Textile Machinery market in the long run. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. Growing competition among textile producers along with increasing investment in textile production is paving a way towards the market growth for textile machinery market.
2. Increased implementation of Textile Machinery in the Garments/Apparels sector for enhancing skin sensory comfort and thermo-physiological comfort with rising investment towards development of products is expected to open up new opportunities for market growth.
3. APAC region is anticipated to dominate the global Textile Machinery market in the forecast period 2020-2025 owing to rising industrialization, economic development and others. The manufacturers in this region are strengthening indigenous R&D efforts and technological back-up which was almost nonexistent earlier.
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1. The polyester segment is anticipated to witness significant market growth with CAGR 8.5% during the forecast period 2021-2026. Polyester fiber has become the fiber of choice within the textile industry, because of its physical properties, recyclability, versatility and price, which offers a unique set of advantages unmatched by other fibers.
2. Garments sector held the highest market share in 2020 and is projected to grow with CAGR of 7.2% during the forecast period 2021-2026. Skin sensory comfort and thermo-physiological comfort have arisen as key trends in the clothing business, and corporations are investing in the creation of goods that can suit these expanding requirements.
3. APAC region held the highest market share in 2020 with market share of around 74%. The region is likely to retain its dominance over the projection period as well.
4. Japan’s textile machine sector, like its textile industry, is fast developing. Machineries and equipment made in Japan account for 80% of sales in the domestic textile machine sector.
The top 5 players in the Textile Machinery industry are –
4. Toyota Industries
5. American Textile Machinery Association
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