Textile Machinery Market Outlook [2023-2030] | Industry Analysis by Size, Growth, Share, And Trends Forecast Report
Textile Machinery Market Major Manufacturers Covered in The Report Include Camozzi Group SPA (Italy), Lakshmi Machine Works Ltd. (Coimbatore), LONATI SPA (Italy), Mayer & Cie. GmbH & Co. KG (Albstadt, Germany), Murata Machinery Ltd. (Kyoto, Japan), Navis TubeTex (North Carolina, U.S.), OC Oerlikon Corp. AG (Pfäffikon, Freienbach, Switzerland), Rieter Holding AG (Winterthur, Switzerland), Toyota Industries Corp (Kariya, Aichi, Japan)
Pune, India, March 09, 2023 (GLOBE NEWSWIRE) — The global textile machinery market size is expected to grow considerably in the upcoming years. Strong demand from the clothing industry and rising investments in cotton ginning are expected to propel market progress. Fortune Business Insights™ provides this information in its report titled “Textile Machinery Market, 2022-2029.”
COVID-19 Impact:
Manufacturing Restrictions to Impede Market Growth
This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions on manufacturing. The alarming spike in COVID patients led to the imposition of stringent lockdown norms. This factor created supply chain disruptions. Furthermore, restrictions on transport led to a raw material shortage. However, manufacturers adopt reduced capacities, part-time shifts, and automated production techniques to balance their costs. This factor may propel the market during the pandemic.
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Segmentation
By type, the market is segmented into spinning machines, weaving machines, knitting machines, and texturing machines. As per the industry, it is bifurcated into the textile industry and clothing industry. Geographically, it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Driving Factors
Robust Demand for Non-Woven Fabrics to Incite Market Progress
Textile machinery is used to process and manufacture textiles, garments, and other materials. The rising demand for non-woven fabrics is expected to enhance the demand for textile machinery. Further, rising investments in cotton ginning machinery may enhance the adoption of the machinery. Moreover, the rapid development of the fashion industry is expected to enhance the adoption of the machine. Rising per-capita income and development are expected to elevate adoption. Also, increasing awareness regarding the versatility of the machinery is expected to drive the textile machinery market growth.
However, the high maintenance costs of the machine may hinder market progress in the upcoming years.
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Regional Insights
Robust Demand for Clothing Industry to Enhance Market Progress in North America
North America is expected to dominate the textile machinery market share because of the rising demand for the machine from the clothing industry. Furthermore, rapid industrialization is expected to enhance the demand for machines. Moreover, rising population and disposable income are expected to enhance the market development.
In Europe, strong demand for knitting machinery is expected to enhance the demand for the textile machinery from the clothing industry. In addition, rising import-export of manufacturing is expected to enhance industry growth.
In Asia Pacific, rising foreign direct investments are likely to foster textile machinery adoption. Further, strong investments in the garment and textile industry may enhance industry progress.
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Competitive Landscape
Major Companies Announce Novel Product Line-up to Bolster Brand Image
Prominent companies operating in the market announce novel product range to enhance their brand image. For example, Camozzi announced novel radial grippers series CGSY to maintain even performance across several applications and enhance productivity. This development may allow Camozzi to attract consumers and elevate its brand image. Furthermore, companies engage in novel product launches, acquisitions, research and development, expansions, partnerships and enhance brand image globally.
Industry Development
- January 2021: Mayer Braidtech announced its merger with Mayer & Cie. This merger may enable the company to integrate Mayer Braidtech GmbH at the Albstadt headquarters.
List of Key Players Operating in the Textile Machinery Market Report
- Camozzi Group SPA (Italy)
- Lakshmi Machine Works Ltd. (Coimbatore)
- LONATI SPA (Italy)
- Mayer & Cie. GmbH & Co. KG (Albstadt, Germany)
- Murata Machinery Ltd. (Kyoto, Japan)
- Navis TubeTex (North Carolina, U.S.)
- OC Oerlikon Corp. AG (Pfäffikon, Freienbach, Switzerland)
- Rieter Holding AG (Winterthur, Switzerland)
- Toyota Industries Corp (Kariya, Aichi, Japan)
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