Dublin, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The "Textile Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global textile machinery market size reached US$ 27.8 Billion in 2022. Looking forward, the market is set to reach US$ 41.2 Billion by 2028, exhibiting a CAGR of 6.78% during 2022-2028.
Textile machinery is used to process fabrics by weaving, knitting, crocheting, tatting, felting, bonding, and braiding raw fibers into textiles. It ranges from lace making and quilting machines to textile finishing and spinning equipment, which are used in cotton mills, wool mills, and garment factories for manufacturing different clothes.
At present, several manufacturers are introducing automated textile machinery to enhance product uniformity, reduce manual efforts, and design seamless dresses and outfits with intricate embroidery. Significant growth in the apparel industry, along with the abundant availability of raw materials like cotton and jute, represents one of the key factors stimulating the market growth.
Moreover, the emerging fast-fashion trend is catalyzing the demand for textile machinery to design contemporary clothes with innovative fabrics, patterns, styles, colors, and designs. This can also be attributed to the increasing adoption of premium style clothing on account of rapid urbanization, inflating disposable incomes, and the rising influence of social media.
Apart from this, the escalating demand for textile recycling due to rising environmental concerns and the increasing awareness among individuals about the detrimental impact of waste incineration is contributing to the market growth. Furthermore, the expanding application of smart textiles embedded with electronic components, conductive threads, and advanced technologies in various end use industries is providing a positive outlook for the market.
Besides this, key players are launching medical textile machines that provide modular and customizable support to meet customer requirements. This, in confluence with the increasing prevalence of chronic diseases and the rising use of medical textiles for first aid, clinical, surgical, and hygienic purposes, is anticipated to propel the market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $27.8 Billion |
| Forecasted Market Value (USD) by 2028 | $41.2 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Key Questions Answered in This Report:
- What was the size of the global textile machinery market in 2022?
- What is the expected growth rate of the global textile machinery market during 2023-2028?
- What are the key factors driving the global textile machinery market?
- What has been the impact of COVID-19 on the global textile machinery market?
- What is the breakup of the global textile machinery market based on the machine type?
- What is the breakup of the global textile machinery market based on the application?
- What are the key regions in the global textile machinery market?
- Who are the key players/companies in the global textile machinery market?
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- A.T.E. Private Limited
- Benninger AG (Jakob Muller AG)
- Camozzi Group S.p.A.
- Itema S.p.A.
- Lakshmi Machine Works Limited
- Murata Machinery Ltd.
- OC Oerlikon Management AG
- Rieter
- Santex Rimar Group
- Santoni S.P.A.
- Saurer Intelligent Technology AG
- TMT Machinery Inc.
- Toyota Industries Corporation
- Trutzschler Group SE
Key Market Segmentation:
Breakup by Machine Type:
- Spinning Machines
- Weaving Machines
- Knitting Machines
- Texturing Machines
- Others
Breakup by Distribution Channel:
- Direct
- Indirect
Breakup by Application:
- Garments and Apparels
- Household and Home Textiles
- Protective Textiles
- Medical
- Automotive
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/go90ll
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