Industry experts predict a rising demand in the global textile machinery market. A new market study published by Global Industry Analysts Inc. analyzed 137 manufacturers in reaching a conclusion that demand will rise over the next seven years.
According to the report, “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.”
Highlights of the report include:
- The U.S. market is estimated at 39.1 thousand units.
- The Asia-Pacific market is forecast to reach 3.8 million units.
- The knitting machines segment is predicted to reach 260.7 thousand units, reflecting a compounded annual growth rate of 27.4% over the seven-year analysis period.
The review is an ongoing global program . More details are available at the Global Industry Analysts’ website.