TEXTILE MACHINERY ASIA PACIFIC INDIA & CHINA
INDIA
By IFAB MEDIA - NEWS BUREAU - April 28, 2023 | 138 7 minutes read
Asia Pacific accounted for dominant share of the market in 2022 due to continuous growth in the textile industry and increase in import and export activities in countries, such as India and China
As per the study, the global textile machinery market was valued at US$ 26.2 Bn in 2022 and is estimated to advance at a compound annual growth rate (CAGR) of 5.3 percent during the forecast period from 2023 to 2031.
Textile machinery is used to process natural fiber products, such as cotton and silk, and different artificial fiber products, such as nylon and polyester. Textile machines can produce 1,200 rolls a month on average and have adjustable configuration by accommodating an extensive range of roll sizes and diameters.
Some of the popular textile machines are weaving machines, spinning machines, finishing machines, dyeing machines, ginning machines, quilting machines, and knitting machines.
Launch of new textile machinery is helping prominent market players generate revenue and gain an edge over other companies. Additionally, leading market players are collaborating with other market players to expand their presence and increase revenue share.
Key findings of market study
Textile machinery market - key players
The global market is competitive and has several international and local players. Entry of new players is likely to intensify the competition during the forecast period.
Well-established textile machinery market players are investing significantly in research and development activities to manufacture new equipment that meet consumer needs. Increase in demand for improved products is likely to help create business opportunities in the next few years.
Few key players operating in the market are Toyota Industries Corporation, Santex Rimar Group, Saurer Intelligent Company, Benninger AG, and Rieter.
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