Global Textile Machinery Market to Reach US$ 41.2 Billion by 2028, Impelled by Expanding Apparel Industry

May 03, 2022 | Other Reports

IMARC Group’s latest report, titled “Textile Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global textile machinery market reached a value of US$ 27.8 Billion in 2022. Textile machinery refer to the equipment used to process and manufacture fabrics, textiles, garments, and other materials. Some of the commonly used textile machinery include cutting, spinning, embroidery, lace making, textile finishing, and quilting machines. These machines are widely employed for weaving, knitting, crocheting, tatting, felting, bonding, and braiding raw fibers into textiles. They are also utilized to fabricate dyes and finishes for fiber, yarn, and thread. As a result, textile machinery finds extensive applications in garment factories and cotton and wool mills for fiber processing, yarn production, dyeing, printing, finishing, and fiber pre-treatment.

Global Textile Machinery Market Trends:

The expanding apparel industry and the escalating demand for luxury clothing represent the primary factors driving the market growth. Additionally, with the emerging fast fashion trends, there has been widespread adoption of textile machinery to design modern clothes with innovative fabrics, designs, patterns, and styles. In line with this, the growing need for textile recycling due to the increasing environmental concerns and rising awareness among the masses regarding the adverse effects of waste incineration has catalyzed the product demand. Besides this, the advent of smart textiles integrated with electronic components, conductive threads, and innovative technologies has positively influenced market growth. Furthermore, the leading manufacturers are launching automated textile machinery that designs seamless outfits with intricate embroidery, ensures product uniformity, and decreases manual efforts. Apart from this, the growing usage of medical textiles for first aid, clinical, surgical, and hygienic purposes has accelerated the adoption of medical textile machinery. Other factors, including the abundant availability of raw materials, such as cotton and jute, rising social media influence, rapid urbanization, inflating consumer expenditure capacities, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, the market value is expected to reach US$ 41.2 Billion by 2028, growing at a CAGR of 6.4% during the forecast period (2023-2028).

Market Summary:

Based on the machine type, the market has been segregated into spinning, weaving, knitting, texturing, and other machines. Amongst these, spinning machines represent the largest market segment.
On the basis of the distribution channel, the market has been bifurcated into direct and indirect.
The market has been divided based on the application into garments and apparel, household and home textiles, protective textiles, medical, automotive, and others. Currently, garments and apparel exhibit a clear dominance in the market.
Region-wise, Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) holds the leading position in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being A.T.E. Private Limited, Benninger AG (Jakob Müller 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, Toyota Industries Corporation, and Trützschler Group SE.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Machine Type, Distribution Channel, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	A.T.E. Private Limited, Benninger AG (Jakob Müller 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, Toyota Industries Corporation and Trützschler Group SE
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Global Textile Machinery Market to Reach US$ 41.2 Billion by 2028, Impelled by Expanding Apparel Industry

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