London, May 31, 2023 (GLOBE NEWSWIRE) -- With global populations continually rising, the need for adequate clothing is also expected to increase. Higher disposable incomes and an ever-evolving sense of fashion are equally crucial to the further growth of the clothing industry. This increase in demand is expected to have a profound influence on the expansion of the textile machinery market, without which most of these products would either not be available at all, or limited items would be made available at a given time.
Textile machinery is necessary for manufacturers, particularly in population-dense zones. Additionally, there continues to be advancements being made in the textile industry. Digitization, automation, robotics, smart manufacturing techniques that improve productivity, enhance product quality, and lower overall labour costs, as well as the use of Internet of Things (IoT), and Artificial Intelligence (AI) to efficiently monitor and control machinery operations are all elements that are expected to further boost the growth trajectory of the textile machinery market.
“The drive to adopt eco-friendly practices by various manufacturers will augment the adoption of advanced textile machinery in the years to come,” states an analyst at Fairfield Market Research.
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Insights into Segmentation Analysis
The global textile machinery market is segmented on the basis of – Machinery Type, End-User Industry, and Region. With respect to the Machinery Type aspect of this market, the ‘Spinning Machinery’ sub-segment is slated to account for the majority share of this market. This high demand is primarily attributed to the continuous need for yarn production in various textile applications. Whereas, from an ‘End-User Industry’ segmentation perspective, the ‘Apparel' sub-segment accounted for the largest share in this global market owing to changing fashion trends, increasing disposable incomes, and global urbanization, not to mention population growth.
Insights into Regional Analysis
As per a study conducted by Fairfield Market Research, the Asia Pacific region is projected to account for the majority market share and is headed for significant growth. The presence of textile production and powerhouse entities in this region as well as favorable governmental policies are factors expected to boost this region’s economic prospects. Europe and North America are also expected to index considerable growth in the years ahead. This can be chalked up to the use of high-quality machinery, an emphasis on sustainability, the presence of established industry leaders, as well as the adoption of technological innovations to boost productivity.
Key Market Players
Benninger AG (Jakob Müller AG), A.T.E. Private Limited, Mayer & Cie. GmbH & Co. KG, Camozzi Group SpA., Lakshmi Machine Works Limited, Toyota Industries Corp., Itema SpA, LONATI SPA, Murata Machinery Ltd., OC Oerlikon Corp. AG, Navis TubeTex, and Rieter Holding AG, constitute some of the major competitors dominating the competitive landscape of the global textile machinery market.
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Key Elements Included In The Study: Global Textile Machinery Market
- Textile Machinery Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2019 - 2022
- Market Value at Regional and Country Level, 2023 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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