The global textile machinery industry has become one of the major factors that facilitates the booming of the global textiles and apparel industry. The latest market report from Technavio reveals that the global textile machinery industry is expected to grow at a staggering rate of 13.8% from 2015 to 2020. Emerging economies in Asia Pacific, such as China and India are currently dominating the global textile machinery market with nearly 90% of the market share in the globe, while Europe and North America follow behind with market shares of 7.6% and 1.3% respectively.
Today, textile machinery plays an important role in shifting global textile and garment industry from labour-intensive production to a more advanced and industrialized sector. Some major segmented machinery include Fiber-Fabric Machinery (Cleaning & Opening Machinery, Carding & Combing Machinery, Drawing & Rowing Frames, Spinning & Twisting Frames, Yarn Winding Machines,Yarn Preparing Machines, and Other Fiber-To-Fabric Machines), Fabric Machinery ( Weaving Machinery, Knitting Machinery, and Other Fabric Machinery), Other Textile Machinery (Bleaching, Mercerizing & Dyeing Machinery, Textile Printing Machinery, Textile Finishing Machinery, and Other Complete Textile Machinery) etc.
China, Japan, Italy, Germany, and Switzerland are currently among the top textile machinery producers in the world. When it comes to the regions, Asia Pacific is expected to continue leading the world textile machinery market both in market size and growth rate. With the significant growth of textile and apparel industry in the region over the recent decade, the demand for textile machinery is also estimated to grow with a massive CAGR of 14.7% from 2015 to 2020, representing the highest growth rate in the world.
Apart from the growing investments in textile machinery, the increasing productions in those major textile manufacturing countries such as China, Pakistan, India, Bangladesh, Indonesia and Vietnam etc. are also the main contributors to keep the momentum in the region.
Spinning and weaving mills are the most popular textile machinery used in Asia Pacific. In fact, Asia Pacific has the highest installed capacity of spinning machine and weaving mill in the world, representing 83.4% and 81.7% respectively. These high volumes of installed capacity also reflected the growing production of yarn and fabrics in the region.
With the development of industrialization and modern economy, many major textile manufacturing countries have shifted their focuses much more to the technology and innovation. Therefore, one of the major trends in textile machinery industry will be the increasing usage of automation and robotics. The new automated textile machinery is becoming more and more important for the developed markets where labour is expensive and the industry needs more automation for reducing their operation costs. Moreover, most of the current textile industries in developing countries which are still mainly labour intensive, also means the textile machinery has huge potential in the wider global market.
Among all the segments of textile machinery, the textile machinery parts & accessories market is projected to have the fastest growing rate over the next few years; The growth of other textile machinery market comprising bleaching, mercerizing & dyeing machinery, textile printing machinery, textile finishing machinery, will follow behind; while Fiber-fabric machinery is also expected a good prospect in near future.
Another major trend that has been brought to the spotlight over the recent years is that the market for secondary textile machinery is also growing, especially in emerging markets. Due to the different textile production of certain levels by means of second-hand textile machines will be more cost-effective.
Overall, it’s believed that with the increasing investment, demand and shipments in countries like China, India, Pakistan, Bangladesh whose economy is largely dependent on textile and apparel industry, the global textile machinery market will be further boosted.
Due to the growing competition in the global textile and fabric market, businesses are using networking websites like BizVibe’s fabrics and textiles industry section to find quality business partners. So whether you are looking for importers, exporters or manufactures there is a place for you to start on BizVibe.