Spinning a Profit: Global Textile Machinery Market Expected to Reach $4.24 Billion (Fact.MR Analysis)
Deployment of Automated Textile Machinery Increasing for Optimizing Output and Reducing Labor Expenses
ROCKVILLE PIKE, MD, UNITED STATES, May 20, 2024 /EINPresswire.com/ -- Textile machine manufacturers and textile producers are progressively integrating automation, robots, and data-driven technology into their processes. It enables textile manufacturers to increase the efficiency and productivity of their operations. The global textile machinery market is estimated at a value of US$ 1.47 billion in 2024 and is forecasted to expand swiftly at a CAGR of 11.2% from 2024 to 2034, as revealed in this updated research report by Fact.MR.Increase in the implementation of automation and industry 4.0 technologies is contributing to the growth of the market. This development is part of a larger shift toward smart manufacturing and the optimization of textile production processes.
Automated machinery can function continuously with minimum downtime, resulting in increased output and lower labor expenses. Automated systems can continuously monitor and manage many areas of textile production, resulting in improved quality and uniformity in the finished product. This is especially crucial in areas such as fashion and automotive fabrics, where quality demands are high. Textile producers can efficiently adapt to unique customer requirements thanks to Industry 4.0 technology, which enables mass customization. This is critical in an era when customers are increasingly seeking tailored products.
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Plasma treatment is becoming incredibly popular in the textile industry. Plasma treatment of textiles to increase performance is expected to benefit several industries such as the military, healthcare, leisure, and athletics. Since the plasma method produces no waste or dangerous by-products, plasma textile modification saves a lot of water, electricity, and chemicals.
Key Takeaways from Market Study
The global market for textile machinery is calculated to reach a size of US$ 4.24 billion by 2034. The East Asia market is projected to expand at 11.2% CAGR from 2024 to 2034. South Asia & Pacific is forecasted to account for 22.9% market share by 2034.
Spinning textile machines are poised to occupy 41.2% market share in 2024. The market in Japan is projected to reach a valuation of US$ 475.3 million by 2034-end. The direct distribution channel is forecasted to account for 54.9% market share by 2034. The market in India is forecasted to expand at a CAGR of 11.3% CAGR through 2034.
“Integration of automation, robots, and data-driven technology into textile production is enabling smart manufacturing, enhancing efficiency and productivity. This is driving textile machinery market growth,” says a Fact.MR analyst.
The report studies leading textile machinery manufacturers such as A.T.E. Enterprises Private Limited, Savio Macchine Tessili S.p.A, Murata Machinery Ltd, Mayer & Cie GmbH & Co. KG, and Batliboi Ltd.
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Country-wise Analysis
East Asia projects to dominate the global textile machinery market, with Fact.MR predicting it will hold a staggering 52.8% share by 2034. This dominance is partly due to textile machinery manufacturers strategically expanding their presence in Southeast Asia, Central and South America, and Australia. This diversification of the supply chain reduces reliance on any single source, making it more resilient.
The outlook for Japan's textile machinery market is particularly bright. Government support through favorable policies and subsidies, coupled with advancements in technology, are fueling growth. Manufacturers are focusing on innovative, high-quality, and exclusive textiles.The rising advancements like 3D printing, smart textiles, and nanotechnology that enhance features like wrinkle resistance and breathability are propelling the market forward.
A rise in do-it-yourself (DIY) and woodworking activities is observed due to a lack of readily available skilled workers and increasing costs of finished products. This trend extends to furniture, interior design elements, and general home improvement projects, driven by the economic advantages of DIY. By taking on these tasks themselves, individuals can reduce labor costs and allocate those savings towards higher-quality materials for their projects.
Competitive Landscape
In 2022, Yamuna Machine Works introduced three new cutting-edge knitting machines for Indian customers. In 2022, Neuenhauser Group purchased Ontec's textile machinery section with the goal of expanding its textile machinery range.
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