Global Textile Machinery Market to grow at an impressive CAGR of nearly 11% during 2016-2020

MarketResearchReports.Biz has announced addition of new report "Global Textile Machinery Market 2016-2020" to its database.

Outlook of the global textile machinery market

Technavios market research analyst predicts the global textile machinery market to grow at an impressive CAGR of nearly 11% by 2020. The rising demand for non-woven fabrics is the primary growth driver for this market. Non-woven fabrics are a web structure of the individual fibers that are neither woven nor knitted. High-speed and low-cost processes are employed to manufacture these fabrics. The manufacturing process includes web formation, web bonding, and finishing, thereby requiring textile machinery in each step.

The high demand for textiles from automotive and construction sectors is expected to aid the market growth during the forecast period. These technical textiles come with features such as increased conductivity, filtration, flexibility, lightweight, reinforcement, resistance, and strength. The production of these textiles requires precision, compelling OEMs to design machines that are efficient in terms of precision operation and ensure low wastage of textile.

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Product-based segmentation of the textile machinery market


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Technavio market research analysts have estimated the spinning machinery segment to be the largest market segment during the forecast period. Much of this segments growth can be attributed to the expansion of spinning machinery capacities in countries like India and China. Since these companies experience a high demand for cotton exports, the expansion of spinning machinery capacities will help these countries to maintain and meet a sustainable demand for spinning machinery during the forecast period.

Geographical segmentation of the textile machinery market


In this market study, analysts have estimated the Asian region to account for a market share of more than 90% of the total market share by 2020. The prospects for growth in this market are impelled by the domestic demand and exports to countries like the US and Europe. Also, the rise in manufacturing activities and infrastructure development will lead to the substantial growth of this market segment during the predicted period.

Competitive landscape and key vendors

The global textile machinery is a competitive market and is primarily dominated by international players. In this market, the manufacturers are focusing on R&D activities to bring out innovative and efficient machinery, which would help reduce the overall operational cost. Furthermore, established players such as Trutzschler are setting up manufacturing centers in Asian countries due to the rising demand for textiles and the availability of low-cost labor in this region.