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Textile machinery demand grows following new fashion trends

The changing fashion trends create uninterrupted demand for new textiles, which generates demand for textile machinery and has a special impact on the fabric. At the same time, the process of increasing the strength and shaking of cotton increases the demand for machines like mercerizing.

According to a new report by Global Industry Analysts Inc, the global market for knitting machines by 3D knitting technology is expected to show a compound annual growth of 27.4 percent by 2026. Which will be driven by the growing demand for advanced, automation and the capability of artificial intelligence.

The report said, the market is projected to reach 58.9 thousand units in 2020, which is expected to reach 260.7 thousand units by 2026.

textile-machinery-demand grow
Figure: Fashion trend generates demand for textile machinery and has a special impact on the fabric.

At the same time, China has formed the largest regional market for sewing machine sales. Where global sales were 80.4 percent in 2020, and the fastest compound annual growth rate in the world during the analysis period will be recorded at 28.8 percent, reaching 2,7 thousand units by the close of the analysis period.

In the Covid-19 crisis, the global textile machinery market was estimated at 5.9 million units in 2020. Which will reach 10.1 million units by 2026 and will show a CAGR above 9.1 percent. One of the segments analyzed in the report is the spinning machine which is expected to record a CAGR of to 7.6 percent to reach a market of about 8.8 million units at the end of use. Following the epidemic and its induced economic crisis, growth in the draw texturized machine segment is likely expand to a CAGR of 18.6 percent for the next 7-year.

In terms of specific regions, the textile machinery market in the US is estimated at 39.1 thousand units in the year 2021. Asia-Pacific is forecast to reach a projected market size of 3.8 million units by the year 2026 trailing a CAGR of 9.4 percent over the analysis period.

Also, Japan, China, and Europe, each forecast to grow at a CAGR of 6.6, 9 and 8 percent respectively over the analysis period.

Basically, the continuous automation of machinery increases the main ongoing trend in the market.

On the other hand, the adoption of robots enabled manufacturers to accelerate the production cycle, reduce labor costs, drive safety, improve quality, and achieve significant gains in terms of efficiency and productivity.

Also, artificial intelligence has a special significance in helping to achieve high efficiency, accuracy, and consistency of textile production systems and equipment.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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