May 11, 2021   SOURCE: BusinessWire

Global Textile Machinery Market Trajectory & Analytics Report2021: Hit by Reduced Spending, Textile Industry Nose-Dives - ResearchAndMarkets.com

The "Textile Machinery - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Consumers Turn Pessimistic Amid the Pandemic. Hit by Reduced Spending, Textile Industry Nose-Dives

Experiencing the knock-on effects from the beleaguered textile industry, global market for Textile Machinery is expected to slump by -30% in the year 2020 and thereafter recover to reach 10.9 million units by the year 2027 trailing a post COVID-19 CAGR of 9.1% over the analysis period 2020 to 2027.

COVID-19 has come down hard on the textile & fashion industry. Between 1Q and 2Q, the industry moved swiftly from shortage of raw material supply to order cancellations. Retail sales of apparel & home furnishings worldwide are continuing to plummet in response to cutback son consumer spending as a result of rising unemployment & shrinking disposable incomes.

A part of the industrial machine tools market, textile machinery will feel the pain of declining manufacturing activity. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions. An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low in 2020 as compared to the 53.8 in 2019.

With roots in China, the world's supply chains are facing unprecedented disruption and shutdown. Interwoven with a demand crisis, the supply chain shocks are exerting a compounded blow to manufacturing companies worldwide. A combination of all the aforementioned macro-economic issues alongside more specific factors such as suspension of the transportation and changes in demand patterns have dealt a debilitating blow to the manufacturing industry.

In the post COVID-19 period, growth will be led by the re-emergence of China as a key market. China represents the largest market for textile machinery. Once being a major importer of textile machinery, China transformed into a global hub for manufacturing of textile machinery and swiftly became a major exporter of world-class textile machinery to all parts of the world.

China has remained the largest investor in textile machinery such as spinning, weaving, and knitting machinery over the recent past. Favorable government support in terms of recent initiatives such as 'Made in China 2025' and 13th five year plan for the textile industry with focus on automation and value-added manufacturing has pumped significant investments into upstream textile plants. Textile machinery manufacturers in China have and will continue to invest heavily to address the increasing apparel demand from both Chinese and foreign customers.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Textile Industry Remains Hard Hit
  • COVID-19 Inflicts Considerable Damage on Global Textile Machinery Industry
  • Global Economy Stares at an Impending Crisis
  • Textile Machinery: An Introduction
  • Types of Textile Machinery
  • Spinning Machinery
  • Draw Texturing Machines
  • Weaving Machinery
  • Fabric Knitting Machinery
  • Textile Finishing Machinery
  • Outlook
  • Regional Landscape
  • Asian Countries Continue to Drive Future Market Growth
  • China: The Frontrunner in the Textile Machinery Market
  • World Textile Machinery Shipments
  • Spinning Machinery
  • Draw Texturing Machinery
  • Knitting Machinery
  • Weaving Machines
  • Overview of Textile Industry
  • Recent Market Activity
  • World Brands

2. FOCUS ON SELECT PLAYERS (Total 193 Featured):

  • A.T.E. Enterprises Private Limited
  • Batliboi Ltd.
  • Benninger AG
  • Itema S.p.A.
  • Kirloskar Toyoda Textile Machinery Pvt. Ltd.
  • Lakshmi Machine Works Ltd.
  • Mayer & Cie GmbH & Co. KG
  • Murata Machinery Ltd.
  • Navis TubeTex
  • OC Oerlikon Management AG
  • Picanol Group
  • Rieter AG
  • Santoni S.p.A.
  • Saurer AG
  • Savio Macchine Tessili S.p.A.
  • TMT Machinery Inc.
  • Toyota Industries Corporation
  • Trutzschler GmbH & Co. KG
  • Veejay Lakshmi Engineering Works Ltd.

3. MARKET TRENDS & DRIVERS

  • Industry 4.0 Set to Reboot & Intensify Digitalization to Benefit Textile Machinery Industry
  • Industry 4.0 Brings together Connectivity, Flexible Automation & Intelligence
  • Artificial Intelligence to Bring Improved Quality Control in Textiles & Apparel Sector
  • Advancements in the Weaving Machinery Market
  • Sustainability Gains Prominence
  • 3D Weaving Machines Becoming the Mainstay
  • Fashion Conscious Women Bodes Well for Textile Machinery Market
  • Increasing Demand for Technical Textiles Lends Traction to Market Growth
  • Circular Knitting Machines: An Overview
  • Macro Factors Driving the World Textiles Sector Generate Parallel Opportunities for Textiles Machinery
  • Expanding Clothing & Textile Needs of Ballooning World Population
  • Rapid Pace of Urbanization
  • Rising Affluence of Middle Class Consumer Segment
  • Technology Advancements Open New Growth Avenues
  • Select Recent Product Developments/Innovations
  • TRADE STATISTICS

4. GLOBAL MARKET PERSPECTIVE

  • World 15-Year Perspective for Spinning Machines by Geographic Region - Percentage Breakdown of Volume Sales for USA, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Draw Texturizing Machines by Geographic Region - Percentage Breakdown of Volume Sales for USA, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Knitting Machines by Geographic Region - Percentage Breakdown of Volume Sales for USA, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2012, 2020 & 2027
  • World 15-Year Perspective for Other Machine Types by Geographic Region - Percentage Breakdown of Volume Sales for USA, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2012, 2020 & 2027

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 193

For more information about this report visit https://www.researchandmarkets.com/r/b1u4uc