Textile Machinery Market

Preliminary research of Fairfield Market Research indicates a promising growth outlook for global textile machinery market during the course of next few years.

Market Analysis in Brief

Leaders in textile technology and machinery worldwide predicted the sector will resurge with the organization of numerous international exhibitions, and that the increasing momentum and production-oriented developments that began in 2021 continued in the year 2022. The textile machinery market remains on a uptrend. One of the primary reasons promoting the growth of textile machinery industry is the garment industry's rapid expansion, accompanied by the abundant supply of raw materials like cotton, and jute. The textile machinery industry has rebound and progressed remarkably after the pandemic situation that cast a lasting, profound impact on the industry’s dynamics. Growth will most likely be stellar across Asian markets, suggests research. 

Key Report Findings

• The growth of apparel and fashion industry elevates textile machinery market growth prospects
• Surge in popularity of smart textiles, and the thriving trend wave of textile recycling will favor market expansion
• Around 11% of global textile machinery exports are made in Italy
• The market in Asia Pacific anticipates the fastest growth in near term

Growth Drivers

Phenomenal Growth Post-pandemic

The COVID-19 pandemic that commenced at the beginning of 2020, has impacted the textile sector's whole supply chain, including textile machinery market. All industry participants, including textile machinery producers, have encountered numerous challenges as a result. Although the circumstances resulted in issues such as a shortage of raw materials, price rises, and supply chain interruptions, the unmet demand during this period led to an increase and recovery in orders in 2021. The pandemic's significant and profound changes in daily life have also brought sustainability, circular production, and digitalization to the forefront of manufacturers' investments and business decisions.

The Rise of Smart Textiles, and Textile Recycling

The growing fast-fashion trend is boosting the demand for textile machinery to create modern clothing with cutting-edge fabrics, patterns, styles, colors, and designs. Additionally, this can be attributed to rapid urbanization, rising disposable incomes, expanding social media influence, and the growing adoption of high-end clothing. In addition, the growing need for textile recycling brought on by growing environmental concerns and the growing awareness of the negative effects of garbage incineration is fostering the expansion of textile machinery market.

Additionally, the textile machinery market is expected to grow as smart textiles embedded with electronic components, conductive threads, and advanced technologies are used in various end-use sectors. Other than that, major manufacturers are introducing medical and biomedical textile machines that offer flexible and adaptable assistance to fulfill customer requirements. The expanding use of medical textiles for first aid, clinical, surgical, and hygienic purposes and the increasing prevalence of chronic diseases are expected to fuel market expansion.

COVID-19 Impact

Due to the limitations on manufacturing, this market is anticipated to suffer during the COVID-19 pandemic. The alarming increase in COVID-19 patients prompted the implementation of strict lockdown standards. This reason caused supply chain interruptions. Transport limitations also caused a need for more raw materials. Firms use automated production methods, shortened shifts, and lower capacity to balance their expenses. During the epidemic, this aspect can boost the market. Furthermore, According to projections, the textile machinery market will be significantly affected by the coronavirus pandemic.

The suspension of various manufacturing activities worldwide and the numerous lockdowns and travel restrictions are largely to blame for the lack of raw materials. Due to this, market growth over the anticipated timeframe has been significantly impacted. Due to the closure, the manufacturing of textile machines and the delivery of associated services were constrained to acceptable levels, which resulted in a decline in market size and market share for the textile machinery industry.

Online and retail enterprises were temporarily shut down. These issues, which have significantly harmed the global economy, have had a detrimental impact on the industrial automation and equipment industry. The prohibition on producing textile machines led to a considerable mismatch in supply and demand. The COVID-19 epidemic has impacted the supply chains of various textile machinery manufacturers. Additionally, many companies experienced cash flow problems, which could force them to halt all production. In light of this, COVID-19 is expected to substantially impact the textile machinery market.

Growth in Order Intake Across Italy

Along with Germany, Japan, China, and Switzerland, Italy retain significant positions as the major exporters of textile machines worldwide. Around 11% of global textile machinery exports are made in Italy. Italy is a world leader in the production of textile machinery, claims the Association of Italian Textile Machinery Manufacturers (ACIMIT), thanks to its innovative spirit, environmentally friendly technology, dependability, and high-quality products. Production of textile machines and related components is carried out by over 300 enterprises, with a combined workforce of 12,000 people.

According to the Association of Italian Textile Machinery Manufacturers (ACIMIT), the index of orders received for Italian textile machinery for the fourth quarter of 2021 increased by 43% from the fourth quarter of 2020. The index was worth 127.9 points in absolute terms. Both the Italian and international markets helped to fuel this rise. For the Italian textile machinery market, 2022 was thus a year marked by optimism, and pessimism. The biggest textile machine exposition in the world, pending ITMA 2023, will take place in Milan in June 2023.

Soaring Nonwoven Fabric Consumption

Textile machinery creates and processes textiles, clothing, and other materials. The demand for textile machinery is anticipated to increase as non-woven fabric demand rises. Additionally, increasing expenditures on cotton ginning equipment may accelerate its uptake. Furthermore, it is anticipated that the machine will be adopted more widely due to the fashion industry's rapid development. It is anticipated that adoption will increase as per capita income and development increase. The expansion of the textile machinery market is also anticipated to be fueled by rising knowledge of the adaptability of the equipment.

Growth Challenges

High Maintenance Costs, and Evolving Government Regulations

The biggest obstacles to adopting automated machines are the operating costs for the textile manufacturing industries. Some of these costs could include the price of automating a process's research and development, preventative maintenance, and paying employees to operate automated machines. The textile industry faces major difficulties due to shifting government policies and a lack of systematic financial assistance at the state and federal levels. To compete in the global textile machinery market, the textile industry needs help from the Central and State governments. The tax structure goods and service tax (GST), tariff barriers, and other factors make clothing expensive to trade globally.

Overview of Key Segments

Spinning Machines Dominant with Greater Operational Efficiency

The textile machinery market is segmented into spinning, weaving, knitting, texturing, and others. In terms of share, the segment for textile spinning machines will rule between 2021 and 2026. Due to the high speed it produces and the quality of the yarn, they are widely used. With the aid of this technique, any material may be spun, and structurally stronger yarns, softer fabrics, and yarns are produced. The administrative procedures are likewise quite easy to comprehend and learn. Furthermore, the consistency of the yarn is very effectively maintained since the drawing section's speed can be controlled correctly.

Garments and Apparels Segment Leads

As a result of rising consumer expenditure on clothes and apparel, the garments and apparel application segment dominated the global textile machinery market and generated the largest portion of worldwide revenue in 2021. Further segment expansion will be fueled by rising consumer demand for crease-free suiting, shirting, and high-quality dyed and printed fabrics worldwide. The primary growth-promoting driver for the industry is a rise in demand for formal and casual wear and other fashion items among people of all ages worldwide. Additionally, the population expansion and accelerated urbanization in developing nations like India, Bangladesh, Vietnam, and Brazil are predicted to increase demand for clothing and apparel, which will help the sector grow.

Growth Opportunities Across Regions

Asia Pacific Flourishes with Mounting Apparel and Clothing Sales

Due to a rise in the sales volume of clothing and apparel products, Asia Pacific dominated the market and generated the greatest portion of worldwide income in 2021. Additionally, a sizable number of consumers shopping for apparel and associated accessories on e-commerce platforms in developing nations fosters favorable growth in the regional industry. The textile machinery market in Asia Pacific especially across the nations like India, Bangladesh, and Pakistan, is anticipated to be driven by increased organized retail penetration, attractive demographics, rising disposable income levels, and favorable government policies. For instance, India allows 100% foreign direct investments (FDI) in textiles to promote market expansion.

Key Competitors: Textile Machinery Market

Benninger AG (Jakob Müller AG), A.T.E. Private Limited, Mayer & Cie. GmbH & Co. KG, Camozzi Group SpA., Lakshmi Machine Works Limited, Toyota Industries Corp, Itema SpA, LONATI SPA, Murata Machinery Ltd., OC Oerlikon Corp. AG, Navis TubeTex, and Rieter Holding AG represent the prominent players steering the competition landscape of global textile machinery market space.

Recent Notable Developments in Global Textile Machinery Market

• In January 2021, the Italian company Morgan Tecnica's PLY1 single-ply cutting system (from ATE Group) was made to fulfill the sector's needs. The PLY1 has several cutting heads that can cut hard and soft textile materials. All varieties of textiles, including carpet fabric and even unusual materials with various compositions and dimensions, including thicknesses up to 60 mm, can be handled with great precision and speed by PLY1
  
  
• In April 2021, Ingersoll Machine Tools began constructing the 40,000-square-foot Giant Magellan Telescope extension. An Ingersoll MasterMillTM will be built as part of the construction, resulting in one of the largest milling facilities in the nation and satisfying the U.S. Defense Department's manufacturing needs
  
  
• In April 2022, The 40,000 square foot enlargement for the Giant Magellan Telescope construction was started by Ingersoll Machine Tools. As part of the development, an Ingersoll MasterMillTM will be installed in the new structure, creating one of the biggest milling centers in the country and meeting the manufacturing requirements of the U.S. Defense Department

Regional Classification of Global Textile Machinery Market Can be Given as Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa