Market Research Future added New Report Named "Global Spinning Machinery Market Research Report- Forecast 2025" to its Database.
Online PR News – 09-April-2020 – Pune – The global market for spinning machinery 2020 is most likely to achieve a decent growth rate of 5.5% over the forecast period, which is from 2019 to 2025, says Market Research Future (MRFR).
Growth Drivers and Top Challenges
A chief growth-boosting factor in the spinning machinery market includes the important role played by the fashion industry in the overall gross domestic product (GDP). The boom in the technical textiles industry around the world, including automotive textiles as well as geotextiles that generates strong demand for top quality industrial yarns, also benefits the market. With the rising sales of spinning machines, the market is expected to burgeon significantly over the coming years.
The industry is, however, facing issues in the form of less number of new vendors that are involved in the manufacturing of yarn. The new sales on a yearly basis are in response to either the advancements in plant capacity or the replacement of the older machines. Based on this, the buyers in the spinning machinery market have higher bargaining power. However, since the yarn industry demands mass production of a variety of yarns, many of the spinning machinery manufacturers are consistently working on innovations in order to cater to customers across the world.
A trend prevailing in the spinning machinery market is the move towards automation in almost every spinning machinery line. Also, a large number of yarn manufacturing companies around the globe are opting for Spain-based brands for spinning machinery. Besides, the government across various regions is implementing numerous initiatives to build more textile parks in emerging countries like India and China, which boast of massive supply of raw materials as well as inexpensive labor.
The global market for spinning machinery has been extensively covered in the report, with regard to type, material, and end-use industry.
The type-wise market segments are rotor, ring, and others. The ring-type of spinning machinery is the leading segment in the global market, with respect to value.
The materials analyzed in the report are synthetic, natural, and others. The synthetic fibers segment is most likely to take the lead in the global market during the assessment period.
The significant end-use industries discussed in the report are textile, clothing, and others. The textile segment can attain the top position in the market, on account of the rising number of initiatives undertaken by the government to set up textile industries across the globe.
The global spinning machinery market is majorly concentrated in the primary regions of North America, Asia Pacific (APAC), Europe, and the rest of the world (RoW).
During the forecast period, the APAC market can gain the highest prominence, thanks to the high concentration of renowned wool and yarn spinning machinery manufacturers in the region. In addition, the rising installation of spinning machinery in emerging countries like India, Bangladesh, China, Japan, and Vietnam can enhance market growth in the region. India is poised to achieve the highest growth rate in the region, owing to the surging number of government initiatives that are advertising India as an attractive hub for manufacturing in the world.
The market in Europe can witness considerable growth, on account of the strict government standards as well as the accelerated demand for spinning mills machinery in Germany, Russia, France, and Spain. Most of the well-known companies in the region are highly focused on expanding their market shares by reaching across various geographies. With the increased realization of the high demand for textiles along with the availability of low-cost labor, many of the established vendors are striving to elevate their footprint by adopting marketing hacks like product innovation, agreements, collaborations and mergers and acquisitions, among others. Switzerland boasts of an expansive industry of finely engineered textile spinning machines, a factor deemed to benefit the overall regional market during the evaluation timeframe.
Saurer AG (Switzerland), Rieter (Switzerland), Lakshmi Machine Works Limited (India), Murata Machinery USA, Inc. (US) are the top players active in the spinning machinery market.
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