Global Textile Machinery Market to Reach US$20.75 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Textile Machinery market. The worldwide market for textile machinery, following years of favorable investment environment, awakened to one of toughest economic downturns, which impacted the overall rate of growth resulting in heavy market erosion and decline of both imports and exports in 2008-09. However in the long term, driven by demand for nonwoven disposable textile products, particularly from burgeoning Chinese and Indian economies, the global market for textile machinery is projected to reach US$20.75 billion by the year 2015. Further, the increasing leaning towards environmentally friendly fibers is expected to push demand for textile machineries that employ eco-friendly textile processes.

Textile Machinery: A Global Strategic Business Report

Demand for textile machinery is indirectly dependent on the demand in other sectors including housing and automobiles. As textile machinery is used for manufacturing home carpets and upholstery for furniture and automobiles, changing fashion trends affect demand for textile equipment. Production process of textile machinery is cyclical in nature and is dependent on equipment purchases, which slow down during recession and accelerate when the economy is sound. Textile mills tend to invest in the machinery when interest rates prevailing in the market are considerably low. The rapid pace of technological innovations taking place in the textile machinery market resulted in the production of more efficient machines at low prices. Complete automation at a reasonable cost, coupled with flexibility, has become the watchword of the industry. Traditional textile machinery relies on cheap labor and hence even though the textile volumes sold are high, the cloth suffers from poor quality. Demand for sophisticated machines that produce high quality cloth with lesser knots is increasing. Whatever be the technology, the purchasing decision is greatly influenced by the machines’ versatility, flexibility, and selling price.

As textile machinery market is closely influenced by the textile industry, regulations affecting this market have a direct bearing on the textile machinery market. Global textile production and consumption trends have long been subjected to and governed by a set of trade regulations, prominent among them being the Agreement on Textile and Clothing (ATC), formerly known as Multifiber Arrangement (MFA). Despite the MFA quotas completely being phased out, there continue to exist tariffs and preferential agreements, which are expected to influence market fortunes.

The growth of the Asian textile industry would provide the much-needed impetus to the western textile machinery manufacturers for revival of their business. Growing demand for nonwoven disposable textile products such as tissues and filters, particularly from the growing Chinese and Indian economies, would open doors for growth in the textile machinery market The growing demand for environmentally friendly fibers is expected to push demand for textile machineries that employ textile processes that are highly eco-friendly. Textile machinery market in Asia and most of countries in Latin America such as Peru, Colombia and Brazil is forecast to grow at healthy rate in near future as the market in these countries is exhibiting relatively better propensity to recover from the global recession.

The primary textile machinery market worldwide was affected by the global economic crisis, and witnessed severe downturn beginning mid-2007, and carrying on until 2010. The period 2008-2010 recorded the worst declines, with market growth sharply plummeting to huge negative levels in most parts of the world. The year 2009 particularly proved to be the nemesis for the industry, with developed countries recording steep market erosions of 20%-25% for the year. Developing countries fared only marginally better during the year 2009. Despite an increase in demand for premium fabrics globally, the demand for textile machinery used in production of these fabrics did not increase proportionately. The demand for mercerizing machine increased while demand for other textile machinery including textile bleaching, dyeing and washing fell heavily during the period.

The textile machinery market world over is unlikely to recuperate anytime soon, at least through 2010-2011, as the aftereffects of the credit crunch continue, financial markets remain uncertain, and banks demand more guarantees to provide finance - tough conditions for an industry highly dependant on government subsidies. The industry is already struggling to maintain growth, with focus no more on driving increase in demand. Post recession, only those dynamic sectors capable of adapting to changing market scenario are expected to survive.

Asia-Pacific holds sway over the world textile machinery market, dominating as the single largest market, as stated by the new research report on Textile Machinery. Spurred by initiatives of local governments to boost textile machinery trade and bolster sales and investments, particularly in China and India, the Asian region is forecast to emerge as one of the fastest growing markets world over through 2015. By product group, Parts & Accessories rules as the largest market. In terms of growth potential, the Fabric Machinery group, spurred by expansion in segments such as fabric weaving machinery and fabric knitting machinery is slated to increase at a relatively faster pace.

Leading players in the global textile machinery market include American Textile Machinery Association, Batliboi Ltd., Benninger AG, Intertrad Group, Itema Group, Kirloskar Toyoda Textile Machinery Private Ltd., Lakshmi Machine Works Ltd., Lonati S.p.A., Mayer & Cie GmbH & Co. KG, Murata Machinery Ltd., Navis Global, Rieter AG, Santoni S.p.A., Saurer AG, Savio Macchine Tessili S.p.A., Shima Seiki Mfg. Ltd., TMT Machinery, Toyota Industries Corp., Veejay Lakshmi Engineering Works Ltd., West Point Foundry and Machine Co., and Willy Grob AG.

The research report titled "Textile Machinery: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market overview, regulations, product profile, product innovations, technological developments, recent industry activity and profiles of market players worldwide. Analysis and overview is presented for major geographic markets such as US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe), Asia-Pacific (China, Hong Kong, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Market analytics are provided in terms of Value (US$) for product Group/segments including Fiber-fabric Machinery (Cleaning & Opening Machinery, Carding & Combing Machinery, Drawing & Rowing Frames, Spinning & Twisting Frames, Yarn Winding Machines, Yarn Preparing Machines, and Other Fiber-to-Fabric Machines), Fabric Machinery (Fabric Weaving Machinery, Fabric Knitting Machinery, and Other Fabric Machinery), Other Textile Machinery (Bleaching, Mercerizing, & Dyeing Machinery; Textile Printing Machinery; Textile Finishing Machinery; Textile Drying Machinery; and Other Complete Textile Machinery), Parts and Accessories (Turnings & Shapes, For Fiber-Fabric Machinery, For Fabric Machinery, For Other Textile Machinery, and Others).

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Textile_Machinery_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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