Economic Recovery to Rekindle Sales in the Global Textile Machinery Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the ‘Textile Machinery’ market. The global market for textile machinery is projected to reach US$22.9 billion by the year 2017. Major factors driving growth in the textile machinery market include economic recovery post recession, rising demand for nonwoven disposable textile products, increasing demand from emerging regions, especially Asia-Pacific, and rising demand for environmentally friendly fibers.

Textile Machinery: A Global Strategic Business Report

Follow us on LinkedIn – Textile machinery refers to machinery used in the production processes of yarn, thread, cloth fabric and the finishing processes involved in developing fabrics. New equipment purchases remain the key growth driver to the market, which in turn is dependent upon the economic cycles. The market continues to witness a shift from conventional machinery that requires availability of cheap labor to more sophisticated machinery that enables quality enhancements to the final product. Price, flexibility and versatility comprise the determining factors for new equipment purchases. As such, the market is witnessing emergence of more efficient machines, at competitive prices, thanks to rapid technological advances in the textile machinery industry. End-users are increasingly seeking complete automation solutions with enhanced flexibility that can be availed at reasonable costs. As the textile machinery is used for manufacturing home carpets and upholstery for furniture and automobiles, changing fashion trends in these markets, affect demand for textile equipment.

Following a period of favorable conditions for investment, the textile industry awakened to one of toughest economic downturns in 2008, which impacted the overall rate of growth resulting in decline of both imports and exports of textile machinery. The challenging market conditions led to production cutbacks, workforce downsizing, and postponement of proposed investments. All major textile machinery exporting countries, including Germany, Italy, Japan, China and Switzerland, experienced export declines. Though there was an increase in demand for premium fabrics globally, demand for textile machinery used in production of these fabrics did not increase proportionately. The industry witnessed a strong resurgence in demand in 2010 that cooled off eventually by mid 2011 following the disruption in economic growth as fallout of the sovereign debt crisis in Europe. Demand in the EU continues to remain weak as the economic uncertainty continues to hinder investments in the textile industry sector. Further, spinning mills continue to face margin pressures due to volatility in prices of cotton and yarn. Against the backdrop of frail domestic demand, European companies are expected to seek opportunities in major foreign markets including Turkey, China, India, Brazil, and the US.

Asia-Pacific represents the largest and the fastest growing regional market for Textile Machinery worldwide, as stated by the new market research report on Textile Machinery. Growth in the market is projected to driven by Fabric Machinery segment through the analysis period. Investment in textile production witnessed a spurt in Asia, particularly in China, India and Pakistan, following the shift in manufacturing operations of US and European companies to these locations to accrue cost benefits. Rapid industrialization and subsequent economic development in China over the last decade has contributed to a significant rise in Asian textile production. Government initiatives such as China’s 12th Five-Year Plan (2011-2015) which prioritizes technological advancement and improvement in craftsmanship and equipment on par with the international levels for textile and other industry sectors is expected to steer significant growth in the Asian market. China and India are poised to claim the largest gains in clothing output and exports in the immediate future. The gains could also be at the expense of other lower income cloth exporting regions such as Mexico, Bangladesh, and Mauritius. While production of clothing in the US and EU is slated to decline, it would not be completely stopped. Market majors in these regions are adopting ‘lean retailing’ practices such as elimination of warehousing and inventory overheads through pre-planned management of deliveries from manufacturers. Development of EDI has enabled enhanced production and shipment schedules with producers. Manufacturers near to the retail distribution centers are increasingly being given the preferred supplier status as it cuts down the delivery time significantly. China is poised to bank on this trend thanks to its extension of EDI to include overseas players. In the Fiber-Fabric Machinery product category, Spinning & Twisting Frames segment is expected to report the fastest growth.

Major players profiled in the report include Benninger AG, Itema Group, Lonati S.p.A., Mayer & Cie GmbH & Co. KG, Murata Machinery Ltd., Rieter AG, Saurer AG, Savio Macchine Tessili S.p.A., Toyota Industries Corporation and Willy Grob AG among others.

The research report titled “Textile Machinery: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides comprehensive market overview, trends & issues, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for the years 2009 through 2017, for major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. The study also provides historic data for an insight into market evolution over the period 2003 through 2008. Major product segments analyzed in the report include 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), and Parts & 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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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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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