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.
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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.
Market Segmentation
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.
Regional Insight
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.
Top Players
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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Spinning is one of the significant segments of the textile industry, and the machinery designed for the spinning process helps spin fibers into workable yarn or thread.
Spinning machinery is used for manufacturing clothing or textile that have various industrial applications.
The rise in the demand and sale of garments, increasing adoption of automation system for spinning machinery, and growing focus on enhancing the safety and efficiency of the spinning machinery are factors that are set to drive the growth of the market.Strict industry regulations, lack of skilled professionals, and the high initial prices and maintenance costs associated with spinning machinery is expected to hamper the market growth during the forecast period.
However, the growing use of loT for monitoring machine condition, technological advancement in spinning machinery, changing fashion trends, and developing economies in emerging countries create ample opportunities for the expansion and growth of this market.Market Research AnalysisIn terms of region, the global market for spinning machinery is segmented into– North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to hold the largest share in the global Cotton-spinning machinery market throughout the forecast period owing to the increase in foreign investments in manufacturing plants and growing home and automobile textile market are expected to increase the demand and sale of spinning machinery.Moreover, the presence of emerging economies, such as China and India, is also contributing to the market growth in the region.
The growing demand for sophisticated machines that produce high-quality cloth with fewer knots and developing product service industry in the US and Canada are expected to support the growth of the market during the forecast period.The Cotton-spinning machinery market in Europe is expected to witness significant growth due to the presence of many developed nations and their willingness to adopt new technologies.
The statistical surveying report on the global Spinning Machinery Market has been presented by using professional or expert knowledge through standard and modified research approaches and forecasts.
The yearly forecast and predication for the years 2020 to 2025 have been enclosed by the report along with comprehensive analysis for all market segments and regions.
The statistical data derived from authentic resources and assisted by industry experts.
It likewise assesses the market by evaluating market elements, including drivers, restraints, opportunities, threats, challenges, growth prospects, and other market elements.
The global spinning machinery market report presents a complete research-based study of the industry including details such as company shares, forecast data, in-depth analysis and an outlook of the market on a worldwide platform.
This spinning machinery market report also splits the market by regions: Americas (United States, Canada, Mexico, Brazil), APAC (China, Japan, Korea, Southeast Asia, India, Australia), Europe (Germany, France, UK, Italy, Russia, Spain), Middle East & Africa (Egypt, South Africa, Israel, Turkey, GCC Countries).
