Spinning Machinery Market to grow at a CAGR of 5.81% from 2022 to 2027

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31 Jul, 2023, 18:45 ET

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NEW YORK, July 31, 2023 /PRNewswire/ -- The spinning machinery market size is expected to grow by USD 1,811.85 million from 2022 to 2027, progressing at a CAGR of 5.81% as per the latest Technavio market research report. APAC is estimated to contribute 92% to the growth by 2027. This is due to the demand from countries like China, India, and Bangladesh. The steady growth of cotton prices has been beneficial for spinning machinery manufacturers, enabling better production planning and cost estimation. In India, the cost of producing one pound of yarn is below 10 cents, making it a cost-effective option compared to many other countries. Hence, these factors are expected to drive market growth in the region during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

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Spinning Machinery Market: Market Dynamics

Key drivers

Favorable government policies is the key factor driving market growth. The industrial sector is experiencing growth due to favorable government policies, leading to numerous investments and developments. In the textile industry, India has introduced a policy allowing 100% foreign direct investment (FDI) under the automatic route. Companies investing in this sector must inform the Reserve Bank of India within 30 days of remitting the investment. This policy is anticipated to attract significant investments in the textile sector, resulting in increased demand for spinning machinery.

Major Trends

Mergers and acquisitions are the major trends in the market. The market's promising growth potential is motivating vendors to engage in mergers and acquisitions as a strategy to expand their customer base and market presence. To stay competitive, companies in the market are actively pursuing mergers and acquisitions. For example, Rieter acquired three businesses, including the automatic winding machine business, from Saurer in April 2022. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

High cotton prices affecting the spinning industry is a significant challenge restricting market growth. Cotton plays a key role as a primary raw material in the textile industry. The increasing prices of cotton have a significant impact on the entire textile sector. China and India hold dominant positions as leading producers and suppliers of cotton. As the demand for cotton surpasses its supply, cotton prices have been on the rise, resulting in a decrease in exports and subsequently affecting the demand for textile machinery in apparel manufacturing. Hence, these factors are expected to restrict market growth during the forecast period.

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Some of the key Spinning Machinery Market Players:

The spinning machinery market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some of the vendors are mentioned below:

Amarnaathh Engineering, ATE Pvt. Ltd., Camozzi Group SpA, JINGWEI Textile Machinery Co. Ltd., Jutex Industries Pvt. Ltd., JWELL Intelligent Machinery Co. Ltd., Lakshmi Machine Works Ltd., Murata Machinery Ltd., Naugra Machines India, Perfect Equipments Pvt. Ltd., Prism Machinery Ltd., Rieter Holding AG, SAURER AG, Shandong Rifa Textile Machinery Co. Ltd., SSB Tex Engineering, Tata Sons Pvt. Ltd., Toyota Industries Corp., Trutzschler Group SE, VANDEWIELE NV, and Zhejiang Taitan Co. Ltd.

Spinning Machinery Market: Segmentation Analysis

This market research report segments the spinning machinery market by application (textiles, clothing, and others), product (short-staple spindles, long-staple spindles, and open-end rotors), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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Vendor Landscape

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Spinning Machinery Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.81%

Market growth 2023-2027

USD 1811.85 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.34

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 92%

Key countries

China, India, Japan, Vietnam, and Indonesia

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Technavio

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Contacts

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