The global market for spinning machines is projected to grow at a CAGR of 5.5 per cent to reach $7.3 billion by 2027 says a ResearchAndMarkets.com study. One of its segments Ring Spinning is projected to record a 5.6 per cent CAGR and reach $3.1 billion by the end of the analysis period while the Rotor Spinning segment is projected to grow at 5.8 per cent CAGR for the next seven years.

China, the world's second largest economy, is forecast to grow at 8.4 per cent CAGR to reach a projected market size of $ 1.5 billion by 2027. Other noteworthy geographic markets such as Japan and Canada are forecast to grow at 3 per cent and 5 per cent respectively from 2020 to 2027. Within Europe, Germany is forecast to grow at approximately 3.5 per cent CAGR.

In the global Other Types segment, the US, Canada, Japan, China and Europe will drive the 4.4 per cent CAGR estimated for this segment. These regional markets will reach a projected size of $1 billion by the end of 2027. China will remain among the fastest growing in this cluster of regional markets.

Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $976 million by 2027, while Latin America will expand at a 5.9 per cent CAGR through the analysis period.