One of the major trends in the global textile machinery market is the growing number of technological innovations. For example, knitting machines with reduced environmental impact have been in huge demand in Europe for the past few years. This demand has been driven by the number of environmental pollution control norms implemented in recent years. Also, various machines have been developed with higher output efficiency compared to the older and more traditional machines. The emergence of these innovations is a major trend that could have a positive impact on the market over the next few years.
According to a report by Sandler Research, the global textile machinery market will grow at a CAGR 14.02 per cent over 2013-18. One of the major drivers in this market is the growth in the automotive and residential construction industries as textiles are mainly used in the manufacture of upholstery in homes and vehicles.
It can be divided into four segments: spinning machinery, weaving machinery, texturing machinery, and knitting machinery. The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Asia, Europe, and the ROW; and the global textile machinery market landscape and its growth prospects in the coming years.