In the changed business landscape following the COVID-19 pandemic, the worldwide Textile Machinery market, which was estimated to be 7.2 million units in 2022, is expected to expand significantly and reach a new size of 15 million units by 2030. This growth is projected to occur at a compound annual growth rate (CAGR) of 9.7 per cent during the analysis period of 2022 to 2030.
Within the report’s analysis, the Spinning Machines segment is expected to experience a compound annual growth rate (CAGR) of 7.7 per cent and reach a total of 11.3 million units by the conclusion of the analysis period.
Considering the ongoing recovery from the pandemic, the growth forecast for the Draw Texturizing Machines segment has been revised to an adjusted CAGR of 18.6 per cent over the next eight years.
The market size in the United States is estimated to be around 41.2 thousand units, whereas China is expected to witness growth at a compound annual growth rate (CAGR) of 9.7 per cent.
The Textile Machinery market in the United States is estimated at 41.2 thousand units in 2022, while China is projected to reach a market size of 8.2 million units by 2030, growing at a CAGR of 9.7 per cent from 2022 to 2030.
Other significant geographical markets include Japan and Europe, which are expected to grow at rates of approximately 6.4 per cent and 8.6 per cent respectively over the period from 2022 to 2030. Among European countries, Germany is forecasted to experience a CAGR of approximately 6.6 per cent.
