Market Size of Global Spinning Machinery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spinning Machinery Market Analysis
The Global Spinning Machinery Market is expected to grow at a CAGR of 4.6% over the forecast period of 2022-2027.
The COVID-19 outbreak has compelled government officials to take drastic measures. To prevent the virus from spreading, several emerging and developed countries imposed partial or total lockdowns. Under the lockdown, the manufacture of spinning machinery and the provision of related services were limited to permissible limits.
Spinning machinery is intended to produce yarn from textile fibers, comprising natural, synthetic, or blended fibers. These machines were manufactured during the Industrial Revolution in order to mass-produce cotton textile products. Presently, the spinning machinery setup involves considerable capital investment along with prominent infrastructure, as it includes installing a line of machines with an intention to carry out a series of functions from fiber stage to yarn stage.
Major production centers of cotton yarn manufacturing are concentrated in China, India, the U.S., Pakistan, Indonesia, Brazil, Turkey, South Korea, Italy, Egypt, and Japan. Accordingly, the top spinning machinery suppliers focus on catering to these regions.
A macro-level factor driving factor in the spinning machinery market is the rising contribution of the fashion industry to the overall GDP. Another factor driving the technical textiles industry across the globe such as automotive textiles and geotextiles, which demand high-end performance from industrial yarns.
A prominent issue facing the industry is that very few new players are involved in manufacturing yarn. New sales that account on the yearly basis are the result of the expansion of plant capacity or replacements of older machines. Accordingly, the buyers of spinning machinery have higher bargaining power.
However, the yarn industry still requires mass production of different types of yarns, and accordingly, manufacturers of spinning machinery are consistently working on innovations in order to cater to customers with better productivity.
