Global Textile Machinery Market Size

Textile Machinery Market Analysis

The Global Textile Machinery Market size is estimated at USD 31.67 billion in 2024, and is expected to reach USD 40.18 billion by 2029, growing at a CAGR of 4.87% during the forecast period (2024-2029).

• The increased need for sophisticated equipment that generates high-quality fabric as well as advancements in printing technology in textile production are driving market expansion. The increased use of automation and robots in textile manufacturing is also boosting the textile machinery industry.
• Machine makers now provide complex machines with increased production capacity and speed, as well as textile machinery, at cheap costs. Several small-scale market participants also help to make the machinery sector more competitive, and multinational firms have entered the global market, raising competition and forcing enterprises to improve their innovation and productivity. Because of constant technical improvements, the textile machinery industry is particularly dynamic, shifting from traditional to more complex solutions.
• While the COVID-19 situation brought problems such as shortages of raw materials, price increases, and disruptions in the supply chain, the pent-up demand during this period resulted in an increase and recovery in orders in 2021. The important and major changes created by the pandemic in daily life have also brought concepts such as sustainability, circular production, and digitalization into the focus of stakeholders investments and decisions. The world's leading textile machinery and technology manufacturers anticipate that the increasing momentum and sustainable production-oriented developments that began in 2022 will continue in 2023 and that the sector will revive with the organization of numerous international exhibitions.