Textile Processing Machinery Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Textile Processing Machinery Market is segmented By Process (Washing Machine, Bleaching, Drying Machines, Ironing Machines & Presses, Others), By Mate....
Textile Processing Machinery Market Size
Market Size in USD
CAGR7.1%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 7.1% |
| Market Concentration | Medium |
| Major Players | Rieter Holding AG, Lakshmi Machine Works Ltd., Saurer Intelligent Technology AG, TMT Machinery Inc., Trutzschler Group |
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Textile Processing Machinery Market Analysis
The Global Textile Processing Machinery Market is estimated to be valued at USD 29.5 Bn in 2024 and is expected to reach USD 50.9 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031. The rising population, increasing disposable incomes, and changing lifestyles and fashion trends in developing economies are driving higher demand for textiles. This is propelling the need for advanced textile processing machinery to cater to this growing demand.
The market is witnessing positive trends with growing investments in machinery upgrades by textile companies to boost processing efficiency and meet international quality standards. Adoption of novel technologies like automation, artificial intelligence and internet of things solutions in textile machinery is gaining traction. This is expected to significantly improve productivity and quality of processed textiles.