Research & Markets has announced the addition of the ‘Global Textile Machinery Market 2014-2018’ report to their offering.
The Global textile machinery market can be divided into four segments: Spinning machinery, Weaving machinery, Texturing machinery, and Knitting machinery. The report, the Global Textile Machinery Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Asia, Europe, and the ROW, it also covers the Global textile machinery market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market. The report claims that Global textile machinery market will grow at a CAGR Of 14.02 percent over the period 2013-2018.
Commenting on the report, an analyst from the team said: 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 machinery has been developed that has a 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.
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.
Despite the presence of several drivers, the growth of the Global Textile Machinery market is curtailed by certain challenges, including high market volatility. Dynamic and unexpected changes in the market pose a huge threat for vendors.