The global
textile machinery market is projected to reach USD 5,244 thousand by 2022, according to a recent report by Technavio. Factors fueling the growth of this sector include the growth in government budgets, an increase in textile field expenditure, retrofitting and renovation of old technology, and a rise in the adoption of textile machinery in developing countries.
One of the key trends in this sector is automation and it plays a crucial role in enhancing quality and cost-competitiveness. Textile machines are used in various processes that include the fabrications and processing of fabrics, textiles, and other woven and non-woven materials. Automated textile machinery not only increases
textile production but also increases the flow rate of fabric, which results in lean manufacturing.
Furthermore, automation plays a vital role in various product manufacturing such as fiber manufacturing, yarn manufacturing, weaving, and finishing processes.
According to reports, there is a huge opportunity for technological progress for textile machinery in the regions of Germany,
Italy, Japan, and China and this is anticipated to fuel the market for more advanced textile machinery.
The textile and fashion industries contribute a significant part to global business. The increase in demand for apparel in developing countries is the major factors fuelling the growth of the textile manufacturing industry. Other factors include the increase in disposable income and rapid urbanization that has resulted in a rise in the number of supermarkets and retail stores, which has resulted in the overall market growth.
One of the largest consumers of water is the textile manufacturing industry. The most crucial phase in textile manufacturing is the Textile wet processing (TWP) and this process consumes a huge amount of water. It comprises various processes such as sizing, scouring, bleaching, dyeing, printing, etc. to impart aesthetics and functional appeal on the textile fabric products. Hence, the textile industry is not only considered to be one of the most polluting industries, but also a threat to sustainability. Therefore, many researchers and textile manufacturing companies are coming up with different approaches to transforming this polluting industry into a sustainable industry.
Demand for machinery driven by the investment by large mills
The organized mill sector is in India is growing at a rapid pace and a large part of this additional demand for machinery will be driven by the investment by organized/large mills, owing to the surge in the scale of textile and apparel manufacturing in the country.
The Ministry of Textiles offers multiple schemes for different segments of the textile sector. The government is focusing on using finance to generate attributes of productivity, efficiency, exportability, scalability, and marketability of the textile products in India in the various scheme such as the Technology Upgradation Fund Scheme, the Powertex scheme for power looms, the Scheme for Integrated Textile Park (SITP).
