LONDON--(BUSINESS WIRE)--The global textile testing equipment market size is projected to grow to USD 102.17 million, at a CAGR of close to 2% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global textile testing equipment market for 2017-2021. The market size is calculated based on the demand for textile testing equipment.
Textile testing is an important part of the textile production, consumption, and distribution. It is performed mainly to determine the properties of a textile material. There is a rise in the demand for technical textiles due to their technical performance and functional properties. The testing of these functional textiles is one of the key driving factors for the market.
Technavio’s research study segments the global textile testing equipment market into the following regions:
APAC: largest textile testing equipment market segment
“APAC is the dominant regional segment of the textile testing equipment market, generating over 88% of the overall revenue. The presence of leading textile manufacturers such as China, India, Bangladesh, and Vietnam is responsible for the impressive growth of this segment,” says Anju Ajaykumar, one of the lead analysts at Technavio for test and measurement research.
China is the leading segment of the region where players are encouraged to expand their businesses through exports, joint ventures, and by setting up manufacturing facilities. The extensive production capabilities, combined with the availability of affordable labor have provided an edge to the country.
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Europe: leading exporter of textile testing equipment
Europe is the leading global exporter of textile testing equipment, especially for the increasingly popular non-woven and textile fabric machinery. Textile manufacturers in countries such as Germany are seeking modern machinery and equipment to deliver superior quality products by ensuring accurate and effective performance. The constant production of high-quality textiles is creating a high demand for European textiles from all over the world, which is driving the growth of the textile testing equipment market segment.
ROW: increasing demand from the Americas and Africa
“ROW is forecast to show moderate growth over the forecast period, with major demand arising from the Americas and Africa. The firm market position of the US in terms of export of fiber, yarns, and fabrics is a key factor to be considered,” says Anju.
The increasing exports of garments, apparels, and raw materials for textile industry in the Americas is driving the demand for textile testing equipment in the region. Meanwhile, government initiatives supporting increased exports of textiles from Africa is driving the growth in the region.
The top vendors in the global textile testing equipment market highlighted in the report are:
- Roaches International
- SDL Atlas
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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