The anticipated growth of the spinning machinery market is projected to reach USD 1.81 billion from 2022 to 2027. Nevertheless, the market is expected to see a steady development trajectory with a compound annual growth rate (CAGR) of 5.81% over the projected period.
India has implemented a strategy in the textile sector that permits 100% foreign direct investment (FDI) via the automatic route. Companies operating within this industry must notify the Reserve Bank of India within 30 days after the remittance of their investment. This strategy is expected to generate substantial investments in the textile industry, leading to a rise in the demand for spinning machines.
The market exhibits segmentation based on three key factors: application, product, and geography. In terms of application, the market is split into textiles, clothing, and other related sectors. The product segmentation encompasses short-staple spindles, long-staple spindles, and open-end rotors. Lastly, the market is geographically classified into APAC, North America, Europe, South America, the Middle East, and Africa.
The study identifies many prominent participants in the spinning machinery market, including JINGWEI Textile Machinery Co. Ltd., Amarnaathh Engineering, Camozzi Group SpA, Jutex Industries Pvt. Ltd., ATE Pvt. Ltd., JWELL Intelligent Machinery Co. Ltd., and Lakshmi Machine Works Ltd. During the projected timeframe, the textiles sector will significantly influence the expansion of the market.
