Textile Weaving And Knitting Machinery Market

The global market for machines in the textile industry is poised for growth over the next eight years, with India leading in consumption and imports, while China dominates in production and exports. The market is forecasted to see incremental increases in volume and value, with steady growth in consumption and production. Weaving machines and knitting machines are the key types of machines in the industry, comprising the majority of global exports. Import prices and export prices for these machines have shown fluctuations over the years, with significant differences among the major exporting countries in terms of pricing.

Market Forecast

Driven by increasing demand for machines for preparing, weaving and knitting textiles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.1% for the period from 2022 to 2030, which is projected to bring the market volume to 5M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market value to $38B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machines For Preparing, Weaving And Knitting Textiles

For the sixth year in a row, the global market recorded growth in consumption of machines for preparing, weaving and knitting textiles, which increased by 12% to 5M units in 2022. Overall, consumption saw a remarkable increase. Over the period under review, global consumption hit record highs in 2022 and is expected to retain growth in the immediate term.

The size of the market for machines for preparing, weaving and knitting textiles worldwide rose rapidly to $33.3B in 2022, with an increase of 10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a strong expansion. Global consumption peaked in 2022 and is likely to see steady growth in the near future.

Consumption By Country

The country with the largest volume of textile weaving and knitting machinery consumption was India (2.1M units), accounting for 42% of total volume. Moreover, textile weaving and knitting machinery consumption in India exceeded the figures recorded by the second-largest consumer, Canada (1M units), twofold. The third position in this ranking was held by China (293K units), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in India amounted to +41.0%. In the other countries, the average annual rates were as follows: Canada (+16.6% per year) and China (+8.0% per year).

In value terms, India ($15.9B) led the market, alone. The second position in the ranking was held by Canada ($6B). It was followed by China.

In India, the textile weaving and knitting machinery market increased at an average annual rate of +32.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Canada (+17.9% per year) and China (+5.0% per year).

In 2022, the highest levels of textile weaving and knitting machinery per capita consumption was registered in Canada (27 units per 1000 persons), followed by the Netherlands (5 units per 1000 persons), South Africa (3.3 units per 1000 persons) and Spain (1.9 units per 1000 persons), while the world average per capita consumption of textile weaving and knitting machinery was estimated at 0.6 units per 1000 persons.

In Canada, textile weaving and knitting machinery per capita consumption increased at an average annual rate of +15.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+31.2% per year) and South Africa (+18.8% per year).

Production

World Production of Machines For Preparing, Weaving And Knitting Textiles

In 2022, approx. 3M units of machines for preparing, weaving and knitting textiles were produced worldwide; surging by 12% compared with 2021. Over the period under review, production recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 19% against the previous year. Over the period under review, global production attained the peak volume in 2022 and is likely to see gradual growth in the immediate term.

In value terms, textile weaving and knitting machinery production declined to $16.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when the production volume increased by 28%. As a result, production attained the peak level of $18.4B, and then fell in the following year.

Production By Country

China (1.1M units) remains the largest textile weaving and knitting machinery producing country worldwide, comprising approx. 37% of total volume. Moreover, textile weaving and knitting machinery production in China exceeded the figures recorded by the second-largest producer, India (526K units), twofold. The third position in this ranking was taken by Canada (525K units), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +12.9%. In the other countries, the average annual rates were as follows: India (+35.4% per year) and Canada (+11.8% per year).

Imports

World Imports of Machines For Preparing, Weaving And Knitting Textiles

In 2022, the amount of machines for preparing, weaving and knitting textiles imported worldwide expanded notably to 3.7M units, picking up by 12% against the previous year's figure. Overall, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 108%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, textile weaving and knitting machinery imports expanded rapidly to $10.5B in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 32%. Global imports peaked at $10.9B in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports By Country

India represented the main importing country with an import of around 1.7M units, which recorded 46% of total imports. Canada (513K units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by South Africa (5.6%) and the United States (5.1%). The following importers - the UK (134K units), the Netherlands (91K units), Spain (81K units), France (63K units) and Bangladesh (57K units) - together made up 11% of total imports.

India was also the fastest-growing in terms of the machines for preparing, weaving and knitting textiles imports, with a CAGR of +40.8% from 2012 to 2022. At the same time, Canada (+25.5%), Spain (+24.1%), the Netherlands (+24.0%), South Africa (+20.7%), the United States (+7.9%) and France (+4.2%) displayed positive paces of growth. By contrast, Bangladesh (-1.6%) and the UK (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Canada and South Africa increased by +40, +8.3 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($1.7B) constitutes the largest market for imported machines for preparing, weaving and knitting textiles worldwide, comprising 17% of global imports. The second position in the ranking was held by Bangladesh ($709M), with a 6.8% share of global imports. It was followed by the United States, with a 4.7% share.

In India, textile weaving and knitting machinery imports increased at an average annual rate of +4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+4.8% per year) and the United States (+6.4% per year).

Imports By Type

In 2022, knitting machines (958K units) and weaving machines (looms) (926K units) were the key types of machines for preparing, weaving and knitting textilesin the world, together comprising 78% of total imports. Textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and machines for preparing textile yarns for use on machines of heading no. 8446 and 8447 (410K units) ranks next in terms of the total imports with a 17% share, followed by textile machinery; for extruding, drawing, texturing or cutting man-made textile materials (4.9%).

From 2012 to 2022, the biggest increases were recorded for weaving machines (looms) (with a CAGR of +14.2%), while purchases for the other products experienced more modest paces of growth.

In value terms, textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and machines for preparing textile yarns for use on machines of heading no. 8446 and 8447 ($4B), knitting machines ($2.8B) and weaving machines (looms) ($2.1B) constituted the products with the highest levels of imports in 2022, with a combined 84% share of global imports.

Textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and machines for preparing textile yarns for use on machines of heading no. 8446 and 8447, with a CAGR of +1.6%, recorded the highest rates of growth with regard to the value of imports, among the main imported products over the period under review, while purchases for the other products experienced mixed trends in the imports figures.

Import Prices By Type

In 2022, the average import price for machines for preparing, weaving and knitting textiles amounted to $2,819 per unit, approximately reflecting the previous year. Overall, the import price saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 28%. Global import price peaked at $10,250 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was textile machinery; for extruding, drawing, texturing or cutting man-made textile materials ($14,168 per unit), while the price for weaving machines (looms) ($2,265 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and machines for preparing textile yarns for use on machines of heading no. 8446 and 8447 (-4.4%), while the other products experienced a decline in the import price figures.

Import Prices By Country

In 2022, the average import price for machines for preparing, weaving and knitting textiles amounted to $2,819 per unit, leveling off at the previous year. In general, the import price showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 28%. Over the period under review, average import prices reached the maximum at $10,250 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($12,380 per unit), while Canada ($67 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Machines For Preparing, Weaving And Knitting Textiles

For the fifth consecutive year, the global market recorded growth in shipments abroad of machines for preparing, weaving and knitting textiles, which increased by 12% to 1.7M units in 2022. Over the period under review, exports enjoyed strong growth. The growth pace was the most rapid in 2019 when exports increased by 45% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, textile weaving and knitting machinery exports expanded remarkably to $10.5B in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 37%. Over the period under review, the global exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports By Country

China represented the key exporting country with an export of about 839K units, which accounted for 50% of total exports. Singapore (174K units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by India (8.7%), Spain (6.1%) and Belgium (5.6%). The following exporters - Italy (73K units) and Japan (62K units) - each accounted for an 8% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to textile weaving and knitting machinery exports from China stood at +14.2%. At the same time, Belgium (+45.9%), Spain (+27.1%), India (+26.5%) and Singapore (+21.4%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +45.9% from 2012-2022. By contrast, Japan (-2.8%) and Italy (-3.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Singapore, India, Belgium and Spain increased by +28, +7.8, +7.3, +5.4 and +5.2 percentage points, respectively.

In value terms, China ($3.3B), Japan ($2B) and Italy ($964M) constituted the countries with the highest levels of exports in 2022, with a combined 59% share of global exports. Belgium, India, Spain and Singapore lagged somewhat behind, together comprising a further 12%.

In terms of the main exporting countries, Belgium, with a CAGR of +33.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

In 2022, knitting machines (546K units), distantly followed by textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and machines for preparing textile yarns for use on machines of heading no. 8446 and 8447 (358K units), weaving machines (looms) (262K units) and textile machinery; for extruding, drawing, texturing or cutting man-made textile materials (130K units) were the major types of machines for preparing, weaving and knitting textiles, together making up 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exported products, was attained by weaving machines (looms) (with a CAGR of +7.3%), while the other products experienced more modest paces of growth.

In value terms, textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and machines for preparing textile yarns for use on machines of heading no. 8446 and 8447 ($4.1B), knitting machines ($2.8B) and weaving machines (looms) ($2.2B) constituted the products with the highest levels of exports in 2022, together accounting for 87% of global exports.

Weaving machines (looms), with a CAGR of +5.4%, recorded the highest growth rate of the value of exports, among the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2022, the average export price for machines for preparing, weaving and knitting textiles amounted to $6,204 per unit, surging by 2.8% against the previous year. Overall, the export price, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 52%. As a result, the export price attained the peak level of $13,294 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and machines for preparing textile yarns for use on machines of heading no. 8446 and 8447 ($11,543 per unit), while the average price for exports of knitting machines ($5,113 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by textile machinery; for extruding, drawing, texturing or cutting man-made textile materials (+0.1%), while the other products experienced a decline in the export price figures.

Export Prices By Country

The average export price for machines for preparing, weaving and knitting textiles stood at $6,204 per unit in 2022, growing by 2.8% against the previous year. Overall, the export price, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2017 an increase of 52% against the previous year. As a result, the export price reached the peak level of $13,294 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($31,601 per unit), while Singapore ($31 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.2%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform