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Textile Printing Machine Market Projected to Attain $13.9 Billion by 2025 at 5.5% CAGR
textile printing machine market generated $9.2 billion in 2017 and is expected to garner $13.9 billion by 2025, registering a CAGR of 5.5% during the forecast period, 2018-2025.
The growth of the global textile printing machine market is driven by the surge in demand for technical textiles, evolving consumer lifestyle & behavior, and rapid growth in disposable income. Market growth is also supplemented by development in fashion trends, growth in online sales, and technological advancements. However, high production cost and negative impact on environment hamper the market growth. Nonetheless, the increasing use of digital textile printing would provide lucrative opportunities for emerging market players in the near future.
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By type, the digital textile printers’ segment is projected to grow at the fastest CAGR of 9.7% from 2018 to 2025, owing to rapid reduction in printing time and its ability to print myriad varieties of designs & graphics onto fabrics. However, the rotary screen printing segment would retain its dominance throughout the forecast period and occupy almost three-fifths of global shares by 2025. This is due to their ability to operate in a continuous mode as compared to other textile printing machines, which drives their demand.
By application, the clothing/garments segment is expected to not only grow at the fastest rate during the forecast period but also generate more than two-fifths of the global revenue by 2025. This is attributed to the growing demand for clothes with different design & print, along with rapid development in fashion trends to cater to a changing lifestyle. Regionally, Asia-Pacific is projected to grow at the highest CAGR of 6.9% from 2018 to 2025, owing to technological advancements in areas such as background colors modification, producing optical illusions, and increasing and decreasing the size of the prints.
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The key players analyzed in the report include Agfa-Gevaert N.V, APSOM Technologies (India) Pvt. Ltd., Durst Group, Electronics for Imaging Inc. (EFI), J. Zimmer Maschinenbau GmbH, Konica Minolta, Inc. (Konica), Kornit Digital Ltd., MHM Siebdruckmaschinen GmbH, Ricoh Company, Ltd., ROQ International, Sawgrass Technologies Inc., Seiko Epson Corporation (Epson), SPGPrints B. V., and the M&R Companies. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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