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Cotton Ginning Machinery Market Report 2024 - Cotton Ginning Machinery Market Growth And Insights
Cotton Ginning Machinery Market
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According to The Business Research Company's, The cotton ginning machinery market size has grown strongly in recent years. It will grow from $3 billion in 2023 to $3.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to labor shortages, market competition, governmental policies and subsidies, economic development, market liberalization.
The cotton ginning machinery market size is expected to see strong growth in the next few years. It will grow to $4.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to supply chain disruptions, climate change impacts, shifts in consumer preferences, emerging market demand, sustainability focus. Major trends in the forecast period include circular economy initiatives, multi-functional machinery, predictive maintenance, remote monitoring and control, customization and adaptability.
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Market Drivers and Trends:
Growing demand for cotton and related products is expected to drive the cotton ginning market. Cotton is the oldest and most widely used fabric for making apparel as it is the most comfortable fabric to use, especially in tropical regions where the climate is humid. It is also used to make other industrial fabrics. For instance, in August 2023 according to the report published by the U.S. Department of Agriculture (USDA), a US-based government agency, it is anticipated that global cotton mill use is going to increase by 5.0 million bales (4.5 percent) to 115.9 million bales in 2023-24. Cotton is sold only after ginning which is separate fiber from the seed done using the cotton ginning machine. Thus, the rise in demand for cotton aids in the growth of the cotton ginning market.
The use of DNA traceability systems in cotton gins is a major trend shaping the market. For assuring the origin of the cotton fiber, the DNA traceability system uses DNA tagging which will allow the retailers and customers to verify the presence of cotton in the finished products. For instance, in May 2022, Reinhart, a Switzerland-based cotton trader has teamed up with Swiss product traceability expert Haelixa to provide traceable Global Organic Textile Standard (GOTS) cotton from Tanzania. Together with Tanzanian cotton ginning firm Alliance Ginneries, Reinhart is offering traceable GOTS certified cotton for the first time by utilising the DNA-based traceability solution from Haelixa. For Reinhart, Haelixa created a special marker that was then applied with the specially designed automated sprayer Haelixa created right at the gin in Tanzania. The use of DNA traceability will allow consumers to make more confident purchase decisions and promote the use of cotton.
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Major Key Players of the Market:
Continental Gin Company, H.E. But*t Gin Co., GSK Machines Pvt. Ltd., Hebei Yingye Machinery Co. Ltd., Bajaj Group, Nipha Group, Handan Golden lion Cotton Machinery, Rieter AG, V.K. Industries, Lakshmi Ginning & Machinery Co. Ltd., Jagdish Industries, Platt International Limited, Dalwadi Group of Company, Balkan Textile And Cotton Gin Machinery Co. Inc, Texmo Industries Ltd., Lummus Corporation, Super Ginning & Engineering Corporation, Qingdao Hongda Heavy Machinery Co. Ltd., KARUNANAND HYDRO-PNEUMATIC CONTROLS PVT. LTD., Shandong Swan Cotton Industrial Machinery Stock Co.Ltd., Shandong Tianyi Machinery Manufacture Limited, Murray International, Crosland SDS Ltd., Wuhan Textile Machinery Co. Ltd., Bhagwati Engineering Works, Truetzschler GmbH & Co. KG, Jadhao Gears PVT. LTD., Premier Poly Cotton Ginning Machinery Ltd., Mitchell Ginning Equipment, Kasia Ginning Machinery
Cotton Ginning Machinery Market 2024 Key Insights:
• The cotton ginning machinery market size is expected to see strong growth in the next few years. It will grow to $4.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Cotton Ginning Market Flourishes On Surging Global Demand For Cotton And Its Versatile Applications
• Dna Traceability Systems Reshape The Cotton Ginning Market
• The Asia-Pacific was the largest region in the cotton ginning machinery market share in 2023
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