Braiding Machine Spindles Market Forecast and CAGR
According to research estimates, the braiding machine spindles market is expected to experience substantial gains, with projections around 4% to 6% CAGR from 2021 to 2031. Demand for spindles will witness steady growth in short-term, with high growth outlook in the long-run.
Subdued demand from various end use industries will create significant opportunities in near future, however, sales of braiding machine spindles application at textile industry will provide momentum and helps in reducing operating costs and waste.
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What is Driving Demand for Braiding Machine Spindles?
Growing demand from a plethora of consumer goods based manufacturing industries for intermediate process in weaving will continue to drive demand for braiding machine spindles. Textile industry applications continue to be a lucrative avenue for spindle solution manufacturers.
With the advent of automatic braiding machines, braiding machine spindles being a pivotal consumable will gain healthy rate of new unit as well as retrofit based installations.
Spindles have excellent operational performance in high-speed braiding machines and offers high finish quality products, and provides optimum functional support across various application in end use industries including textiles, footwear and medical, etc.
Increasing demand for high speed automatic braiding machines is equipped with programmable logic controller, automatic mass adjusting and motor-driven yarn feeder’s etc. will provide momentum for spindles across the globe. The high speed braiding machines save costs of labour, electricity and time.
The simplified adjustment, feature which is three times faster than the normal traditional braiding machine. This trend has pushed the growth of the braiding machine spindles market in terms of value as well as volume sales. The above aspects can create a significant demand for spindles to perform complex operations with advanced technology.
Textile Industry Primarily to Augment Braiding Machine Spindles Sales
Textile industry around the globe have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on textile industry allied sector services. As the braiding machine spindles manufacturers are likely to witness sustained opportunities in the future from end-use industries.
Braiding machine spindles are designed to deliver high performance, corrosion resistant finish and high process reliability and used extensively for complex operations in various industries. Although lockdown and shelter-at-home guidelines have meant restricted production activities, sales are likely to improve over the course of the assessment period.
These are offered with anti-abrasive finish that provides for longer service life and designed to enhance productivity as well as improve product quality.
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China Demand Scenario
China is considered to be one of the prominent markets for textile and other industries. China market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to remain significant in the next couple of years, as the end use industries make gradual recovery.
Demand for braiding machine spindles across end use industries in China will be led by textile & garments, and other industries. China will account for high demand for the manufacturing of spindles, as demand for spindles continues over the forecast period. Chain’s investment on textile industry is likely to surge significantly over a period and beyond, and this will continue to benefit the manufacturing companies.
China spindle sales will also be impacted by the COVID-19 recovery in 2021. Equipment manufacturers faces a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022. The momentum is likely to hold ground, which will provide an impetus to a wide range of braiding spindles.
North America Demand Outlook
North America hold major share in the world textile industry, and other end-use industries investments, which in turn continues to drive demand for braiding machine spindles.
Despite the COVID-19 challenges, U.S. and Canada have maintained a steady growth in production and exports in 2020. US is the leading regional market which is expected to continue creating opportunities from medical linen products, PPE etc. in wake of demand of end use products originating from the pandemic.
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Who are the Key Manufacturers and Suppliers of Braiding Machine Spindles?
Some of the leading manufacturers and suppliers include
- Steeger USA
- Shanghai Dura Industrial Co. Ltd.
- Changzhou Cabletec Machinery Co. Ltd.
- Jayson Engineering & Mfg. Co.
- Shanghai Gaohe Imp. & Exp. Co. Ltd.
- Ningbo Credit Ocean Machinery & Electron Co. Ltd.
- Abhilash Enterprises
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