Global Textile Printing Machine Market was valued at $7,309 million in 2016 and is projected to reach $10,220 million by 2023, growing at a CAGR of 5.0% from 2017 to 2023. Textile printing machines are electronic machines used to print various decorative designs, styles, and patterns using inks onto fabrics such as cotton, silk, wool, polyester, and other materials.
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Increase in usage of digital textile printing, development in fashion trends, the rise in demand for technical textile, and growth in technological advancements are expected to drive the global textile printing machine market. Various technological advancements in the hybrid and digital textile printing machines are expected to provide lucrative opportunities for the textile printing machine market.
The report segments the global textile printing machine market on the basis of type, application, and geography. Based on the type, the market is divided into rotary screen textile printing, automatic flat screen printing, hand screen printing, dye sublimation transfer printing, digital textile printing, hybrid textile printing, and others.
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On the basis of application, it is classified as clothing/garment, household, display & others and technical textiles. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The digital textile printing machine is expected to grow at the fastest CAGR of 9.7% during the forecast period (2017-2023).
Key players profiled in the global textile printing machine market are Agfa-Gevaert N.V, APSOM Technologies (India) Pvt. Ltd., Durst Group, Electronics for Imaging Inc.(EFI), 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.
The region-wise analysis of the global textile printing machine market covers North America, Europe, Asia-Pacific, and LAMEA. Various countries covered under each region are studied and analyzed to identify the major trends demonstrated by these respective regions.
Asia-Pacific dominated the textile printing machine market in 2016, followed by Europe.
Improvement in economic condition and growth in disposable income are the two key factors that propel the market growth for luxury goods. After the 2009 Europe economic crisis and China economic crisis, the world economy witnessed a standstill.
However, the world has revived from the impact of the crisis, which is evident from the constant rise in GDP growth rate since 2010. Strong economic growth, especially in the developing economies, has led to increase in disposable income among the middle-income groups, consequentially adding to the middle-class population.
In addition, the disposable income of individuals in North America and Asia-Pacific has increased, thus majorly driving the textile printing machine market
- The report provides an in-depth analysis of the global textile printing machine market to identify the potential investment pockets.
- The key drivers, restraints, and opportunities are provided in the report.
- Porters Five Forces model helps analyze the potential buyers and suppliers and the competitive sketch of the global textile printing machine market, which is expected to guide the market players to develop strategies accordingly.
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