According to a new report published by Allied Market Research, titled,"Textile Printing Machines Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the textile printing machines market size was valued at $9.201 million in 2017, and is projected to reach at $13,988 million by 2025, growing at a CAGR of 5.5% from 2018 to 2025. Asia-Pacific is expected to be the leading contributor to the global textile printing machines market, followed by Europe and North America.
Textile printing machines are used to print various decorative designs, styles, and patterns using inks onto fabrics. Increase in usage of digital textile printing, rise in demand for technical textile, development in fashion trends and increased spending on fashion apparels and others products are expected to drive the global textile printing machine market. However, harmful environmental impact of textile printing and high cost of production are expected to hamper the market growth. Conversely, various technological advancements in the hybrid and digital textile printing machines are expected to provide numerous growth opportunities for the textile printing machines market.
The rotary screen-printing machines segment accounted for the maximum revenue share in 2017, and is expected to generate maximum revenue during the forecast period in the overall textile printing machines industry, as they provide higher productivity and superior production speed. Moreover, these machines are lightweight in nature, leading to their high preference over other textile printing machines. Floral prints, funky slogans, memes, tribal, and other prints on garments, such as T-shirts, shirts, denims, and jackets are gaining increased popularity, which boosts the growth of the market. The textile printing machines deliver enhanced productivity and high-quality fine images on a garment, thereby guaranteeing high performance. Thus, clothing/garments printing applications segment is expected to witness highest CAGR of 6.7% during forecast period in the textile printing machines market.
The demand for textile printing machines is increasing rapidly, owing to surge in usage of digital textile printing. Moreover, speedy developments in fashion trends and rise in demand for technical textile contribute toward the growth of this market. Furthermore, technological developments and introduction of high-speed, single-pass large printers have led to the upgradation of conventional textile printing machines, which is expected to drive the market growth. However, high production cost and harmful environmental impact of textile printing are expected to hamper the market growth. On the contrary, various technological advancements in the hybrid and digital textile printing machines are expected to provide lucrative opportunities for market expansion.
Asia-Pacific accounted for a major share of the global textile printing machines market in 2017, owing to the availability of labor at cheaper costs and high government initiatives toward textile industries in India and China. Asia-Pacific is estimated to grow at the highest rate, followed by Europe due to high demand for customization of prints.
Key Findings of the Textile Printing Machines Market:
- In 2017, the rotary screen-printing machine segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 5.2% during the forecast period.
- The clothing/garment segment accounted for more than 40% of the textile printing machines market share in 2017.
- Italy was the major shareholder in the Europe textile printing machines market, accounting for more than 31% share in 2017.
The key players profiled 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.
Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the textile printing machines market.