The global textile testing equipment market size is poised to grow by USD 121.52 million during 2020-2024, progressing at a CAGR of almost 2% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Textile Testing Equipment Market 2020-2024 (Graphic: Business Wire)
Increasing demand for non-woven textiles will be one of the key drivers for the textile testing equipment market during the forecast period. Non-woven fabric is a web structure of individual fibers manufactured at high-speed using low-cost processes that include web formation, web bonding, and finishing and require textile machinery in each step. Some of the key factors that played a crucial part in the increasing demand of the non-woven textile industry are benefits such as low cost, recyclability, easily disposable, and environment friendly. These factors will help the growth of the textile industry during the forecast period.
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Report Highlights:
- The major growth came from the textile companies segment, due to the rising demand for textiles from several end-users.
- APAC was the largest textile testing equipment market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the growth of the apparel industry and increased investments by foreign companies in the textile and garment industry.
- The global textile testing equipment market is fragmented. AMETEK Inc., Bureau Veritas SA, Intertek Group Plc, Paramount Textiles Ltd., Rieter Holding AG, Roaches Ltd., SAI Global Pty. Ltd., SDL Atlas, SGS SA, and TESTEX Instruments Ltd. are some of the major market participants. To help clients improve their market position, this textile testing equipment market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global textile testing equipment market 2020-2024 is expected to have a negative impact. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
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Rising Use of Sustainable Fibers will be a Key Market Trend
Sustainable fibers are expected to turn into a great growth prospect for the global textile testing equipment market for the next five years. Further R&D in this segment will propel the demand for textile testing equipment worldwide. For instance, a California-based company, Synergy, offers a variety of fibers with a blend of organic cotton that includes hemp and bamboo. These developments will increase the growth of the textile testing equipment market during the forecast period.
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Textile Testing Equipment Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in textile testing equipment market growth during the next five years
- Estimation of the textile testing equipment market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the textile testing equipment market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of textile testing equipment market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user
- Textile companies - Market size and forecast 2019-2024
- Professional testing agencies - Market size and forecast 2019-2024
- Market opportunity by End user
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendors landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AMETEK Inc.
- Bureau Veritas SA
- Intertek Group Plc
- Paramount Textiles Ltd.
- Rieter Holding AG
- Roaches Ltd.
- SAI Global Pty. Ltd.
- SDL Atlas
- SGS SA
- TESTEX Instruments Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201105005440/en/
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