The global market for spinning machines is projected to grow at a CAGR of 5.5 percent to reach USD 7.3 billion by 2027 says a ResearchAndMarkets.com study.

One of its segments Ring Spinning is projected to record a 5.6 percent CAGR and reach USD 3.1 billion by the end of the analysis period while the Rotor Spinning segment is projected to grow at 5.8 percent CAGR for the next seven years.

 

China, the world’s second largest economy, is forecast to grow at 8.4 percent CAGR to reach a projected market size of USD 1.5 billion by 2027. Other noteworthy geographic markets such as Japan and Canada are forecast to grow at 3 percent and 5 percent respectively from 2020 to 2027. Within Europe, Germany is forecast to grow at approximately 3.5 percent CAGR.

 

In the global other types segment, the U.S., Canada, Japan, China and Europe will drive the 4.4 percent CAGR estimated for this segment. These regional markets will reach a projected size of USD 1 billion by the end of 2027. China will remain among the fastest growing in this cluster of regional markets.

 

The market in Asia-Pacific is forecast to reach USD 976 million by 2027, while Latin America will expand at a 5.9 percent CAGR through the analysis period.

 

Source: fashionatingworld.com