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The automation in textile market size is estimated to grow at a CAGR of 3.75% between 2023 and 2028. The market size is forecast to increase by USD 775.92 million. The growth of the market depends on several factors, including upgrading industrial facilities to improve energy efficiency, favorable government policies, and technological developments in the automation market for the textile industry.
The report includes a comprehensive outlook on the Automation Market in Textile industry, offering forecasts for the industry segmented by Component, which comprises field devices, control devices, and communication,. Additionally, it categorizes Solution into hardware and software, and services, and covers Regions, including APAC, Europe, North America, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Automation Market in Textile industry Forecast 2024-2028
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Many textile manufacturing facilities around the world are investing in improving efficiency by implementing automation solutions. This will help improve the operational functions and reduce costs. With the help of these solutions, it is possible to maintain the same quality throughout the year.
Moreover, the growing awareness among textile manufacturers about the benefits of automation is one of the major reasons for the upgrade of existing facilities, as these automation solutions help reduce the workforce required to complete a task, thereby reducing operational costs. This trend is expected to drive the growth of the global automation market in the textile industry during the forecast period.
Enterprise Resource Planning (ERP) is a software system that helps manage the entire business, supporting automation and processes in the fields of finance, human resources, production, supply chain, services, and purchasing. Enterprise resource planning solutions help coordinate between departments by improving communication and information exchange, thereby reducing the time taken for approvals. This helps improve the process efficiency of each department of textile manufacturing plants.
In addition, ERP solutions are mainly used in facilities to maintain and coordinate the functions between finance, production, procurement, supply, and warehouse departments. With efficient resource planning, the functions of each department can be run smoothly. Thus, such benefits are expected to register a growth of the global automation market in the textile industry during the forecast period.
Many small and medium-sized textile manufacturing units are yet to implement automation, mainly in developing countries, due to the changes required in the facility and the machinery used. The changes to be implemented in the facilities will result in additional costs, and the downtime during the implementation will directly affect the overall production. The need to alter the facilities to implement automation solutions requires additional space to accommodate standalone or centralized control stations, which is not feasible for SMEs.
Furthermore, another reason is the availability of low-cost labor in the SMEs in developing countries, which makes the textile manufacturing facilities rely on normal machinery for production as they find it economical. Thus, such factors are negatively affecting the adoption of automation solutions in SMEs, thus impeding the growth of the market during the forecast period.
The market share growth by the field devices segment will be significant during the forecast period. Drives, motors, valves, and actuators are the field devices used in the textile industry, Each of these components has high importance in the industry for different purposes.
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The field devices segment was valued at USD 1,917.74 million in 2018. Field devices are the basic requirements for the textile industry, which is constantly upgrading the facilities to implement automation solutions. Many investments in the industrial sector are expected to create demand for field devices. The field devices segment had high demand during the base year as these are the devices that are used to control the functions of hardware components like motors, drives, valves, and actuators. The demand for these field devices is expected to grow, which will drive te automation in textile market growth during the forecast period.
Based on solution, the market has been segmented into hardware and software, and services. The hardware?and software segment will account for the largest share of this segment.?The hardware segment has a higher demand as the number of hardware components required in the textile manufacturing industry is much higher than software applications. With the expected investments and developments within the textile industry, the demand for these products is expected to increase. Furthermore, textile manufacturers are expected to implement licensed software like HMI, which facilitates frequent updates provided by automation in textile market players, ensuring smooth functioning. Automation in the textile industry is growing. The level of automation over the past ten years has increased, and it is expected to increase further due to the growing demand which will further propel the market during the forecast period.
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APAC is estimated to contribute 44% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. APAC is the largest revenue-generating region mainly due to the demand from countries like China, India, and Bangladesh. Most of the textile manufacturing facilities in this region only have basic automation solutions, as the wages are comparatively low. The stable cotton prices have also helped manufacturers in planning production and predicting operation costs. This is the reason for higher investments in these regions, leading to higher growth in the automation in textile market.
Furthermore, favorable policies by the governments have also benefitted countries in this region. Such policies have led to an increase in investments, which will create demand for automation solutions in the textile industry. The growing awareness about return on investment among end-users in APAC has resulted in the upgrade of existing textile manufacturing facilities, which will create demand for automation products and services during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ATE Pvt. Ltd., Baumuller Nurnberg GmbH, BrainChild Electronic Co. Ltd., CLD Automation, Cotmac Electronics Pvt. Ltd., Delta Electronics Inc., Festo SE and Co. KG, Hitachi Ltd., Honeywell International Inc., KUKA AG, Lenze SE, Niagara Automations, Parker Hannifin Corp., Rockwell Automation Inc., SAURER AG, Schneider Electric SE, SIEGER SPINTECH EQUIPMENTS Pvt. Ltd., Siemens AG, and Yaskawa Electric Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The automation market in textile industry report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Automation Market In Textile Industry Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.75% |
Market Growth 2024-2028 |
USD 775.92 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.96 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, China, India, Pakistan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., ATE Pvt. Ltd., Baumuller Nurnberg GmbH, BrainChild Electronic Co. Ltd., CLD Automation, Cotmac Electronics Pvt. Ltd., Delta Electronics Inc., Festo SE and Co. KG, Hitachi Ltd., Honeywell International Inc., KUKA AG, Lenze SE, Niagara Automations, Parker Hannifin Corp., Rockwell Automation Inc., SAURER AG, Schneider Electric SE, SIEGER SPINTECH EQUIPMENTS Pvt. Ltd., Siemens AG, and Yaskawa Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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