As per Future Market Insights, the worldwide draw heat setting winder market is anticipated to attain a value pool of US$ 15 billion by 2023-end. Global demand for draw heat setting winders is expected to rise at a CAGR of 4.4% to US$ 23 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value of Draw Heat Setting Winders in 2023 | US$ 15 billion |
| Projected Market Value of Draw Heat Setting Winders in 2033 | US$ 23 billion |
| Growth Rate (2023 to 2033) | 4.4% CAGR |
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According to research study estimates, Draw Heat Setting Winder market is anticipated to grow at higher growth during 2021-2031 to the tune of 4.5 to 5% CAGR. The rising demand for the machine is attributed to need of higher resolution rate of the various yarn faults caused by the traditional sewing techniques.
Demand for the product will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Increasing textile industries is expected to extend the product opportunities in coming years.
The textile industry was drastically challenged in 2020 due to the impact of the COVID-19 pandemic. The textile industry has suffered from the prolonged lockdowns and restrictions in the majority countries along with the sudden drop in the demand for draw heat setting winder machine in the year 2020.
The COVID-19 has impacted the global market by directly influencing the manufacturing process of the product and the demand of product, by disrupting its supply chain and the logistics and by its financial impact on companies and financial market.
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In industrial sector, the demand for the draw heat setting winder machine is increasing for drawing and setting of the industrial yarns and sewing threads. Besides, this machine is specially designed for advancing the properties of sewing thread such as elongation, tenacity and shrinkage property which is expected to boost the market growth during the forecast period.
As per industry expert’s opinion, it has been observed that mechanized solutions have proved to be effective over the traditional draw processes thereby leading to usher plenty of opportunities for the higher growth of global market. Based on operation type, the automatic draw heat setting winder is expected to hold prominent share in the global market over the forecast period.
Attributing to the rising usage of the product in textile industries globally and high efficiency of the automatic machine is propelling the growth of the global Draw Heat Setting Winder market. Also, the cylinder product type is expected to grow at considerable growth rate over the projection period.
The market is segmented into automatic and semi-automatic based on operation type of product. Among this, the automatic segment is estimated to attain the highest share in the market owing to the some of the primary aspects such as to improve the overall productivity, to ensure consistency, to lower operation costs and to reduce dependency on manpower.
This machine has advanced electronic information control technology which provide stable, high quality and efficient solutions and is estimated to attain dominance against the semi-automatic machine throughout the forecast period.
The global draw heat setting winder market continues to be driven by the world’s largest textile producing countries and top exporters. It has been observed that, the major textile manufacturing and trading country in the world is China, Bangladesh and India. It has become one of the main pillars of china’s economy owing to its rapid growth over the last two times.
Hence based on geographical market, it has been observed that the Asia Pacific region has registered the market's highest growth rate during the forecast period which is expected to propel the market globally.
The USA is considered to be a prominent regional hub for textiles industry which is expected to boost the market of the draw heat setting winder machine throughout the forecast period. The USA. is one of the largest producers, raw-cotton exporter, and top raw-textile importer which is forecasted to record major share over the analysis period 2021 to 2031 owing to the expansion of the existing industries in the respective countries.
In Europe region, Germany and Italy are estimated to grow with higher CAGR as compare to other noteworthy geographic markets in Europe. Presence of many manufacturers in many European countries will surge the growth of Draw Heat Setting Winder market. Due to the increasing textile industries in respective European countries is expected to propel the global market.
Some of the key manufacturers & suppliers of the product include
Manufacturers of this equipment are aiming to provide excellence machine technology, solutions & services to customers worldwide by following global best practices, and adopting contemporary technology, leveraging learning continuously, to deliver competitive solutions that rank high on quality & reliability.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Draw Heat Setting Winder Market
