According to a ResearchAndMarkets.com study, the global market for spinning machines is expected to grow at a CAGR of 5.5% to $7.3 billion by 2027. Ring Spinning, one of its segments, is expected to grow at a 5.6 percent CAGR and reach $3.1 billion by the end of the analysis period, while Rotor Spinning is expected to grow at a 5.8 percent CAGR over the next seven years. China, the second largest world economy, is predicted to expand to $1.5 billion at CAGR by 8.4 per cent by 2027. Other remarkable geographical markets such as Japan and Canada are expected to grow by 3% and 5% from 2020 to 2027, respectively. Germany is projected to grow by around 3.5% CAGR in Europe.
The estimated CAGR of 4.4 percent in the Global Other Type segment is driven by the US, Canada, Japan, China, and Europe. By the end of 2027, these regional markets are expected to reach $1 billion. In this cluster of regional markets, China will remain amongst the fastest growing.
The Asia-Pacific market is expected to reach $976 million by 2027, led by countries such as Australia, India and South Korea, while the analyzes will include Latin America’s 5.9 percent CAGR expansion.