Round Knitting Looms Market Size, Share, and Industry Analysis, By Type (4 Shuttles Round Knitting Looms, 6 Shuttles Round Knitting Looms, 8 Shuttles Round Knitting Looms, Others), By Application (4 Shuttles Round Knitting Looms, 6 Shuttles Round Knitting Looms, 8 Shuttles Round Knitting Looms, Others) Regional Forecast To 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global round knitting looms market size is expected to be USD 216.6 million in 2022 and the market is projected to touch USD 277.3 million by 2028, with a growing CAGR of 4.2% during the projected period. The global COVID-19 pandemic has been unprecedented and staggering, with round knitting looms experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

The product is used primarily to produce bags and hose. The shuttles utilized in the product shift in a clockwise direction at the same time. They form a shed by laying rump threads (weft) within sections of wrap thread. They are also employed in circular knitting. They are sometimes managed to install inside of high-speed machines to be used to manufacture modern garments.

COVID-19 Impact: Supply and Lockdown Limitations to Impede Market Advancement

Coronavirus has had a negative impact on the growth of many businesses, including the industries of automobile manufacturing. Regional governments around the world levied shutdown, causing business owners to see a reduction in the demand for the product in the second and third quarters of 2020.

The pandemic of covid-19 impacted the global world and then all major industries. The pandemic also caused significant disruptions in the loom industry. During COVID-19, restrictions such as shutdowns and travel bans or restrictions led to a global decline in textile demand and sales. Aside from these influences, the textile industry confronted multiple other issues, such as a lack of workers and laborers, increased raw material prices, transportation issues, a shortage of trained workers, low working capital, and diminished working capital, and decreased exports and investments. All of these factors had a negative impact on the textile industry. Because the products are an essential part of the textile industry, the market has been impacted. During the pandemic, the market was influenced by a reduction in the number of looms, fewer workers, and a drop in textile sales.

LATEST TRENDS 

"Rising Innovation and Improvements to Stimulate Market Development "

Recently, the round knitting looms market share has seen numerous innovative and inventive changes. New forms of looms with varied personalization are being introduced these days. These looms have the benefit of producing better results and being more efficient. The new looms come with optimized 4, 8, and 6 shuttle designs. Enhanced, modified, and elongated reeds with elevated performance and effectiveness are being introduced to the market. Technically sophisticated circular knitting looms could indeed produce at speeds ranging from to 800-900 pictures per minute. Most looms in use presently include motors that have been specifically adapted to save energy, as well as frequency converters. The sound level of the looms has been significantly reduced as a result of ongoing technological developments and innovation.

SEGMENTATION 

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• By Type

Based on type; the market is divided into 4 shuttles round knitting looms, 6 shuttles round knitting looms, 8 shuttles round knitting looms, others

4 shuttles round knitting looms type are the leading part of the type segment.

• By Application

Based on the application; the market is divided into food packaging, chemical, construction, other

Food Packaging is the leading part of the application segment.

DRIVING FACTORS

"Distinct Features of Circular Looms to Aid Market Expansion "

These looms have specific characteristics that serve to be one of the main motivating factors for the growth of the market. Some of the primary characteristics and features driving the implementation of these looms are outstanding weaving performance, reduced maintenance, less energy consumption, lower waste, and higher productivity improvements.

Advanced loom technologies, such as automatic looms, are emerging as a key market trend. Mostly in multiple colour weft insertion, these products incorporate methodologies such as rapier and gripper productivity and gives greater productivity.

"Enhanced Work and Maintenance to Foster Industry Progress "

The looms have a high degree of effectiveness, performance, and low maintenance. This feature is causing widespread adoption in a variety of applications, increasing the market share of the product. In addition to this, the machinery has many other favourable traits, such as improved fabric quality with the advantage of large reimbursement and low investment.

The enhanced shedding framework in these looms is designed to reduce spares maintenance costs. The nylon belt with hook held wire has replaced the traditional shedding systems. Magnetic cloth winder, are additionally employed to increase the capacity of cloth winders. Circular looms are expected to be widely used during the forthcoming years as a result of these factors.

RESTRAINING FACTORS

"Elevated Prices and Scarcity of Workers to Hinder Market Advancement "

Skilled labour and natural resources such as yarn are essential components of the loom industry. However, the number of yarn pieces is increasing every day, which is having a negative impact on the loom market. Along with rising yarn and many other raw material prices, manufacturers are also burdened by high taxes. The cost of energy and utilities is also soaring, impeding market growth. Despite after the COVID-19 pandemic, there is still a shortage of skilled employees. It is remarkably challenging to operate the market lacking workers. Skilled workers are difficult to find in these periods and sometimes command higher wages, which may have an impact on industry dynamics.

REGIONAL INSIGHTS 

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"Increase in Maximum Production Levels to Foster Market growth in Asia Pacific "

Asia Pacific is the market's dominant region. It is evident that China dominated the majority of the market compared to others, with nearly a one-third share in the year 2019. The same is true, and Asia Pacific continues to dominate the industry. Other regions appear to have comparatively smaller market shares. In addition to being the nation's biggest textile manufacturer and having a competitive advantage within the round knitting loom market, Asia Pacific is indeed the world's leading exporter of raw materials and textiles. China also commands the maximum production in terms of global market share, accounting for nearly half of the market, leaving little room for other countries.

KEY INDUSTRY PLAYERS

"Notable Players in the Industry to Promote Market Expansion "

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market size features, and market growth by type, industry, and customer sector. Furthermore, it presents a complete examination of commercialization factors prior to and following the Covid-19 pandemic.

List of Market Players Profiled 

• Starlinger (Austria)
• Lohia Group (India)
• Yongming Machinery (China)
• Windmöller & Hölscher (Germany)
• PHYLLIS (U.S.)
• Hengli Machinery (Austria)
• Mandals Technology (Norway)
• SANLONG (China)
• JAIKO INDUSTRIES (JP Group) (India)
• Yanfeng Group (China)
• Dong-Shiuan Enterprise (Taiwan)
• ATA Group (Ireland)
• Hao Yu Precision Machinery (Taiwan)
• Garter Mechanical Engineering (Taiwan)

REPORT COVERAGE

The industry report examines the global round knitting looms market growth, geographic and country-level market sizes, categorization market expansion, market share, competitor analysis, sales trends, influence of domestic and international market players, supply chain enhancement, trade laws, latest developments, possibilities analysis, business strategy market expansion analysis, product releases, area competitive landscape expanding, and technological advancements.

The report also examines the equipment market's current state of development and its overall market trend. It also separates the market by categories based on type and applications in order to conduct a detailed study and demonstrate the industry's characteristics and prospects. By taking into account a range of elements, such as growth rate, trends, industrial advancements, technologies, growth, distribution, and barriers, it offers a thorough assessment as well as a detailed analysis.

If the significant competitors or the predicted assessment of market dynamics change, the analysis would need to be updated. In terms of production, this study looked at consumption, manufacturing, annual growth, and share prices of manufacturers. The worldwide round knitting looms market analysis report provides a detailed examination of the numerous methods and components used in the manufacturing of the products of round knitting looms market. From industry value chain assessment to cost analysis approach, the report examines multiple elements comprising of the round knitting looms market, including production and end-use segments.