| Product Code: ETC286824 | Publication Date: Aug 2022 | Product Type: Market Research Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India circular knitting machine market import shipment experienced a declining trend with a CAGR of -4.7% from 2020 to 2024. The growth rate between 2023 and 2024 further decreased by 37.7%, indicating a significant slowdown in market expansion. The market exhibited a consistent downward momentum over the period, suggesting a contraction in overall imports.
The India circular knitting machine market is a significant component of the country`s textile and garment manufacturing industry. Circular knitting machines are used to produce knitted fabrics in various applications, including apparel, home textiles, and technical textiles. The market`s outlook is promising, driven by factors such as the growing demand for knitted fabrics, the rise of the textile and apparel sector, and the need for efficient and high-speed production. The adoption of circular knitting machines contributes to enhanced productivity and the ability to produce a wide range of knitted fabric designs. Key players in the market offer a variety of circular knitting machines, including single jersey machines, double jersey machines, and electronic knitting machines, meeting diverse manufacturing needs in India. The focus on technology upgrades, automation, and customer support enhances the appeal of circular knitting machines in the India market. However, challenges related to market competition and fluctuating raw material prices require vigilant marketing and cost management efforts. Overall, the India circular knitting machine market is expected to experience steady growth as the textile industry continues to evolve and cater to changing consumer demands.
The India circular knitting machine market is expected to witness growth due to several key drivers. Firstly, the booming textile and apparel industry in India is driving the demand for circular knitting machines for efficient and cost-effective fabric production. Circular knitting machines offer high productivity and versatility, making them suitable for various fabric types and garment styles. Secondly, the increasing demand for knitted fabrics in the fashion and home textiles sectors is contributing to the adoption of circular knitting machines. Additionally, technological advancements in circular knitting machines, such as computerized controls and automatic features, are creating opportunities for manufacturers in the India market.
The India circular knitting machine market encounters certain challenges impacting its growth in the textile and apparel industries. Firstly, the competition from low-cost imports of circular knitting machines from other countries poses a challenge for domestic manufacturers. Providing technologically advanced and efficient machines at competitive prices is crucial for market sustenance. Secondly, the skill gap and lack of trained technicians for operating circular knitting machines affect efficient utilization and productivity. Offering training and support services to customers can help in addressing this challenge. Moreover, the demand fluctuations in the textile industry can impact the demand for circular knitting machines. Manufacturers must focus on product diversification, automation, and customer service to tackle these challenges and maintain a strong foothold in the circular knitting machine market in India.
The India circular knitting machine market is projected to witness steady growth in the forecast period. Circular knitting machines are widely used in the textile and apparel industry for knitting fabrics in a continuous loop. The market is driven by factors such as the growth of the textile industry, increasing demand for knitted fabrics in fashion and sportswear, and advancements in knitting machine technology. Additionally, the government`s initiatives to boost domestic textile manufacturing are contributing to the demand for circular knitting machines in India. However, the COVID-19 pandemic had a mixed impact on the market. While there was a temporary decline in demand due to project delays and disruptions in industrial activities during the lockdowns, the market witnessed increased usage of knitted fabrics in essential products like face masks and medical textiles. As economic activities normalize and consumer demand for knitted apparels recovers, the demand for circular knitting machines is expected to bounce back, supporting the market`s growth in the post-pandemic era.
The India circular knitting machine market is driven by the growth of the textile and apparel industry in the country. Key players in this market include Mayer & Cie. (India) Pvt. Ltd., Pailung Machinery Mill Co., Ltd., Groz-Beckert Asia Pvt. Ltd., and Laxmi Engineering Works. These companies offer a wide range of circular knitting machines catering to various knitting applications. With a focus on technology advancement, productivity enhancement, and user-friendly features, these key players are well-positioned to meet the demand for circular knitting machines in India.
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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