Market Forecast By Machine Types (Spinning Machine, Weaving Machine, Knitting Machine, Texturing Machine), By Applications (Textile Industry, Clothing Industry), By Raw Material Types (Wool, Cotton, Cellulosic, Polypropylene, Acrylic, Others) And Competitive Landscape
Product Code: ETC004262 | Publication Date: Sep 2020 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Vietnam Apparel & Textile Machinery Market |
Forecast period | 2025-2031 |
CAGR | 11% |
Growing Sector | Clothing Industry Segment |
The Vietnam Apparel & Textile Machinery Market report thoroughly covers the market by machine types, applications and raw material types. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Vietnam Apparel & Textile Machinery Market is expected to experience a steady growth during the forecast period. This growth can be attributed to various factors such as increasing disposable income, changing consumer preferences towards branded clothing, and government initiatives promoting the development of the textile industry.
According to 6Wresearch, Vietnam Apparel & Textile Machinery Market size is expected to grow at a CAGR 11% during 2025-2031. Vietnam's highly skilled and competitive labor force is one of the primary factors propelling the country's garment and textile industry's expansion. With almost 60% of the population under 35, the nation boasts a sizable pool of youthful, educated laborers. Because of its favorable demographics and low labor costs, it is a desirable location for clothing makers.
Vietnam's textile and garment sector has grown significantly, yet there are still issues that must be resolved if it is to continue growing. The growing cost of labor is a significant issue as the nation's economy expands and wages rise. As a result, manufacturing processes are now more automated and technologically advanced, requiring more financial outlays.
The apparel and textile industry in Vietnam is highly competitive, with both domestic and international players vying for market share. Some of the key players in the market include Vinatex, Viet Tien Garment Corporation, and Garment 10 Corporation. These companies have a strong presence in the local market and also export their products globally to countries such as the United States, Japan, and Europe.
The Vietnamese government has played a crucial role in supporting the growth of the apparel and textile industry. It has implemented policies that promote foreign investment, provide incentives for businesses, and improve infrastructure and logistics capabilities. The government has also signed various trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA), which have opened up new markets for Vietnamese textile exports.
Vietnam's garment and textile industry appears to have a bright future because to its supportive government, competent workforce, and business-friendly climate. It is anticipated that the business will continue to grow in the upcoming years due to rising consumer demand for goods that are produced sustainably and ethically. In order to increase productivity and cut expenses, there will also be a stronger emphasis on automating and integrating technology into production processes. Vietnam is positioned to become into a significant player in the global apparel market in the years to come as it continues to establish itself as a top exporter of clothing. All things considered, enterprises wishing to enter or increase their position in this vibrant industry will find plenty of opportunity in Vietnam's garment and textile machinery market.
According to Dhaval, Research Manager, 6Wresearch, The weaving machine segment is experiencing high demand in the Vietnamese apparel and textile machinery market. This can be attributed to the increase in production of woven garments, which are popular among consumers for their durability and versatility. With the growing demand for woven products, there is an increasing need for advanced and efficient weaving machines, making this segment a key driver of growth in the market. So if you are looking to invest in the Vietnamese apparel and textile machinery industry, focusing on weaving machines could be a profitable decision. Overall, it is important to closely monitor market trends and consumer preferences to identify other potential segments with high growth potential.
The clothing industry is the segment that is growing in demand in the Vietnamese apparel and textile machinery market. As Vietnam's garment exports continue to rise, driven by increasing demand from international markets, there is a corresponding increase in demand for machinery used in the production of clothing items. This includes sewing machines, cutting machines, and finishing equipment. With Vietnam being one of the world's largest exporters of garments, this segment is expected to see sustained growth in the coming years. Businesses looking to enter or expand their presence in this market should consider investing in machinery specifically designed for clothing production.
Cotton is the raw material type that is currently in high demand in the Vietnamese apparel and textile machinery market. This is due to its widespread use in the production of garments, particularly t-shirts, which are a major export product for Vietnam. As the country aims to increase its self-sufficiency in cotton production, there will be an even greater need for advanced machinery to process this raw material efficiently. Investing in machinery specifically designed for cotton processing can therefore be a lucrative opportunity for businesses operating in this market. Other raw materials such as wool and cellulosic fibers also have potential for growth, as consumer demand shifts towards sustainable and eco-friendly materials.
The Vietnam Apparel & Textile Machinery Market report provides a detailed analysis of the following market segments
Table of Contents |
1. Executive Summary |
2. Introduction |
2.1. Key Highlights of the Report |
2.2. Report Description |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Vietnam Apparel & Textile Machinery Market Overview |
3.1. Vietnam Country Macro Economic Indicators |
3.2. Vietnam Apparel & Textile Machinery Market Revenues & Volume, 2021 & 2031F |
3.3. Vietnam Apparel & Textile Machinery Market - Industry Life Cycle |
3.4. Vietnam Apparel & Textile Machinery Market - Porter's Five Forces |
3.5. Vietnam Apparel & Textile Machinery Market Revenues & Volume Share, By Machine Types, 2021 & 2031F |
3.6. Vietnam Apparel & Textile Machinery Market Revenues & Volume Share, By Applications, 2021 & 2031F |
3.7. Vietnam Apparel & Textile Machinery Market Revenues & Volume Share, By Raw Material Types, 2021 & 2031F |
4. Vietnam Apparel & Textile Machinery Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Vietnam Apparel & Textile Machinery Market Trends |
6. Vietnam Apparel & Textile Machinery Market, By Types |
6.1. Vietnam Apparel & Textile Machinery Market, By Machine Types |
6.1.1 Overview and Analysis |
6.1.2. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Machine Types, 2021 - 2031F |
6.1.3. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Spinning Machine, 2021 - 2031F |
6.1.4. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Weaving Machine, 2021 - 2031F |
6.1.5. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Knitting Machine, 2021 - 2031F |
6.1.6. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Texturing Machine , 2021 - 2031F |
6.2. Vietnam Apparel & Textile Machinery Market, By Applications |
6.2.1. Overview and Analysis |
6.2.2. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Textile Industry, 2021 - 2031F |
6.2.3. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Clothing Industry, 2021 - 2031F |
6.3. Vietnam Apparel & Textile Machinery Market, By Raw Material Types |
6.3.1. Overview and Analysis |
6.3.2. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Wool, 2021 - 2031F |
6.3.3 Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Cotton, 2021 - 2031F |
6.3.4. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Cellulosic, 2021 - 2031F |
6.3.5. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Polypropylene, 2021 - 2031F |
6.3.6. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Acrylic, 2021 - 2031F |
6.3.7. Vietnam Apparel & Textile Machinery Market Revenues & Volume, By Others, 2021 - 2031F |
7. Vietnam Apparel & Textile Machinery Market Import-Export Trade Statistics |
7.1. Vietnam Apparel & Textile Machinery Market Export to Major Countries |
7.2. Vietnam Apparel & Textile Machinery Market Imports from Major Countries |
8. Vietnam Apparel & Textile Machinery Market Key Performance Indicators |
9. Vietnam Apparel & Textile Machinery Market - Opportunity Assessment |
9.1. Vietnam Apparel & Textile Machinery Market Opportunity Assessment, By Machine Types, 2021 & 2031F |
9.2. Vietnam Apparel & Textile Machinery Market Opportunity Assessment, By Applications, 2021 & 2031F |
9.3. Vietnam Apparel & Textile Machinery Market Opportunity Assessment, By Raw Material Types, 2021 & 2031F |
10. Vietnam Apparel & Textile Machinery Market - Competitive Landscape |
10.1. Vietnam Apparel & Textile Machinery Market Revenue Share, By Companies, 2024 |
10.2. Vietnam Apparel & Textile Machinery Market Competitive Benchmarking, By Operating and Technical Parameters |
11. Company Profiles |
12. Recommendations |
13. Disclaimer |