The global shuttleless loom market was valued at USD 3,250.8 Mn in 2020 and is projected to reach a market value of USD 4,087.8 Mn by 2028 expanding at a CAGR of 3.1%. In terms of volume, the global shuttleless loom market was 1,41,732.4 units in 2020 and is projected to reach a market volume of 1,69,636.9 units by 2028. A shuttleless loom is used for weaving fabrics at a high production rate than conventional looms and use diverse methods of weft insertion. High demand for apparels is one of the main factors contributing to this market during the forecast period.
Shuttleless looms have certain advantages associated with them such as a fast production rate, reduction of costs, easy operation and handling, less noise, big flanges, low accident percentage, easy maintenance, reduction of workload on workers, and highly suitable for high scale production. These benefits associated with shuttleless looms are expected to propel the market during the forecast period, 2021-2028.
Cotton is one of the most widely used natural fibers in textiles across the globe. The fiber represents the primary source of revenue for more than a billion people. It accounted for roughly one-third of the total fibers produced worldwide according to International Institute for Sustainable Development. This high demand for cotton is expected to boost the global shuttleless loom market during the forecast period.
Synthetic fibers such as nylon and polyester among others, contribute heavily to microplastic pollution in the environment. These fibers aren’t biodegradable, lead to industrial water pollution, and emit nitrous oxide. Currently, there is a strong emphasis on preventing catastrophes that occur as a result of environmental damage. More than 195 countries came together in an effort to tackle this situation under the Paris Agreement of 2015. This has reduced the demand for synthetic fibers and is expected to act as a restraining factor of the global shuttleless loom market.
As of 2018, according to the International Textile Manufacturers Federation (ITMF), there were about 2.8 million looms installed across the globe of which a whopping 46% were shuttle looms. Prevalence of shuttleless looms is not as high as it could be, given the several advantages over conventional shuttle looms. A combination of high costs of shuttleless looms, lack of awareness, and the presence of a deep rooted tradition of using traditional looms in countries such as India and Bangladesh is hampering the growth of the market.
Currently, there is a rising trend of online shopping. Presence of online behemoths such as Amazon and Walmart among several others along with factors such as increasing access to internet, easy interface, online payment options, increasing awareness about online shopping, growing global population, rising disposable income, and increasing development & urbanization are anticipated to act as opportunities for the global shuttleless loom market during the forecast period.
Due to the extreme importance of shuttleless loom in the textile industry, the governments of several countries proposed a variety of steps to improve it. Textile Workers Rehabilitation Fund Scheme (TWRFS), Technology Upgradation Fund Scheme (TUFS), and Pradhan Mantri Credit Scheme for Powerloom Weavers are a few schemes by the government of India to support the shuttleless loom market in the country.
Several small countries such as Bangladesh, Turkey, Sri Lanka, Pakistan, and others took advantage of their duty-free access to huge markets by dramatically growing their textile and clothing exports. Bangladesh is one such country that successfully utilized its 2001 trade agreement with the EU. This is expected to drive the market in the coming years.
In terms of types, the global shuttleless loom market is segmented into rapier, air jet loom, water jet loom, and gripper/projectile loom. The air jet loom segment held a significant share of the global shuttleless loom market and this trend is expected continue during the forecast period, due to its high popularity among customers. The rapier segment held a substantial share of the market and is anticipated to account for a considerable share of the market during the forecast period due to the positive features associated with rapier looms.
In terms of applications, the global shuttleless loom market is classified into natural fiber industry and synthetic fiber industry. The synthetic fiber industry accounted for a key share of the market in 2020 and is projected to hold a sizeable share of the market during the forecast period, owing to the benefits associated with synthetic fibers.
Based on regions, the global shuttleless loom market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held a key share of the market in 2020 and this trend is anticipated to perist during the forecast period. In terms of value, the region constituted 72.7% share of the global market in 2020. Asia Pacific held such a large share of the market, due to the presence of textile manufacturing & exporting hubs such as China and India.
Key Segments Covered
Key Market Players Profiled in the Report
Key players in the global shuttleless loom market include Picanol Group, Itema S.p.A., Toyota Industries Corporation, JINGWEI Textile Machinery Co.,Ltd, and Lindauer DORNIER GmbH. These companies are considered as key producers of shuttleless looms based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
According to Growth Market Reports, the Shuttleless loom market is likely to register a CAGR of 9.8% during period 2021-2028, with an anticipated valuation of USD 1,06,418.3 thousand by the end of 2027.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the Shuttleless loom market is available in final report.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The Shuttleless loom market is expected to hold a significant share of the market during the forecast period due to the several advantages of shuttleless looms over conventional looms.
The demand for Shuttleless loom is mainly driven from demand from the textile industry.
The market witnessed a decline with slow increase in terms of demand during 2019-2020 owing to the negative impact of COVID-19 pandemic on the shuttleless loom market.
The base year considered for the Shuttleless loom market report is 2020. The complete analysis period is 2016 to 2030, wherein, the timeframe 2016-2019 refers to the historic year, and the forecast is provided from 2021 to 2030.
Major Manufactures include Picanol Group, Itema S.p.A., Toyota Industries Corporation, JINGWEI Textile Machinery Co.,Ltd, and Lindauer DORNIER GmbH.
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