Global Digital Textile Printing Equipment Market To Reach $2,255 Mn By 2028 : Growing At A CAGR Of 14.9%
NEW YORK, March 5, 2019 -- Persistence Market Research (PMR) has released a new market study titled "Digital Textile Printing Equipment Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028".
The scope of study includes a deep-dive analysis of the global Digital Textile Printing equipment market for the next ten years.
The report on the digital textile printing equipment market evaluates the dynamics along with key macroeconomic factors.
It also discusses the trends in the global digital textile printing equipment market as well as analyses opportunities across the value chain of the digital textile printing equipment market.
The global market of digital textile printing equipment is estimated to be valued at US$ 563.0 Mn in 2018 and is further projected to grow at a value CAGR of 14.9% and attain a value of US$ 2,255.4 Mn by the end of the forecast period.
Moreover, the digital textile printing equipment market is expected to create an incremental $ opportunity of US$ 1,692.4 Mn between 2018 and 2028.
East Asia Digital Textile Printing Market to Remain Attractive With a CAGR of 20.3%
The future outlook of the digital textile printing equipment market is expected to remain lucrative, owing to the healthy growth of the textile industry in various regions. The textile industry is a prominent industry in terms of historical growth outlook.
Further, it is anticipated to grow with a similar growth pattern during the forecast period. Europe is estimated to dominate the global digital textile printing market in terms of revenue in 2018, and the trend is projected to continue throughout the forecast period. Further, the East Asia digital textile printing market is pegged to be attractive, with a CAGR of 20.3% over the forecast period.
Additionally, China, India and Bangladesh are three emerging countries in the market witnessing healthy growth in terms of investments and adoption rate of digital textile printing equipment.
Need for Mass Personalization to Drive Demand for Digital Textile Printing
Digital textile printing enables precise reproductions irrespective of design complexity.
It also allows flexibility in production setting, and optimization of economic and environmental impact.
These advantages facilitate the move from mass production to mass personalization and, in turn, are expected to propel the demand for digital textile printing equipment in the future.
Digital textile printing equipment reduce textile waste as well as power consumption. Further, water wastage and ink consumption are also reduced by the use of digital textile printing equipment.
Digital Textile Printing Equipment Market: Competitive Landscape
The global market for digital textile printing equipment is highly consolidated. Seiko Epson Corporation is a prominent player with nearly a 25% share in the global digital textile printing equipment market.