Market Trends of Global Weaving Machinery Industry
This section covers the major market trends shaping the Weaving Machinery Market according to our research experts:
Technology in the Industry
Deployment of smart automation in the weaving machine are projected to create positive prospects for the growth in demand for weaving machine market. Automation is used in weaving industry specially in winding, warping, sizing also used in loom. Some processes have been completely automated. The biggest benefit of automation in weaving machineries is that is saves labor, however, it is also used to save energy and materials and also to improve quality & accuracy.
Companies operating in the fashion sectors are also highly interested in the application of blockchain technologies. The most interesting application fields in this sector were supply chain traceability and anti-counterfeiting, followed by supply chain management and cyber security.
Growing Fashion Industry Across the Globe
The global fast fashion market size is expected to grow from USD 91.23 billion in 2021 to USD 99.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%.
Increasing adoption of affordable clothes by the rising youth population drove the fast fashion market. According to the United Nations estimates of the world's youth population, in 2019 the youth population totaled 1.2 billion and it's projected to grow by 7.9 percent to 1.3 million by 2030. Youth population is attracted to unique, trendy and affordable clothes. The apparel manufacturing companies are therefore focusing on bringing fashion clothes from the most recent fashion trends presented in fashion week. The growing preference for affordable fast fashion clothes by increasing youth population boosted the fast fashion market.
Virtual and augmented reality is being used by online and offline retailers in the fast fashion market. The use of virtual or augmented reality in the fast fashion market is to fill the gap between online and offline channels. These technologies enable the customer to try the product and see how it looks when they try the clothes or make-up on them by using virtual reality mirrors or cameras in their smartphones.
