Global Spinning Machines Market to Reach $8.9 Billion by 2030
The global market for Spinning Machines estimated at US$5.5 Billion in the year 2023, is expected to reach US$8.9 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2023-2030. Ring Spinning Machines, one of the segments analyzed in the report, is expected to record a 7.1% CAGR and reach US$3.8 Billion by the end of the analysis period. Growth in the Rotor Spinning Machines segment is estimated at 7.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 10.4% CAGR
The Spinning Machines market in the U.S. is estimated at US$1.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2030 trailing a CAGR of 10.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2030.
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