Worldwide consumption of industrial knitting equipment is predicted to increase at a CAGR of 3.5% between 2022 and 2032. Currently, the global industrial knitting equipment market is valued at US$ 1.26 billion and is anticipated to reach US$ 1.78 billion by the end of 2032.
Demand for circular knitting equipment is increasing rapidly in the textile industry due to its ability to produce special fabrics at a high speed and of better quality.
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|Industrial Knitting Equipment Market Size (2022E)||US$ 1.26 Billion|
|Forecasted Market Value (2032F)||US$ 1.78 Billion|
|Global Market Growth Rate (2022-2032)||3.5% CAGR|
|North America Market Share (2022)||21.9%|
|Europe Market Share (2022)||24.1%|
|Key Companies Profiled||
Textile manufacturers are focusing on the new-age technology to gain more control over the design, shape, and quality of the finished products which has helped industrial knitting equipment garner popularity.
Advancements in technology and breakthroughs in multiple verticals have enabled researchers to experiment with the utility of knitting equipment in verticals other than the textile industry.
For instance :
- Riding on the idea of using knitting equipment beyond the textile industry, researchers at ETH Zurich constructed a curved textile shell over 10 feet tall, which forms a part of a five-ton concrete structure. A knitting machine converted the digitally-generated pattern into a double-layered textile structure in 36 hours.
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