Portland, Aug. 19, 2019 (GLOBE NEWSWIRE) -- According to the report, the global digital textile machine market generated $175.4 million in 2017 and is estimated to reach $392.3 million by 2025, growing at a CAGR of 10.4% from 2018 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Surge in consciousness towards fashion, sustainable and eco-friendly printing methods, and higher creativity and increased design flexibility drive the growth of the market. However, the harmful effects associated with digital textile printers and the never-ending competition from traditional printing methods restrict the growth. On the other hand, the high speed of producing products using printer provide lucrative opportunities for this market.
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The clothing and apparel segment accounted for more than two-fifths of the total market share in 2017 and is expected to maintain its dominance by 2025. However, the other applications segment which comprises industrial furnishing, corporate furnishing, packaging, sports, healthcare, civil defense, and automotive is estimated to project the fastest CAGR of 12.1% from 2018 to 2025. Since, digital textile printing machines possess high speed, creativity, and large color options, they are widely used for printing automotive textiles.
Based on process type, the direct-to-fabric (DTF) segment held more than half of the total market share in 2017 and will maintain its dominance throughout the forecast period. However, the direct-to-garment (DTG) segment is estimated to register the highest growth rate with a CAGR of 10.7% from 2018 to 2025.
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Asia-Pacific would grow at the fastest CAGR of 12.9% from 2018 to 2025. Increase in consciousness towards the latest trends has fueled the need for varied styles and multicolored designs, thereby driving the demand for digitally printed textile printing machines in the region. However, Europe contributed more than one-third of the total share in 2017 and is estimated to maintain its dominance during the forecast period. This is due to an increase in demand for digitally printed interior and household textiles in the region.
Leading market players analyzed in the research include the M&R Company, Durst Group, SPG Prints B.V., Electronics for Imaging (EFI), Inc., Seiko Epson Corporation, Sawgrass Technologies, Inc., Konica Minolta, ROQ International, Kornit Digital, and Mimaki. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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