PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515517
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515517
The Braiding Machine Market size was valued at USD 612.13 million in 2023, expanding at a CAGR of 2.5% from 2024 to 2032.
The Braiding Machine Market involves the manufacturing and distribution of machines used for braiding various materials, characterized by their ability to intricately weave fibers or wires. This market is driven by increasing demand across industries like automotive, aerospace, and textiles for enhanced product durability and strength. However, challenges such as high initial investment costs and complexity in machine operation hinder market growth. Opportunities lie in technological advancements, such as automation and digitalization, which improve production efficiency and reduce operational costs, thereby expanding market potential in emerging economies and niche applications.
Braiding Machine Market- Market Dynamics
Rising Demand from Automotive, Aerospace, and Textile Sectors Fuels Braiding Machine Market Growth
The automotive sector is a significant driver of global economic activity, with production and sales impacting various industries. For instance, the European Automobile Manufacturers Association (ACEA) notes that the automotive sector accounts for about 6.8% of the EU's GDP, showcasing its economic impact. The shift towards electric vehicles (EVs) is particularly notable, with countries like Norway leading the charge, where EVs accounted for 54% of all new car sales in 2020, according to the Norwegian Road Federation. Additionally, regulatory initiatives such as emissions standards and safety regulations influence industry practices, prompting automakers to adopt advanced manufacturing technologies and materials like those produced using braiding machines for enhanced efficiency and performance.
Braiding Machine Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 2.5% over the forecast period (2024-2032)
Based on Type segmentation, Horizontal Braiding Machines were predicted to show maximum market share in the year 2023
Based on Material Type segmentation, Synthetic Fiber was the leading type in 2023
Based on Technology segmentation, CNC was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Braiding Machine Market is segmented based on Type, Material Type, Technology, Application, and Region.
The market is divided into four categories based on Type: Horizontal, Vertical, Flat, and Round Braiding Machines. Horizontal Braiding Machines lead the market due to their versatility and efficiency, followed by Vertical, Flat, and Round Braiding Machines.
The market is divided into three categories based on Material Type: Natural Fiber, Synthetic Fiber, and Metal. Synthetic Fiber leading due to its widespread use in various industries, followed by Natural Fiber and Metal for their specialized applications.
Braiding Machine Market- Geographical Insights
In North America, strong demand from the automotive and aerospace sectors, supported by significant investments in manufacturing technologies, drives market growth. Europe, with its robust automotive industry and focus on high-quality textile production, also sees substantial market development, particularly in countries like Germany and Italy. The Asia-Pacific region, led by China and India, is experiencing rapid expansion due to booming industrialization, large-scale automotive manufacturing, and increasing infrastructure projects. Additionally, the growing medical device industry in these countries fuels the demand for precise braiding machines. In contrast, the Middle East and Africa show moderate growth, driven by emerging industrial sectors and infrastructure development projects. Latin America, with improving economic conditions and investments in the automotive and aerospace industries, also contributes to the market's overall expansion.
Leading companies like Mayer & Cie GmbH & Co. KG, Steeger USA, and Cobra Braiding Machinery dominate the market with advanced technology and extensive product portfolios. These companies focus on innovation, quality, and expanding their product lines to cater to diverse industrial needs. Strategic initiatives such as mergers, acquisitions, and partnerships are common, aiming to enhance market presence and technological capabilities. For example, Mayer & Cie's continuous investment in R&D enables the development of high-performance braiding machines, while Steeger USA's collaborations with automotive giants bolster its market position. Regional players, particularly in Asia-Pacific, also play a significant role, offering cost-effective and customized solutions to local markets. The entry of new players and advancements in automation and digitalization further intensify competition, driving market growth and evolution.
In March 2020, Kyang Yhe, a leading manufacturer, held a new product launch event featuring its latest high-speed braiding machine for the ropes industry.
In September 2019, AP Technology launched the 864 Carrier Braiding Machine, designed for high-volume production of composite components. The machine features advanced braiding technology and improved efficiency for aerospace, automotive, and other industries.
GLOBAL BRAIDING MACHINE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Braiding Machine Co., Ltd.
CeraTex Corporation
Cobra Braiding Machinery Ltd.
Herzog Maschinenfabrik GmbH & Co. KG
Magnum Venus Products, Inc.
Mayer Industries, Inc.
New England Butt Company
O.M.A. S.r.l.
Qingdao Keshengda Plastic Machinery Co., Ltd.
Shanghai Nanyang Electrical Machinery Plant
Spirka Schnellflechter GmbH
Steeger S.a.r.l.
Steeger Taiwan Co., Ltd.
Steeger USA, LLC
TAIKO Co., Ltd.
Talleres Ratera S.L.
Others