Global Spinning Machine business is on boom and expect to increase 5.5% CAGR

According to a ResearchAndMarkets.com study, the global market for spinning machines is expected to grow at a CAGR of 5.5% to $7.3 billion by 2027. Ring Spinning, one of its segments, is expected to grow at a 5.6 percent CAGR and reach $3.1 billion by the end of the analysis period, while Rotor Spinning is expected to grow at a 5.8 percent CAGR over the next seven years. China, the second largest world economy, is predicted to expand to $1.5 billion at CAGR by 8.4 per cent by 2027. Other remarkable geographical markets such as Japan and Canada are expected to grow by 3% and 5% from 2020 to 2027, respectively. Germany is projected to grow by around 3.5% CAGR in Europe.