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Textile machinery sector to face a fierce internal competition

Jan '07
Textile machinery industry maintained the momentum of rapid growth in 2006, surpassing every target and reached beyond expectation.

In the past five years, the scale of textile machinery industry more than doubled in number of enterprises, sales income and production.

In 2006, the China textile machinery trade was recorded at 50 billion yuan, of which, exports amounted to US $1.2 billion and imports ranged between $3-3.5 billion, maintaining the world largest consumer market capacity of $80 billion in textile machinery.

Experts estimate that while domestic demand growth will slow down, the market capacity will basically remain unchanged this year.

In 2007, along with related policy adjustment, the situation for the development of textile machinery industry will be even more difficult. Textile machinery enterprises will face more intense competition within the industry.

Industry experts believe that the biggest challenge of textile machinery industry will come from the internal competitive pressures in 2007.

On one hand, due to the application of new control technology, the automatic, continuous, high-speed and intelligent trend of textile machinery is gradually strengthening and product structure will change.

The proportion of advanced technology and reliable performance of textile machinery products will be further increased. Those enterprises lagging behind in technology will be difficult to find foothold in textile machinery market.

On the other hand, raw materials prices of textile machinery will continue to climb higher, which will further increase production cost and produce a substantial impact on industrial profits.

Fibre2fashion, News Desk - China

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