In a recent research report by Maximize Market Research, the Overhead Travelling Cleaner (OHTC) Market is expected to surpass US $XX million by the year 2026, from US $XX million in 2019.
Overhead Travelling Cleaner (OHTC) Market trends:
OEM holds approximately 60% market share owing to increasing investment capitalism by OEMs in technological adoption and inclusion of automation in production. Moreover, a high standard of system implications with cost-cutting solutions is the key factor considered to drive the growth of the segment in the market. Moreover, precision and high accuracy provided by OEM across the globe in the textile and equipment manufacturing industry is the factor attributing growth in the market.
The aftermarket segment is expected to pose a dominant share in the market owing to the increasing no. of regional players are integrating their sales channels and targeting the small and medium manufacturing enterprises or SMEs to integrate the production capabilities and to provide the alternatives for the product in a cost-effective way.
According to Textile Wholesaler Survey, Overhead Travelling Cleaner (OHTC) Market is expected to dominate the Textile and automatic equipment manufacturing owing to increasing applications of automation and developments probed by manufacturers. Heavy integration among the manufacturers during the forecast period owing to the chain of products available in the market and flexible Overhead Travelling Cleaner (OHTC) designs along with improving standards of manufacturing are the key factors considered to drive the growth of the market. According to Sales experts, sales are expected to reach approximately 0.2 million units worldwide during the forecast period owing to rising demand for the safety of machines in the textile industries.
APAC is the dominating region in the market owing to well-established infrastructure for the textile sector and the adoption of Application based equipment manufacturing in the region. Moreover, increasing the investment of key players in the market capitalization for automatic OHTCs is the key factor considered to drive the growth of the regional market. APAC market is expected to pose as the fastest-growing region in the market owing to the rising adoption of safety systems by OEMs in the region and technological adoptions by key players in the region of China, India, and Japan. Moreover, Semi-finished goods and raw material supplies from China and India is the factor expected to drive the growth of the market during the forecast period.
Despite a huge decline in the sales of Overhead Travelling Cleaner (OHTC) during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 5%, during the tenure of 2020 – 2026.
The study is consolidated on the basis of four major segments and further into sub-segments, OHTC Type (belt driven travelling cleaners, automatic overhead travelling cleaners, weaving machines travelling cleaners, and power duct travelling cleaners), Business Type (manufacturers, distributers, wholesaler, supplier and retailer), Application (spinning frame, weaving, winding frame, speed frame, warping and simplex frame), and by Sales Channel (OEM and Aftermarket) to forecast the market value; Also includes the analysis of past market dynamics from 2016 – 2019, considering 2019 as the base year.
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key players- SARA ELGI, UNIROLS AIRTEX, NFK Textiles, Ltd., Nantong Huipei New Materials Technology Co., Mohler Machine Works Pvt. Ltd., TROPOS Machine Works, Y&R International Industries, Ltd., Fapler Marketing Technologies, GZ Jidan Electronic Co. Ltd., SIMTA, Electro-Jet, Lakshmi Precision Tools Ltd., SIEGER, AB Reiniger, MMTEX, LUWA, MOHLER.
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Overhead Travelling Cleaner (OHTC) Market.”
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