- Maypole Braiders
- Horn Gear Braider (Square Braider)
- Wardwell Rapid Braider
- Track and Column Braider
Braiding Machine Market was valued at USD 548.3 million in 2022 and is expected to grow at a CAGR of 2.6% from 2023 to 2029. The global market provides a detailed overview of the global braiding machine market, and that can be segmented by type, by configuration, by application, and by end user. By type, the global braiding machine market has been segmented Maypole Braiders, Horn Gear Braider (Square Braider), Wardwell Rapid Braider and Track and Column Braider. The Maypole Braiders segment is likely to be the largest and fastest-growing segment in terms of type. Maypole braiding machine is mostly used to produce insulation outsourcing yarn of wire and cable, fiber bundle tube, braided rope, unbreakable layer of rubber tube, etc. Based on configuration, the global braiding machine market is segmented into Horizontal Braiders and Vertical Braiders. Among these, the Horizontal Braiders segment is expected to grow at a significant rate in the global market during the forecast period 2022-2028. Based on application, the global braiding machine market is segmented into Residential and Industrial. The Industrial segment accounts for the largest share in 2021. Based on the end user, the segment has been segregated into Textile, Sporting, Automotive, Medical, Aerospace, Electrical, Marine Sector and Others. The Textile segment is expected to dominate other segments in the global braiding machine market. The global strategic alliances will drive the global braiding machine market and it is expected to maintain the trend in the upcoming years. Moreover, the rising demand for braided wires, cables in various industries will boost the global market growth in the forecasted years. Braided wires have various properties such as flexibility, abrasion resistance, and expandability which influence the adoption rate of braided materials.
Braiding Machine Market Key Developments:
In Aug 2022, Elphinstone Pty Ltd, an authorised Caterpillar Original Equipment Manufacturer (OEM) and a leading manufacturer of quality products for the global underground and surface mining industries developed new products to serve various locations.
Fastest Growing Market
Growing industrialization and urbanization and increasing demand for braiding machines are anticipated to propel the market growth over the forecast years. Moreover, the rising adoption rate of braided wires and cables is burgeoning the market growth over the forecast years.
The fastest-growing segment of the global braiding machine market is maypole braiding. It is used to produce insulation outsourcing yarn of wire and cable, fiber bundle tube, braided rope, unbreakable layer of rubber tube, etc. The various applications of maypole are driving the global market.
The rapidly growing textile and medical sector are the key opportunities in the global braiding machine market in the forecasted years.
Rising demand of braiding machines and increasing adoption of braided wires, cables are driving the global market growth. However, the high cost of raw material may hamper the global market growth in the upcoming years.