Driven by domestic demand, China's textile machinery market is poised for continued growth. While the market registered a slight decline in 2024, it is projected to expand at a CAGR of 1.3 per cent to reach 13 million units by 2035. In terms of value, the market is expected to grow at a CAGR of 3.9 per cent to $70.5 billion by 2035.

In 2024, China’s consumption of textile machinery declined by 1.6 per cent to 11 million units, ending an eight-year growth streak. However, the overall trend remains relatively stable. Revenues from the market increased by 13 per cent to $46.2 billion, despite a longer-term trend of volatility. Production also declined by 2.6 per cent to 12 million units, while production value skyrocketed to $51.2 billion.

China’s textile machinery imports contracted by 26.4 per cent to 17,000 units to $1.4 billion during the year. Japan remains China's largest supplier, followed by Germany and Belgium. Weaving machines, spinning machinery, and knitting machines are the top import categories. Import prices averaged $83,000 per unit, with variations by product type and country of origin.

Exports also decreased to 18.4 per cent to 631,000 units, valued at $2.7 billion. India, the United States, and Bangladesh are the primary export destinations. Knitting machines are the dominant export product.