Smart Textile Market Business Development, Top Companies, Up-to-date Trends

Smart Textile Market Global Industry Growth Factors, Market Drivers, Share, Size - Forecast to 2023

Global Smart Textile Market Report: Top Manufacturers Some of the major manufacturers in the smart textile market are Wear AG (Germany), Google Inc. (U.S.), AiQ Smart Clothing (Taiwan), GENTHERM (U.S.), Clothing+ (Finland), Textronics, Inc. (U.S.), Outlast Technologies LLC (U.S.), Sensoria Inc. (U.S.), Thermosoft International Corporation (U.S.), and Ohmatex ApS (Denmark).

Global Smart Textile Market Report: Overview The global smart textiles market is projected to grow at significantly higher CAGR on account of increasing demand from major end uses such as textile, apparel, military and sports. Additionally, growing use of smart textiles on the backdrop of growing environmental concerns regarding pollution caused by synthetic fiber and textile industry. Increasing awareness about the benefits of natural fiber on the human health as well as on the environment, rising standard of living, growing population are some of the prominent factors driving growth of the market. Additionally, Smart Textiles industry growth typically follows the growth of these key end markets.

A fuel cell is a kind of battery which generates electricity from an electrochemical reaction. It uses an external supply which works continuously as long as it is supplied hydrogen and oxygen. In the process of oxidation, hydrogen by making chemical reaction with oxygen and release water which is used in the process where electrons is released and hence produce electric current. There are various types of fuel cells such as Proton exchange membrane (PEM), Solid oxide fuel cells (SOFC), among others.

Companies such as AFC Energy (U.K.), Heliocentris (Germany), Topsoe (Denmark) and Genport SRL (Italy) are some of the European companies manufacturing fuel cells for various applications.

Global Smart Textile Market Report: Segmentation The global smart textile market is segmented on the basis of type, application, end use industry, and region.

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On the basis of the type, the market is divided into passive smart textile, active smart textile, and very smart textile.

By the application, the market is categorized into sensing, architecture, medical, energy harvest, thermo-electricity, and others.

Based on the end use industry, the global smart textile market is classified into military & defense, building & construction, automotive, textile, medical, sports, and others.

Global Smart Textile Market Report: Regional Analysis The global smart textile market is geographically spanned across five major regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

North America Region: North America is the second most significant region, in terms of the growth rate, in the global smart textile market. The U.S. is the largest contributor to the regional market on account of considerable presence of well-established and leading end use industries such as aerospace & defense, and marine.

Asia Pacific Region: Among them, Asia Pacific is projected to grow at the highest CAGR due to the surging demand from automotive, defense and sports industry, along with the building & construction industry.

The major market in this region are India, China, South Korea, and Japan.

Europe Region: Europe is also an important region in the global smart textile market. The leading markets in this region are the U.K., Germany, France, and Italy, wherein the demand for smart textiles is mainly fetched by the automobile industry.

Latin America Region: In the recent years, Latin America is witnessing a rapid industrialization and pacifying political and economic conditions in Brazil and Colombia.

Middle East & Africa Region: Lastly, the Middle East & Africa is also anticipated to gain a momentum on the backdrop of increasing demand from construction and automotive industry.