Packaging Automation Market Rising at 9.7% CAGR; Manufacturers Adopt it for Greater Efficiency, Says TMR
October 11, 2018 --
ALBANY, New York, October 11, 2018 /PRNewswire/ --
The global packaging automation market holds out a lot of potential as consumer products manufacturers increasingly adopt automated packaging methods to cut back on labor costs. Despite holding such a solid potential few players have entered the fray owing to high entry barriers. Nonetheless, companies that have come to hold a prominent position in the global packaging automation market are Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, ABB Ltd., and Mitsubishi Electric Corporation.
Competition is strong among them in the global packaging automation market. This is because most of them are expending money on developing new and better technologies to meet various needs of end users.
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As per a report on the global packaging automation market by Transparency Market Research, it would likely rise at a high single digit CAGR of 9.7% over the forecast duration starting in 2016 and ending in 2025. At this pace, it projects the market's valuation to hit US$69.73 bn by 2025-end.
Application-wise, the global packaging automation market can be classified into labelling, palletizing, capping, filling, and wrapping. Among them, the segment of palletizing accounts for the leading share in the market. In 2016, its leading share was around 27%. Going forward, the palletizing segment is predicted to continue contributing majorly to the revenue in the overall global packaging automation market. However, there is expected to be a shift towards hybrid palletizers from the traditional ones. In addition, further honing of the technology to suit multiple requirements is also predicted to have a positive impact. Geographically, Europe holds a foremost position in the global packaging automation market. In 2016, its market was worth about US$11.51 bn.
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Packaging Automation Sees High Uptake as it Reduces Labor Costs
Packaging automation basically entails packing products leveraging machines and robots. They thwart physical damage to the products. They also bring down packaging and labor cost besides lowering damage in the process of handling materials. States the lead analyst of the TMR report, "Packaging automation enables manufacturers to prepare more products for sale in a much less time." Apart from that, progress in the packaging industry such as emergence of various printing techniques, smart packaging, robotics and machinery, automation architecture, and software systems and interfaces are also having a positive impact on the global packaging automation market.
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Food and Beverage and Ecommerce Sectors Emerge Frontrunners in Driving Demand
Some of the prominent end use industries driving revenue generation in the global packaging automation market are food and beverage, healthcare and pharmaceuticals, automotive, logistics and e-commerce, and chemicals. Among them, the e-commerce sector is generating most of the revenue in the packaging automation market. This is because of the rising popularity of the ecommerce sector in the past 10 years. The food and beverage industry is another major demand generator.
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A noticeable trend in the global packaging automation market is savvy players turning their gaze towards Asia Pacific because of the swift rise of manufacturing and consumerism in the region.
The review is based on the findings of a TMR report, titled, "Packaging Automation Market (Application - Palletizing, Labeling, Filling, Capping, and Wrapping; Types - Packaging Robot, Automated Packagers, and Automated Conveyors; Industries - Logistics, Food and Beverage, Health Care, Retail, Electronics, and Automotive) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025."
The report segments the Global Packaging Automation Market into the following:
Global Packaging Automation Market, by Application
Global Packaging Automation Market, by Type
- Packaging Robot
- Automated Packagers
- Automated Conveyors
Global Packaging Automation Market, by Industries
- Food and Beverages
- Health Care
Global Packaging Automation Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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