Packaging Automation Market is anticipated to reach USD 61.2 billion globally by

Posted by AjayDaniel in Finance on September 22nd, 2017

Packing automation is defined as a packaging of a product completed by machines or robots. It protects the product from physical damage. Packing automation machines help to lower down the cost of packaging and it helps to decrease the labor cost and minimize damages during material handling. Packing automation helps the manufacturers to deliver more products in less time.         

Market Size and Forecast

The global packaging automation market is expected to grow at a CAGR of 9.2% over the forecast period i.e. 2017-2024. Further, packaging automation market is anticipated to reach USD 61.2 billion globally by 2024. This significant growth can be attributed to the rising demand for packaging automation from food and beverages sector, healthcare sector and others. Moreover, with 28% market share in 2016, palletizing by type is the dominating segment in overall packaging automation market and it is expected to continue its dominance over the forecast period.

In terms of region, Europe is expected to dominate the global packaging automation market over the forecast period. Additionally, Europe region in 2016 accounted for the highest market share of 36% of the overall packaging automation market. Europe is anticipated to witness significant growth owing to the presence of large number of industries. The major countries witnessing the augmented demand for packaging automation include U.K. and France.

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Asia-Pacific region is the next biggest market holding the second largest market of packaging automation. Likely, Asia-Pacific is anticipated to witness significant growth owing to rapid industrialization accompanied by increasing manufacturing activities in this region during the forecast period. Furthermore, china automotive market share is expected to show considerable growth owing to rising demand for packaging automation from automotive industry. In addition to this, positive GDP figures of Asia-Pacific region are also expected to bolster the growth of packaging automation market by the end of 2024.

Latin America is also projected to show a tremendous growth over the forecast period owing to rapid urbanization. 

Market Segmentation

Our in-depth analysis segmented the global packaging automation market in the following segments:

By Function

Case Packaging

Palletizing

Labeling

Bagging

Filling

Capping

Wrapping

Others

By Product Type

Automated Packagers

Packaging Robots

Automated Conveyors and Sortation Systems

Others

By End User

Food and Beverages

Healthcare

Logistics and Warehousing

Chemical

Retail

Semiconductor and Electronics

Aerospace and Defense

Automotive

Others

Growth Drivers and Challenges

The factors driving the growth of packaging automation market include rising safety concerns among the manufacturers and growing adoption of automation packaging due to high productivity. Further, strict safety regulation is believed to bolster the growth of automation packing market. Growing start up industries and increasing adoption for the packaging automation technology in developing nations are also envisioned to bolster the growth of packaging automation market.

Moreover, increasing advanced technological developments such as autonomous robots, packaging robots, digital manufacturing and others are anticipated to be the dynamic factor behind the growth of packaging automation market. Packaging automation market is growing on back of rapid urbanization and growing industrialization. Additionally, increased concerns for labor safety and adoption of automation to ensure quality production are also anticipated to grow the demand for packaging automation over the forecast period. Moreover, lack of skilled labor and rising per capita income of developing nations is expected to foster the growth of packaging automation market.

However, high initial investment associated with the packaging automation is anticipated to dampen the growth of global packaging automation market over the forecast period. Moreover, high maintenance associated with packaging automation is expected to hamper the growth of this market.     

Key players

The major key players for packaging automation market are as follows

Schneider Electric SE 

To know more about this research, kindly visit: https://www.researchnester.com/reports/packaging-automation-market-global-demand-analysis-opportunity-outlook-2024/388

For Table of Content & Free Sample Report Contact:

Ajay Daniel     

Email: ajay.daniel@researchnester.com                                       

U.S. +1 646 586 9123

U.K. +44 203 608 5919


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Also See: Packaging Automation, Automation Market, Forecast Period, Global Packaging, Packaging, Market, Growth

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