London, April 15, 2024 (GLOBE NEWSWIRE) -- Global strapping machine market, valued at approximately US$5.1 Bn in 2022, is anticipated to witness robust growth due to the expanding eCommerce industry and the rising demand for safe, secure, and efficient packaging solutions. The need for reliable packaging across various industries such as logistics, automotive, food and beverages, and pharmaceuticals further fuels the demand for strapping machines.
As businesses aim to enhance operational efficiency and reduce waste, the adoption of advanced strapping technology is becoming more widespread. The market is projected to expand at a CAGR of over 4.8% from 2023 to 2030, reaching around US$7.1 Bn by the end of the period. Key market segments such as semi-automatic and automatic strapping machines, along with significant regional growth across Asia Pacific, particularly in China, and India, are expected to dominate the market landscape.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$5.1 Bn | |
| Estimated Market Size in 2030 | US$7.1 Bn | |
| CAGR | 4.8% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The global strapping machine market is set for a significant upsurge, driven by growing demand for efficient packaging solutions across industries such as logistics, eCommerce, and manufacturing. According to a recent report from Fairfield Market Research, the market is projected to exhibit strong growth in the coming years.
Robust market expansion is attributed to the expanding eCommerce industry, and the rising demand for safe, secure, and efficient packaging solutions. The need for reliable packaging across various industries such as logistics, automotive, food and beverage, and pharmaceuticals further fuels the demand for strapping machines.
As businesses aim to enhance operational efficiency and reduce waste, the adoption of advanced strapping technology is becoming more widespread. "The increasing demand for efficient and secure packaging solutions across various industries is propelling the strapping machine market towards robust growth," states an analyst from Fairfield Market Research. "The growing focus on sustainability and the integration of smart technologies into strapping machines present significant opportunities for market players," adding further.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/strapping-machine-market
Key Research Insights
- Automatic and semi-automatic machines retain dominance through 2030.
- The PP segment is expected to dominate the market by material, while PET straps are also gaining traction.
- Logistics and eCommerce sectors continue to drive demand for strapping machines, followed by the food and beverage and manufacturing industries.
- Carton and box packaging are the major applications, with heavy-duty and palletised goods strapping also holding a significant market share.
Insights into Segmentation Analysis
Semi-automatic and automatic strapping machines dominate the market, with the latter projected to grow at a faster pace due to increased automation across industries.
Automatic machines are experiencing increased adoption due to the need for enhanced operational efficiency and speed in high-volume operations.
By material, polypropylene (PP) remains the leading material segment due to its lightweight and cost-effective properties.
Polyester (PET) straps offer durability, and are also gaining ground.
The logistics and eCommerce industries, leading end-use industries, contribute significantly to the market demand.
As these industries expand, so does the need for efficient strapping solutions to ensure the safe transport of goods.
Carton and box packaging applications dominate the market, with strapping playing a critical role in securing and stabilizing goods during transport.
Heavy-duty and palletized goods strapping also accounts for a significant market share.
Key Report Highlights
- Growing focus on sustainability is pushing the market towards the development of eco-friendly strapping materials.
- Advancements in technology, such as the integration of IoT and AI, offer opportunities for innovative, smart strapping machines.
- Customization of strapping machines according to industry-specific needs is becoming a prominent trend.
- Expansion of the eCommerce sector, particularly in emerging markets, provides lucrative opportunities for the strapping machine market.
Insights into Regional Analysis
North America’s Leadership Prevails
Known for its advanced logistics and manufacturing industries, the region experiences consistent demand for strapping machines.
Key players in the region contribute to market growth through innovation, and product development.
With stringent regulations on packaging and waste management, Europe is focusing on sustainable strapping solutions.
Major economies like Germany, and the UK are at the forefront of market growth.
The Asia Pacific region, with its rapid industrialisation and infrastructure development, is poised to emerge as a major market for strapping machines.
Companies operating in the market should leverage these opportunities by investing in innovative, sustainable solutions to meet the evolving demands of end-user industries.
China, and India are especially experiencing rapid growth due to industrialization and infrastructural development. The thriving eCommerce and logistics sectors drive the demand for strapping machines.
Key Companies in Global Strapping Machine Market
- Dynaric, Inc.
- Mosca GmbH
- Polychem LLC
- Samuel Strapping Systems
- Signode Industrial Group LLC
- Strapack Corporation
- Transpak Equipment Corporation
- TPS UK Ltd
- Yoshida Mfg. Co. Ltd.
- Fromm Packaging Systems Inc.
Global Strapping Machine Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Product Coverage, By Material Coverage,By Application Coverage,By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/strapping-machine-market
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