The global packaging automation market is projected to expand while riding on the rising need to reduce storage and packaging cost, maintain packaging quality, and improve labor productivity. The growing trend of automation in the packaging industry could also highlight the global packaging automation market. On the other hand, safety regulations in profit-making industries such as food and beverage and healthcare are foreseen to augment the demand in the global packaging automation market. Manufacturers are adopting applications with automated reporting features to adhere to safety regulations in their respective industries.
The global packaging automation market is envisaged to post a 9.7% CAGR during the forecast period 2017-2025 to achieve a valuation of US$69.73 bn by the end of 2025. In 2016, the global packaging automation market was valued at a US$31.12 bn.
By industry, the global packaging automation market is classified into automotive, electronics, retail, healthcare, food and beverage, logistics, and other segments. Among these, food and beverage is prognosticated to account for a king’s share of the global packaging automation market during the course of the forecast period. In 2016, it secured a 24.3% of the total share of the global packaging automation market. High level of competition between food and beverage businesses has drastically raised the demand for automation in the industry. This is expected to bode well for the growth of the food and beverage segment in the global packaging automation market.
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With respect to type, the global packaging automation market is segregated into automated conveyors, automated packagers, and packaging robots. Among these, packaging robots are foretold to rank higher in the global packaging automation market in terms of market share.
On the basis of application, the global packaging automation market is bifurcated into wrapping, capping, filling, labeling, palletizing, and other segments. In 2016, palletizing showed a dominating rise in the global packaging automation market as it collected a 27.0% share. Packaging automation is becoming a whole lot easier due to the move from conventional to hybrid palletizers.
Increasing Number of Remunerative Industries Helps Europe to Take Command of Market
From a geographical standpoint, the global packaging automation market is envisaged to find Europe taking hold of a colossal share in the foreseeable future. The region bagged a 37.0% share of the global packaging automation market in 2016. Europe banks on the presence of a significant count of industries operating in the region. Asia Pacific could closely follow Europe in terms of market share. Furthermore, North America is envisioned to tread upon the heels of Asia Pacific.
On the basis of industries, the market is bifurcated into logistics, food and beverages, healthcare, retail, electronics, automotive among others. The food and beverage segment accounted for the highest revenue share in 2016. Health care segment is one of the fastest growing market in the global packaging automation market. The packaging automation market is bifurcated into six segments based on the applications. They are palletizing, labeling, filling, capping, wrapping among others.
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Among these six application segments, palletizing segment held highest market revenue share during the forecast period. Based on types, the market is bifurcated into packaging robot, automated packagers and automated conveyors. The packaging robot segment accounted for the highest revenue share during the forecast period. Based on the region is segregated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Europe accounted for the highest market revenue followed by Asia Pacific, North America, Middle East and Africa and Latin America.
Companies Mentioned in Report
Some of the principal players in the global packaging automation market are Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), ABB Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Schneider Electric SE (France), Automated Packaging Systems, Inc. (U.S.), Emerson Electric Co. (U.S.), Beumer Group GmbH & Co., Kg (Germany), Swisslog Holding AG (Switzerland), and Kollmorgen (U.S.)among others.
