During the projected period, the market for assembly trays is anticipated to grow at a robust CAGR of 23%. The market for assembly trays is expected to grow from its present value of US$ 2.2 billion in 2022 to US$ 21.45 billion by 2032.
The low-profile design of assembly trays, which is easily compatible with conveyor conveyance, has increased sales.
Assembly trays are anticipated to gain market share due to their increased dimensional stability and light weight, which makes them easy to handle.
The analysis clarifies the elements boosting assembly tray sales and, consequently, the potential for market participants. However, the assembly trays industry also confronts several obstacles that could prevent it from attaining its potential.
Assembly Trays Market: Overview
Assembly trays are also known as conveyor trays. Assembly trays feature a low profile design that can readily accommodates conveyor transport and assembly operations for wide range end use industries. Assembly trays offers dimensional stability and are light weight which ensures ease of handling. Features such as grease resistant and high melting point creates opportunity for end users from electronics and automotive industries.
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Progressive demand in the Electrical & Electronic industries to proliferate the market growth
Most electrical products get spoilt due to the generation of static electricity in them. It is also noticed that around 33% of electrical devices are damaged due to the absence of suitable packaging solutions. Increasing demand for ESD assembly trays in the electrical and electronics industry drives the assembly trays market. Additionally, the semiconductor and PCB industry is witnessing significant expansion which is a prominent application for assembly trays. Assembly trays are the ideal protective packaging solution for the packaging of the ESD-prone electrical and electronics components.
High growth opportunity in the emerging markets for electronics devices is luring the demand for assembly trays
The increase in demand for conveyor trolleys in automotive and electronics industry has boosted the demand for assembly trays in the developing countries such as India, Brazil, etc. These countries, excluding China, have negligible manufacturing facilities for the production of the electronics components. Generally, these countries import electronics components such as semiconductors and PCBs for the production of these electronics devices. Companies in the emerging regions are currently focusing on the domestic production of these electronics components in order to reduce the final cost of the product.
Companies are investing heavily in backward integration at their PCBs in-house facilities. There has been a substantial rise in the number of manufacturers of these components in recent years. Therefore, the increase in production of these components is anticipated to boost the assembly trays market in APAC regions. This, in turn, is likely to lead to high growth opportunities for the assembly trays market in these emerging markets.
Emerging Countries to Hold Significant Share in the Assembly trays Market
On the basis of geography, the global assembly trays market is segmented into North America, South Asia, Latin America, East Asia, Europe, Middle East & Africa & Oceania. China is anticipated to represents tremendous growth in the assembly trays market due to various factors. Rapid growth in automation & electronics industry. Europe assembly trays market is expected to witness judicious growth due to matured market in Germany, France & Italy. MEA is expected to be the fastest growing markets due to the rising penetration of electrical & electronics which tends to drive assembly trays market.
Assembly Trays Market: Key Players
Some of the key players in the assembly trays market are mentioned below:
- Molded Fiber Glass Tray Company
- K. Goodwin Co.
- Impala Plastics
- W. Grainger, Inc.
- Conductive Containers, Inc.
- Desco Industries Inc.
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Assembly Trays Market: Recent Developments
Key players in the assembly trays market are focusing on expansion by acquisition & mergers. Manufacturers in the assembly trays market are also expanding their footprint in global market.
- In January 2018, Desco Industries Inc. acquired 3M’s static control business, for approximately US$ 60 Mn. Through this acquisition, the company plans to expand its ESD packaging business to the global level.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on assembly trays market segments and geographies.
Regional Analysis Includes–
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
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Assembly Trays Market: Segmentation
On the basis of product type, assembly trays can be segmented as:
- Tray with drop ends
- Tray with drop sides
On the basis of material type, assembly trays can be segmented as:
- Plastic
- Metal
- Fiber glass
- Others
On the basis of load capacity, assembly trays can be segmented as:
- Below 100 lb.
- 101 – 200 lb.
- 201 – 300 lb.
- Above 300 lb.
On the basis of end user, assembly trays can be segmented as:
- Electrical & Electronics
- Automobile
- Defense & Military
- Manufacturing
- Aerospace
- Healthcare
- Others
Reports Highlights:
- A detailed overview of parent market
- Changing market dynamics in the industry
- In-depth assembly trays market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on assembly trays market performance
- Must-have information for players to sustain and enhance their market footprint
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