According to FMI, the size of the global pallet banding machines market is anticipated to increase from US$ 2921.0 Mn in 2022 to US$ 4704.7 Mn by 2032. A few of the major factors driving the growth of the pallet banding machine market are the rapidly expanding packaging industry, increasing need for sophisticated packaging solutions, and advances in pallet banding machines.
Pallet banding machines are used to freight and transport heavy, bulky items since they guarantee the parcel’s security throughout transportation. Pallet banding machines are utilised by various types of manufacturers, from small enterprises with modest shipping and packing requirements to mass production companies with substantial packaging requirements.
There are three different kinds of pallet banding machines: mobile pallet banding machines, semi-automatic pallet banding machines, and fully automated pallet banding machines. Due to growing end user preferences for semi-automatic machines, semi-automatic pallet banding machine demand is expected to exceed other machine types.
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Due to growing end-use industries like food & beverage, pharmaceuticals, consumer goods, shipping & logistics, etc., the pallet banding machine market will expand steadily over the anticipated time frame.
Similar to this, rising worries about preventing product damage during transit are anticipated to spur market expansion for pallet banding machines in the next ten years.
Key Takeaways from Global Pallet Banding Machine Market
- By machine type, semi-automatic pallet banding machines are expected to increase 1.7 times the current market sales during the forecast period.
- Based on end use, the food & beverages segment is expected to grow at 4.5% CAGR during the forecast period (2022 and 2032), holding around 48% of the market share in 2032.
- North America is expected to remain the most dominant market for pallet banding machines, growing at a CAGR of 5.7% through 2032.
- The U.S. is set to hold around ~92% share of the North American pallet banding machine market in 2022.
- The pallet banding machine in India is likely to grow at a CAGR of 8.6% during the forecast period.
“Automatic pallet banding machines are cost-effective, save time and do work without much effort. Manufacturers are investing more in automatic pallet banding machines to achieve production efficiency and reduce the manual efforts” – comments FMI analyst
“The Growing Food & Beverage Industry is Fuelling the Demand for Pallet Banding Machines”
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The increasing importance of banding to protect food & beverage products has become crucial. Pallet banding is important to maintain the quality and usability of goods during the transportation of food commodities.
Food and beverages require extra protection to prevent spoilage and contamination and proper banding with the help of a pallet banding machine protects the food during transportation. Use of pallet banding machines in the food and beverage industry includes meat and fish packaging, cardboard boxes of wraps and fries, frozen products at freezers and cold stores, etc.
The use of pallet banding machines that provide a simple and cost-effective method for food and beverage packaging while increasing their durability is contributing to the market growth. Therefore, the growing food and beverage industry will continue to fuel the demand for pallet banding machines during the assessment period.
Who is Winning?
Some of the leading pallet banding machine manufacturers include Signode Packaging Systems Corporation, ISG PACK, FEIFER, TransPak, Cyklop International, Reisopack, Vestil Manufacturing Corp., Sorma Group, The Plastic Strapping Company Ltd, Qingdao Ausense Packing Equipment Co.,Ltd, Allstrap Steel & Poly Strapping Systems LLC, Shenzhen Henno Packaging Technology Co., Ltd, Mosca GmbH, Propel Packaging Technology Limited, Strapack, Inc., Jia-in Industry Co., Ltd., W rent, s. r. o., Plasticband, S.A., ErgoPack, and Jining Myway Machinery Co., Ltd.
These key players are continuously upgrading their products to make them highly efficient. Besides this, they are establishing alliances and partnerships with end users to increase their revenue share.
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Pallet Banding Machine Market by Category
By Machine Type:
- Fully-Automatic Pallet Banding Machine
- Semi-Automatic Pallet Banding Machine
- Mobile Pallet Banding Machine
By Banding Type:
- Horizontal Banding
- Vertical Banding
By Speed:
- Less than 20 pallets/hour
- 20-30 pallets/hour
- 30-40 pallets/hour
- Above 40 pallets/hour
By End Use:
- Food & Beverages
- Pharmaceutical
- Consumer Product
- Shipping & Logistics
- Automotive
- Textile and Handcraft
- Building & Construction
- Others (Chemical, Agriculture and Allied Industry, etc.)
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