According to Future Market Insights, the strapping and banding equipment market is predicted to experience significant growth in the coming years. It is projected to reach a valuation of US$ 2.3 billion in 2022 and surpass US$ 3.7 billion by 2032. The market is expected to grow at a compound annual growth rate (CAGR) of 4.8% between 2022 and 2032, primarily driven by the increasing demand for automated packaging equipment across various industries.
Strapping and banding equipment play a crucial role in the shipping and transportation of bulky and heavy goods, ensuring the safety and security of packages during transit. Businesses of all sizes, from small enterprises with limited shipping needs to mass production companies, require strapping and banding equipment for their packaging requirements. The advantages offered by this equipment, such as enhanced packaging safety and efficiency, are driving the demand for the strapping and banding equipment market.
The market for strapping and banding equipment is expected to witness substantial growth in the forecast period, fueled by its expanding applications in industries such as food and beverages, consumer electronics, e-commerce, and others. The growing concern to protect products from damage during transportation is a significant factor driving the demand for strapping and banding equipment.
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In terms of types, strapping and banding equipment can be categorized into three types: fully-automatic, semi-automatic, and manual. Over the forecast period, the demand for fully-automatic strapping and banding equipment is expected to be higher due to the increasing automation in the packaging industry.
Overall, the strapping and banding equipment market is poised for significant growth in the coming years due to rising demand, expanding applications, and the need for automated packaging solutions across industries.
Key Takeaways from Global Strapping and Banding Equipment Market
- As per end-use industry, e-commerce is expected to hold 36% of the market share in 2032.
- Based on automation type, fully-automatic strapping and banding equipment are expected to increase 1.7 times the current market sales in the forecasted period.
- South Asia and East Asia are expected to be the largest market for strapping and banding equipment, with sales surging at a CAGR of 5.2% between 2022 and 2032.
- India is expected to lead the growth in South Asia market due to the presence of several leading manufacturing companies in the country.
- Food & beverage is expected to be the second-leading end use segment in strapping and banding equipment market.
“Automatic strapping and banding equipment are cost-effective, saves time and do work without much effort. Hence, manufacturers are investing more in automatic strapping and banding equipment to achieve production efficiency and reduce the manual efforts. They are leveraging their cutting-edge and green technology to capitalize on growing demand for safe packaging equipment from diverse industries” – comments FMI analyst
Increasing Need to Protect Products from Damage during Shipping to Create Demand
The threat of damage to goods during the transport process reduces significantly when they are accurately bound with a strapping and banding equipment. Protection of products requires pallet banding to hold, combine, fasten the goods, and stabilize. strapping and banding equipment are used to rapidly wrap large or small quantities of product to facilitate quicker transportation both to and from train or truck.
When the products are banded it improves their life expectancy of them throughout transport which helps to protect the product from getting damaged. Thus, the demand for strapping and banding equipment is rising due to the increasing need to protect products from damage during shipping.
Global Strapping and Banding Equipment Market Landscape
Signode Packaging Systems Corporation, FEIFER, TransPak, Vestil Manufacturing Corp., The Plastic Strapping Company Ltd, Allstrap Steel & Poly Strapping Systems LLC, Mosca GmbH, Strapack, Inc., W rent, s. r. o., Fromm Holding AG, FELINS, Cyclop International, Jia-in Industry Co., Ltd., Plasticband, S.A., Jining Myway Machinery Co., Ltd., ISG PACK, ESE Direct Ltd., Martin & Weissgerber Kaltband GmbH
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Global Strapping and Banding Equipment Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for strapping and banding equipment market by automation type (fully-automatic, semi-automatic, and manual), by product type (horizontal strapping and banding equipment, vertical strapping and banding equipment), by end-use (food & beverages, consumer electronics, household, e-commerce, automobile, others) across seven regions.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
Strapping and Banding Equipment Market by Category
By Automation Type:
- Fully-Automatic
- Semi-Automatic
- Manual
By Product Type:
- Horizontal Strapping and Banding Equipment
- Vertical Strapping and Banding Equipment
By End Use:
- Food & Beverages
- Consumer Electronics
- Household
- E-commerce
- Automobile
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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