Strapping equipment, including bundling, banding, and pallet wrapping machines, is essential for ensuring product safety across various sectors. Reflecting this importance, the strapping equipment market is projected to grow at a CAGR of 2.30% from 2024 to 2034. According to the packaging team at Future Market Insights, the market is expected to be valued at US$ 1.7 billion by 2023. With advancements in robotics and automation, the market is anticipated to reach US$ 2.2 billion by 2034.
Strapping equipment is increasingly being adopted in sectors such as food & beverages, shipping & logistics, building and construction, and automobile to pack heavy and bulky boxes. Usually, materials such as polyester, steel or plastic are used in strapping equipment to pack the product. Polyester is used as the strongest and most rigid material for packaging.
The E-commerce sector is estimated to boost the market for the strapping equipment as it is used most frequently in it. Most industries are focussing on increasing productivity by reducing packaging time and ensuring 360-degree protection of bulk loads.
Request a Report Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15044
Competition Landscape
Signode Industrial Group LLC, Cyklop International, Dongguan Xutian Packing Machine Co. Ltd., Dynaric Inc., Fromm Holding AG, Hefei Seelong Import and Export Group Co. Ltd, Messersi Packaging Srl, Mosca GmbH, North Shore Strapping Inc., Packmaster Machinery Pvt Ltd, Polychem Corporation, Samuel, Son & Co., StraPack, Corp., Tiger Pack, Inc., TITAN Umreifungstechnik GmbH and Co. KG, Transpak Equipment Corp, VENUS HARTUNG PTY LTD, GTI Industries Inc, FELINS, ASN Packaging Pvt Ltd.
Strapping equipment help to increase strength of heavy and bulk packages during loading and unloading thus consumes less processing time. On the back of this, end user’s inclination towards automatic strapping equipment has increased in recent years.
“Growing adoption of automatic strapping equipment across the food & beverage sector, along with increasing sales of consumer electronics across the globe,” says an FMI analyst.
Key Takeaways:
- Consumption of strapping equipment in shipping and logistics industry is expected to hold 1/3rd of the total market share over the forecast period.
- The demand for automated strap machines is significantly increasing. Every 5 out of 10 strapping equipment sold are automatic strapping equipment.
- Sales of vertical strapping equipment are expected to create an incremental opportunity of US$ 658 Mn during 2022-2032.
- North America and South Asia are estimated to be lucrative markets for strapping equipment.
Ask an Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-15044
Factors Driving the Growth of the Strapping Equipment Market
- Increasing Need for Safe and Secure Packaging Solutions
In an era where global trade and e-commerce have flourished, ensuring the safety of packaged goods has become paramount. The Strapping Equipment Market addresses this need by providing robust strapping solutions that protect products from damage, tampering, and theft during transit.
- Growing Emphasis on Sustainability
With environmental concerns taking center stage, industries are actively seeking sustainable packaging alternatives. Strapping equipment manufacturers have responded by introducing eco-friendly materials and energy-efficient machinery, contributing to the market’s expansion.
- Rapid Expansion of E-commerce Sector
The booming e-commerce industry has fueled the demand for efficient packaging solutions to accommodate the rising volume of shipped goods. Strapping equipment plays a vital role in streamlining packaging operations, enhancing productivity, and minimizing transit-related risks.
- Technological Advancements and Automation
Advancements in strapping equipment technology, such as the integration of IoT (Internet of Things) and automation, have revolutionized the packaging landscape. Automated strapping machines offer higher precision, speed, and reliability, thereby driving the growth of the Strapping Equipment Market.
Strapping Equipment Market by Category
By Product Type:
- Horizontal Strapping Machine
- Vertical Strapping Machine
By Automation:
- Manual
- Semi-automatic
- Automatic
By End Use Industry:
- Shipping & logistics
- Food & Beverages
- Building & Construction
- Electrical & Electronics
- Household Appliances
- Automobile
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Before Buying, Visit for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-15044
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
