Introduction
The Strapping Equipment Market plays a vital role in the packaging industry by providing robust solutions to secure goods during transportation. Strapping equipment, also known as banding or bundling equipment, ensures that products stay intact, minimizing the risk of damage and ensuring efficient shipping. This article will delve into the Strapping Equipment Market, covering its diverse aspects, from equipment types to industry trends. Let’s embark on a journey to discover how strapping equipment contributes to the smooth and secure movement of goods across various sectors.
Understanding the Strapping Equipment Market
The Strapping Equipment Market encompasses a wide range of machinery and materials designed to fasten products together using sturdy straps or bands. These straps can be made of various materials, including steel, polyester, polypropylene, and more. The market offers an array of strapping machines, tools, and accessories, each catering to different industries and packaging needs.
The strapping equipment market witnessed robust growth in 2021, reaching a valuation of US$ 1.6 billion with a year-on-year growth of 4%. Projections indicate a steady rise in sales at a CAGR of 4.6%, aiming to surpass US$ 2.7 billion by 2032.
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Industry Trends and Innovations
The Strapping Equipment Market is continually evolving, driven by technological advancements and changing consumer demands. Here are some notable industry trends and innovations:
- Eco-Friendly Strapping Materials: With growing environmental concerns, manufacturers are increasingly focusing on eco-friendly strapping materials like recycled plastics and biodegradable options.
- Smart Strapping Machines: Integration of IoT technology in strapping machines allows real-time monitoring, predictive maintenance, and data-driven insights for optimized performance.
- Automated Customization: Strapping machines with advanced software can adapt to varying package sizes and shapes, offering tailored strapping solutions for different products.
- Robotics in Packaging: Robotics and automation are becoming more prevalent in the packaging industry, including strapping processes, leading to improved efficiency and reduced human error.
- Lightweight and High-Strength Straps: Research and development efforts are focused on producing straps that are lightweight yet possess excellent tensile strength, meeting the demands of various industries.
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.
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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
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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.
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