In a world where efficient packaging is crucial for safe transportation and storage, the Strapping Equipment Market plays a pivotal role. This market offers a wide array of strapping tools that enhance packaging durability and reliability. From securing heavy loads to bundling fragile items, strapping equipment ensures that products remain intact throughout their journey. In this article, we’ll delve into the various facets of the Strapping Equipment Market, exploring its significance, diverse solutions, and notable industry players.
Strapping Equipment Market: Ensuring Package Integrity
Strapping equipment encompasses a range of tools designed to reinforce packaging and prevent damage during transit. These tools are widely used across industries such as logistics, manufacturing, and construction. The Strapping Equipment Market provides solutions that cater to different packaging requirements, ensuring that goods reach their destination without any compromise in quality.
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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Competitive Landscape
Leading manufacturers are aiming to expand their presence across the globe through mergers, acquisitions, and collaborations. They are also investing in research and development to improve the functionality of automatic strapping machines.
For instance:
- In February 2022, Signode Industrial Group LLC introduced new strapping equipment in the market. It is a BPT steel strapping hand tool that is light in weight and has balanced features. It is used for heavy-duty stationary and mobile applications which require high-tension force.
- In May 2021, Fromm Holding AG has developed a machine that automatically scans the product and fills it in the carton.
The Key Players:
- 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 Million 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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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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