The metal banding machine market is anticipated to expand its roots at an average CAGR of 4.0% between 2023 and 2033. The market is expected to have a market share of US$ 1,050.7 million by 2033, while it is likely to be valued at US$ 709.6 million in 2023
Increasing adoption of modernized solutions in a wide range of industries is expected to drive the market. Surging demand for horizontal and vertical metal strapping tools to reduce manual tasks and lower the overall time and cost is also expected to augment growth.
In addition to that, fastening the cargo during transportation and shipping may lead to enhanced security of commodities till they reach the desired destination. Horizontal and vertical banding machines are primarily used in the logistics industry, which has gained traction owing to the expansion of the e-commerce industry. These factors are anticipated to augur well for the global market.
Get Your Sample Report – Drive Business Success! https://www.futuremarketinsights.com/reports/sample/rep-gb-15398
Key Points
- The United States market leads the metal banding machine market in terms of market share in North America. The United States region held a market share of 18.2% in 2022. The growth in this region is attributed to expanding industrial and production space, new research and development facilities, and the brand’s investment in machines to cut operational costs. The North American region held a market share of 19.8% in 2022.
- The German market is another important market in the European region. The market held a market share of 5.3% in 2022. The growth is attributed to the large automobile production units, aircraft manufacturing facilities, and industrial automation. The European region held a market share of 26.9% in 2022.
- The Indian metal banding machine market thrives at a CAGR of 5.5% between 2023 and 2033. The growth is attributed to the large industrial space, enhanced exports, and metal-based research facilities.
- The Chinese market also thrives at a CAGR of 4.6% during the forecast period. The flourishing growth is caused by it being Asia’s leader in terms of product manufacturing.
- Based on automation type, the automatic segment leads the market, holding a share of 48.8% in 2022.
- Based on the orientation type, the horizontal segment leads the market, as it held a market share of 61.0% in 2022.
Competitive Landscape
The key vendors focus on higher efficiency, productivity, and flexibility. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
Signode Industrial Group LLC has introduced its new strapping systems that cover a wide range of strapping operations from plastic and steel consumables.
Cyklop International has introduced the automatic banding machine named BM-105. The machine has a capacity of 90 packs per minute and is flexible.
Request Customization of Report! https://www.futuremarketinsights.com/customization-available/rep-gb-15398
Key Segments Covered
By Automation:
- Manual
- Semi-automatic
- Automatic
By Orientation:
- Horizontal Metal Banding Machine
- Vertical Metal Banding Machine
Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
