According to Future Market Insights (FMI), the global pallet banding machines market is projected to increase from US$ 2,921.0 million in 2022 to US$ 4,704.7 million by 2032. The growth of the market is driven by factors such as the expanding packaging industry, the need for sophisticated packaging solutions, and advancements in pallet banding machines.
Pallet banding machines are crucial for the shipping and transportation of bulky and heavy goods, ensuring the safety of packages during transit. These machines are utilized by a wide range of manufacturers, from small businesses with limited shipping and packaging needs to large-scale production businesses.
There are three types of pallet banding machines: fully-automatic, semi-automatic, and mobile. FMI predicts that the demand for semi-automatic pallet banding machines will outpace other machine types due to increasing end-user preferences for semi-automatic equipment.
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The pallet banding machine market is expected to experience steady growth over the forecast period, driven by the rising application in sectors such as food and beverages, pharmaceuticals, consumer products, shipping and logistics, among others.
Furthermore, the growing concerns to protect products from damage during transportation will further boost the growth of the pallet banding machine market in the coming decade.
Key Takeaways from Global Pallet Banding Machine Market
• By machine type, semi-automatic pallet banding machines are expected to increase 1.7 times the current market sales during the forecast period.
• Based on end use, the food & beverages segment is expected to grow at 4.5% CAGR during the forecast period (2022 and 2032), holding around 48% of the market share in 2032.
• North America is expected to remain the most dominant market for pallet banding machines, growing at a CAGR of 5.7% through 2032.
• The U.S. is set to hold around ~92% share of the North American pallet banding machine market in 2022.
• The pallet banding machine in India is likely to grow at a CAGR of 8.6% during the forecast period.
“Automatic pallet banding machines are cost-effective, save time and do work without much effort. Manufacturers are investing more in automatic pallet banding machines to achieve production efficiency and reduce the manual efforts” – comments FMI analyst
“The Growing Food & Beverage Industry is Fuelling the Demand for Pallet Banding Machines”
The increasing importance of banding to protect food & beverage products has become crucial. Pallet banding is important to maintain the quality and usability of goods during the transportation of food commodities.
Food and beverages require extra protection to prevent spoilage and contamination and proper banding with the help of a pallet banding machine protects the food during transportation. Use of pallet banding machines in the food and beverage industry includes meat and fish packaging, cardboard boxes of wraps and fries, frozen products at freezers and cold stores, etc.
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The use of pallet banding machines that provide a simple and cost-effective method for food and beverage packaging while increasing their durability is contributing to the market growth. Therefore, the growing food and beverage industry will continue to fuel the demand for pallet banding machines during the assessment period.
Who is Winning?
Some of the leading pallet banding machine manufacturers include Signode Packaging Systems Corporation, ISG PACK, FEIFER, TransPak, Cyklop International, Reisopack, Vestil Manufacturing Corp., Sorma Group, The Plastic Strapping Company Ltd, Qingdao Ausense Packing Equipment Co.,Ltd, Allstrap Steel & Poly Strapping Systems LLC, Shenzhen Henno Packaging Technology Co., Ltd, Mosca GmbH, Propel Packaging Technology Limited, Strapack, Inc., Jia-in Industry Co., Ltd., W rent, s. r. o., Plasticband, S.A., ErgoPack, and Jining Myway Machinery Co., Ltd.
These key players are continuously upgrading their products to make them highly efficient. Besides this, they are establishing alliances and partnerships with end users to increase their revenue share.
Pallet Banding Machine Market by Category
By Machine Type:
- Fully-Automatic Pallet Banding Machine
- Semi-Automatic Pallet Banding Machine
- Mobile Pallet Banding Machine
By Banding Type:
- Horizontal Banding
- Vertical Banding
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By Speed:
- Less than 20 pallets/hour
- 20-30 pallets/hour
- 30-40 pallets/hour
- Above 40 pallets/hour
By End Use:
- Food & Beverages
- Pharmaceutical
- Consumer Product
- Shipping & Logistics
- Automotive
- Textile and Handcraft
- Building & Construction
- Others (Chemical, Agriculture and Allied Industry, etc.)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
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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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