The global strapping and banding equipment market has demonstrated consistent growth, with a notable compound annual growth rate (CAGR) of 3.5% during the historical period. In 2022, the market was valued at approximately USD 2,376 million. Looking ahead, the market is expected to continue its upward trajectory, with a forecasted CAGR of 4.8%, reaching an impressive valuation of USD 2,480.6 million in 2023 and USD 3,964.4 million by 2033.
This growth is driven by the increasing demand for efficient and reliable packaging solutions across multiple sectors, including logistics, manufacturing, and construction. Strapping and banding equipment play a critical role in securing heavy loads and ensuring safe transportation, making them indispensable for the smooth operation of supply chains.
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The rapid rise of e-commerce and globalization has further amplified the need for robust packaging solutions, significantly contributing to the market’s expansion. As businesses scale operations worldwide, the demand for packaging systems that guarantee product safety and efficient logistics has never been higher.
Key Takeaways from the Global Strapping and Banding Equipment Market Study Report by FMI
- North America dominates the global market, as the United States contributed to more than 20% of the global strapping and banding equipment sales in 2022.
- Through the projected period, the European market is anticipated to grow at a promising CAGR, providing greater opportunities for the regional players.
- India has grown significantly as a regional market for strapping and banding tools, with total sales reaching around USD 255.6 million by 2022. This demonstrates how crucial packaging solutions are to the changing industrial landscape of Asia Pacific countries, including China, Japan, and South East Asia.
- By 2033, the fully-automatic category could account for a sizeable 49% of the market as businesses look for cutting-edge machinery to speed up procedures. Due to their capacity to handle bigger numbers and increase operational productivity, fully automatic strapping and banding equipment are becoming increasingly popular.
Prominent Drivers of the Strapping and Banding Equipment Market
- Rising Demand for Packaging Solutions in E-Commerce
The rapid growth of the e-commerce sector has significantly increased the demand for secure and efficient packaging solutions. Strapping and banding equipment are essential for securing packages during transit, leading to higher market growth. - Increased Focus on Product Protection and Safety
As industries like manufacturing, food & beverage, and logistics continue to emphasize product protection during shipping, the need for robust strapping and banding systems has surged. These systems help prevent damage and tampering during transportation. - Technological Advancements in Automation
The integration of advanced automation in strapping and banding equipment has driven market growth. Automated systems increase efficiency, reduce labor costs, and improve consistency, making them more attractive to manufacturers and logistics companies. - Sustainability and Eco-Friendly Packaging Trends
With a growing focus on environmental sustainability, strapping and banding equipment manufacturers are offering eco-friendly solutions, such as recyclable and biodegradable materials, driving demand for more sustainable packaging options. - Expansion of the Global Logistics and Supply Chain Networks
As global trade and supply chain networks expand, the need for efficient and cost-effective packaging solutions rises. Strapping and banding equipment are integral to securing goods in international shipping, contributing to the market’s growth.
Competitive Landscape
Key market participants use a variety of marketing strategies, such as acquisitions, expansions, and alliances. Some firms also focus on developing new products to increase their market presence among clients. Recent market developments include the following:
- In July 2022, Signode Packaging Systems Corporation introduced a strapping superpower with battery-powered hand tools. With an ergonomic design, intuitive user interface, lightweight, and up to 800 cycles/charge, this tool has raised production uptime.
- In July 2020, Fromm Holding AG introduced two new strapping equipment, PS57, and PS58. These are replacements for PS56 and PS55, which are more than 17 years old equipment.
Key Players: Strapping and Banding Equipment Market
Signode Packaging Systems Corporation; FEIFER; TransPak; Vestil Manufacturing Corp.; The Plastic Strapping Company Ltd; Allstrap Steel & Poly Strapping Systems LLC; Mosca GmbH; Strapack Inc.; W rent s. r. o.; Fromm Holding AG; FELINS; Cyklop International; Jia-in Industry Co. Ltd.; Plastic band S.A.; Jining Myway Machinery Co. Ltd.; ISG PACK; ESE Direct Ltd.; Martin & Weissgerber Kaltband GmbH
Strapping and Banding Equipment Market by Category
By Automation Type:
- Fully-Automatic
- Semi-Automatic
- Manual Automation
By Product Type:
- Horizontal
- Vertical
By End Use:
- Food & Beverages
- Consumer Electronics
- Household
- E-commerce
- Automobile
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- The Middle East & Africa
- Oceania
About Future Market Insights (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.
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