31-Aug-2020 | Zion Market Research
As per Zion Marker Research analysts, the global strapping machine market is projected to attain USD 7.24 billion by the end of 2026, augmenting at a CAGR of over 5% during the forecast period 2020–2026. The packaging has become a vital aspect to attract customers. Companies nowadays are spending a massive amount on packaging excluding the product itself, as even if the product is of good quality but is not packaged suitably, it might be unappealing for the customer. Likewise, a strapping machine is a critical constituent for the packaging industry since these machines are utilized to place a strap or band around the packages for proper grip & provide closure to the packages. The choice to pick a strapping machine is quite critical for packaging applications since if the products are not packed properly it can harm the product at the time of transit.
Some of the key players in the market are Strapex, Transpak Equipment Corp., Signode Packaging Systems Corporation, Polychem Corporation, Dynaric, Inc., Australian Warehouse Solutions, Samuel Strapping Systems, StraPack Inc., Venus Packaging, Messersì Packaging S.r.l., MOSCA GmbH, and MJ Maillis SA.
Advancement In The Packaging Industry Will Impel The Global Strapping Machine Market
The development in the overall packaging industry impels the growth in the global strapping machine market. The strapping machine market is anticipated to develop at a CAGR of about 4.8% during the forecasted period. The increasing demand in consumer good and food & beverage industries primarily boost the growth in the market. In addition, the producers are spending on these machines to attain cost & product efficiency, aiming more on the package safety that will further shoot up the market growth. Nevertheless, the strapping machine market is capital demanding and needs a lot of capital investment to start manufacturing, which acts as a chief obstruction for companies to penetrate in this market. For now, the latest trend is the expanding growth in the automatic strapping machines compared to manually operate strapping machines to decrease human intervention.
The global strapping machine market is bifurcated on the basis of product type, material, end-use, application, and regional analysis. Based on the product type, the market is divided into semiautomatic strapping machines, hand-tools strapping machines, and automatic strapping machines. Based on the material, the market is divided into PP, PET, baler twines, polyester, steel, and PVC. Based on the end-use, the market is divided into consumer good, food & beverage, wood, pharmaceutical, building & construction, commercial printing, corrugated, general packaging, electronic industry, postal, newspaper, and others (linen/laundry, hay, lumber etc.). Based on the application, the market is divided into bundling, closing, load securing, and handling aid.
North America And Asia Pacific Region Expected To Witness Major Growth In the Global Strapping Machine Market
Based on the geographical analysis, the global strapping machine market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region is anticipated to register a robust growth in the strapping machine market owing to the high development in the food & consumer goods packaging industry across the region. The Asia Pacific region is also likely to witness the major growth rate during the forecasted period chiefly driven by emerging economies such as China and India.
Browse the full “Strapping Machine Market - By Product Type (Semiautomatic Strapping Machines, Hand-Tools Strapping Machines, and Automatic Strapping Machines), By Material (PP, PET, Baler Twines, Polyester, Steel, and PVC), By End-Usee (Consumer Good, Food & Beverage, Wood, Pharmaceutical, Building & Construction, Commercial Printing, Corrugated, General Packaging, Electronic Industry, Postal, Newspaper, and Others), By Application (Bundling, Closing, Load Securing, and Handling Aid), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/strapping-machines-market
The global strapping machine market is segmented as follows:
By product type:
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