Strapping Equipment Market are Growing Due to Use of Robots and Automation Anticipated to Reach at a US$ 2.2 Billion Valuation by 2034 | Future Market Insights Inc.
The United States is experiencing a surge in demand for strapping equipment, with a projected 0.90% Compound Annual Growth Rate (CAGR) through 2034. This demand is being driven by two key factors: the rapid growth of e-commerce and the expansion of domestic manufacturing. The rise in online shopping has created a need for effective packaging solutions, leading to increased demand for strapping equipment in distribution facilities and warehouses.
NEWARK, Del, April 22, 2024 (GLOBE NEWSWIRE) -- Safety, cost efficiency, and time effectiveness can all be achieved by the packaging giants and startups with the help of strapping equipment. This trend will push the demand to gain a *2.30% CAGR* through 2034. This will propel the market to a valuation of *US$ 1.8 billion* by 2024 and *US$ 2.2 billion* by 2034.The strapping equipment market is driven by the growing use of robots and automation in packaging procedures. Automation improves productivity, lowers human costs, and guarantees constant quality in strapping processes.
Intricate characteristics like seamless interaction with manufacturing lines and accurate tension management are made possible by robot improvements. This tendency is especially apparent in manufacturing, logistics, and food processing, which propels global market development.
Introducing novel, environmentally friendly materials is an opportunity for strapping equipment manufacturers. Key players are indulging in research and development to provide strapping solutions that are environmentally friendly substitutes for conventional materials.
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This aligns with the rising demand for eco-friendly packaging solutions and growing environmental concerns, allowing market players to benefit from the new market trends and obtain a competitive advantage.
*Key Takeaways from the Market Analysis:*
· A valuation of US$ 1.6 billion was reached by the strapping equipment industry in 2018.
· The strapping equipment market garnered a CAGR of 1.60% historically from 2018 to 2023.
· The United States strapping equipment industry will develop at a CAGR of 0.9% over the projection period.
· In 2024, horizontal strapping machines will become more popular, accounting for 67.3% of the market.
· With a 46.1% market share in 2024, such equipment will be extensively utilized in the logistics and transportation industry.
*“Increasing trend for safe packaging across sectors is propelling the strapping equipment demand. Globalization, the expansion of e commerce, and strict logistics laws all contribute to this demand, which is particularly strong in the logistics sector. The projected expansion is supported by the necessity for dependable strapping solutions to protect cargo during transportation." says a Lead Consultant **Ismail Sutaria** in Packaging at Future Market Insights (FMI).*
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*Competitive Landscape*
The key players in the strapping equipment market are striving to improve sustainability, dependability, and efficiency. They prioritize equipment design advancements that enhance performance, such as quicker strapping rates and adaptability for different packing uses.
To lessen the influence on the environment, efforts are being focused on creating environmentally friendly strapping materials and methods. Maintaining and providing technical support for after sales services, such as maintenance, is essential to ensuring consumer satisfaction and retention in the highly competitive market context.
Startups in the strapping equipment market use disruptive technology and specialized market niches to position themselves strategically. They emphasize innovation and provide advanced options like integrated smart packaging or automated strapping systems. These companies frequently focus on particular markets or uses, meeting the demands and tastes of individual customers.
They use flexible business structures to quickly adjust to changing market conditions and offer customized services. Startups want to make a name for themselves and effectively compete with more established firms. To do this, they emphasize innovation and adaptability.
*Key Companies Profiled:*
· Signode Industrial Group LLC
· Cyklop International
· Dynaric Inc.
· Fromm Holding AG
· StraPack, Corp.
· Messersi Packaging Srl
· Mosca GmbH
· North Shore Strapping Inc.
· Packmaster Machinery Pvt Ltd
· Polychem Corporation
· Samuel, Son & Co.
*Key Developments:*
*Market Player* *Offerings*
Fromm Holding AG
· The P328S and P329S are FROMM's 3 IN 1, battery operated Smart S series strapping tools for plastic straps.
· They have a thoroughly tested heavy duty color touchscreen, cutting edge software, and many smart features, including wireless capability.
· With the launch of this new line of digital battery powered strapping equipment, FROMM exhibits its inventiveness and leadership position in the industry once more.
· After over 70 years in business, it reaches a new height as a leading plastic and steel strapping pioneer.
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*Key Segments Profiled in the Strapping Equipment Market*
*By Automation:*
· Manual / Handheld
· Semi-automatic
· Automatic*By Product Type:*
· Horizontal Strapping Machine
· Integrated
· Stand alone
· Vertical Strapping Machine
· Integrated
· Stand alone
*By End Use:*
· Food & Beverage
· Building & Construction
· Logistics and Transportation
· Consumer Goods
· Pharmaceutical
· Agriculture
· Other Industrial*By Region:*
· North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· The Middle East & Africa
*About the Packaging Division at Future Market Insights.*
The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
*Authored by:*
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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*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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