The global packaging automation market holds out a lot of potential as consumer products manufacturers increasingly adopt automated packaging methods to cut back on labor costs. Despite holding such a solid potential few players have entered the fray owing to high entry barriers. Nonetheless, companies that have come to hold a prominent position in the global packaging automation market are Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, ABB Ltd., and Mitsubishi Electric Corporation.
Competition is strong among them in the global packaging automation market. This is because most of them are expending money on developing new and better technologies to meet various needs of end users.
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As per a report on the global packaging automation market by Transparency Market Research, it would likely rise at a high single digit CAGR of 9.7% over the forecast duration starting in 2016 and ending in 2025. At this pace, it projects the market’s valuation to hit US$69.73 bn by 2025-end.
Application-wise, the global packaging automation market can be classified into labelling, palletizing, capping, filling, and wrapping. Among them, the segment of palletizing accounts for the leading share in the market. In 2016, its leading share was around 27%. Going forward, the palletizing segment is predicted to continue contributing majorly to the revenue in the overall global packaging automation market. However, there is expected to be a shift towards hybrid palletizers from the traditional ones. In addition, further honing of the technology to suit multiple requirements is also predicted to have a positive impact. Geographically, Europe holds a foremost position in the global packaging automation market. In 2016, its market was worth about US$11.51 bn.
By industry, the global packaging automation market is classified into automotive, electronics, retail, healthcare, food and beverage, logistics, and other segments. Among these, food and beverage is prognosticated to account for a king’s share of the global packaging automation market during the course of the forecast period. In 2016, it secured a 24.3% of the total share of the global packaging automation market. High level of competition between food and beverage businesses has drastically raised the demand for automation in the industry. This is expected to bode well for the growth of the food and beverage segment in the global packaging automation market.
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Application-wise, the TMR report has segmented the packaging automation market into labeling, wrapping, capping, filling, palletizing, and others, whereas product types are conveyors, packagers, and packaging robots. Industry-wise, the market has been bifurcated into automotive, electronics, retail, healthcare, food and beverages, and logistics. Geographically, Europe constituted for the greatest demand for packaging automation. However, Asia Pacific is primed to generate demand at a stronger growth rate than all other regions.
Benefits Including Real-time Information Driving Demand
The demand for packaging automation is on the rise as they offer striking benefits over traditional methods, including delivery of real-time diagnostics and performance information, ease in integration, and enhanced safety over contemporary technologies. With these automation tools, manufacturers can not only maximize their production capacities and improve packaging flexibilities for different packaging sizes, they can also meet the requirements of consistently evolving workforce. Packaging automation tools are adequate at changing and scaling according to new products and hence are gaining adoption across medium and large industries alike.