Yahoo Finance Packaging Machinery Market to Exhibit 3.6% CAGR by 2027 | Demand for Packaging in the Logistics & Transportation Driving the Market
Companies covered in Packaging Machinery Market are Krones AG, Robert Bosch Packaging Technology GmbH, Coesia S.P.A, I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., Salzgitter AG, Viking Masek Global Packaging, Nichrome Packaging Solutions, Asian Packing Machinery Pvt. Ltd., Aagard Group, LLC, MG America
Pune, India, Aug. 11, 2022 (GLOBE NEWSWIRE) -- The global Packaging Machinery Market size is expected to generate USD 52.83 billion by 2027 while exhibiting a CAGR of 3.6% between 2020 and 2027. The rising impetus for sustainable packaging and advancement in robotics are expected to be the driving factors for the market growth during the forecast period. Fortune Business Insights, in its latest report, titled “Packaging Machinery Market Size, Share & COVID-19 Impact Analysis, By Machine Type (Bottling Line, Cartoning, Case Handling, Closing, Filling & Dosing, Form, Fill & Deal, Labelling, Decorating & Coding, Palletizing, Wrapping & Bundling, and Others), By End User (Food, Beverages, Pharmaceuticals, Personal Care and Toiletries, Household, Industrial and Agricultural Chemicals and Others) and Regional Forecast, 2020-2027”, Observes that the market was worth USD 40.08 billion in 2019.
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Key Companies Operating in the Packaging Machinery Market:
Krones AG
Robert Bosch Packaging Technology GmbH
Coesia S.P.A
I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A.
Salzgitter AG
Viking Masek Global Packaging
Nichrome Packaging Solutions
Asian Packing Machinery Pvt. Ltd.
Aagard Group, LLC
MG America
Impact of Covid-19:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Packaging machinery is one of the important aspect of packaging industry. The machinery is vital for all the packaging operations that involves primary packaging to distribution of materials. For instance, a typical food processing packaging machine works by filling the carton with the desired food product such as putting the chips in the packet. Additionally, there are several types of machinery such as the conveyor machines adopted in the packaging operations that are reliable and efficient in functioning.
What does the Report Include?
The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2020 and 2027. Furthermore, the competitive landscape has been discussed in-depth that includes information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Report Scope & Segmentation:
Report Coverage | Details |
Forecast Period | 2020-2027 |
Forecast CAGR | 3.6% |
2027 Value Projection | USD 52.83 billion |
Base Year | 2019 |
Market Size in 2019 | USD 40.08 billion |
Historical Data | 2016 - 2018 |
No. of Pages | 120 |
Segments Covered | Machine-Type, End- User and Region |
Packaging Machinery Market Growth Drivers | Demand for Packaging in the Logistics & Transportation and Supply-chain Industry is Driving the Market |
Drivers and Restraints:
Increasing Adoption of Robotics to Favor Growth
The emergence of robotics technology has led to a complete overhaul of the packaging industry. Automation in the sector is efficiently optimizing the flow of materials and the process involved in packaging. The companies are adopting modern robots that are working collectively with humans to reduce human-fatigue and other types of injuries during operational activities. Furthermore, robotics is ensuring that the product maintains its superior quality while aiding systematic production planning and improving overall efficiency. For instance, in June 2020, SIG, a leading carton packaging company, introduced its new fully automated warehouse plant for manufacturing spare parts located in Linnich, Germany. According to the company, the new warehouse will adopt the modular system, wherein the stackable box containers will be loaded, used for storing, and further will be unloaded with the aid of robots that will be guided through a routing software. Therefore, increasing adoption of robotics technology is expected to propel the growth of the global packaging machinery market in the forthcoming years.
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Regional Analysis:
Increasing Investments for Manufacturing Sector in Asia-Pacific to Augur Growth
Among the regions, the market in Asia-Pacific is expected to hold the highest global packaging machinery market revenue during the forecast period. Furthermore, the region was worth USD 12.33 billion in 2018 and is likely to gain momentum owing to increasing investments in the manufacturing sector. North America, on the other hand, is anticipated to grow steadily owing to long life of machinery that is typically 8 to 10 years.
The Middle East & Africa is expected to witness significant growth for the market in the forthcoming years. This is attributable to factors such as increasing investments in transportation and logistics industry.
Competitive Landscape:
Collaboration Strategies by the Companies to Stoke Demand
According to Fortune Business Insight, the global packaging machinery market comprises of several companies proliferating to gain major market share. The key players are striving to consolidate their position by adopting strategies such as merger and acquisition, collaboration, and forging partnerships. For instance, in October 2019, Krones AG announced its partnership with Stadler Anlagenbau GmbH. The collaboration is aimed at developing a recycling technology that will reduce and improve interfaces for the packaging industry.
Table of Content:
Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Executive Summary
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19 on Packaging Machinery Market
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Market Share Analysis and Matrix, 2019
Key Packaging Machinery Market Insights and Analysis, By Segments
Global Packaging Machinery Market Analysis, Insights and Forecast, 2016-2027
By Machine Type (Value)
Bottling line
Cartoning
Case Handling
Closing
Filling & Dosing
Form, Fill & Deal
Labelling, Decorating & Coding
Palletizing
Wrapping & Bundling
Others (Inspection Machines, Specialty Machines, Etc.)
By End User (Value)
Food
Beverages
Pharmaceuticals
Personal Care and Toiletries
Household, Industrial and Agricultural Chemicals
Others (Garments, stationary, electronics, tobacco, etc.)
By Geography (Value)
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
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