Yahoo Finance Packaging Robots Market will manage to achieve USD 8.39 billion by 2030 : GreyViews
Packaging Robots Market Size By Type (Primary Packaging and Secondary Packaging), By Application (Filling, Case Packing, Pick & Place, Tray Packing and Others), By End-User (Logistics, Consumer Products, Food & Beverage, Pharmaceutical and Others), Regions, Segmentation, and forecast till 2030.
Pune India, Feb. 02, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the packaging robots market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the packaging robots market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as type, application, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global packaging robots market are Yaskawa Electric Corporation, Krones AG, ABB, Kuka AG, Mitsubishi Electric Corporation, Brenton, LLC, Schneider Electric SE, Remtec Automation, LLC, Syntegon Technology GmbH, Fanuc Corporation among others. To achieve a substantial market share in the worldwide packaging robots market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Products are packaged to keep them safe. Various end-user industries are now-a-days shifting towards fully automated technologies such as packaging robots. The purpose of packaging robots is to pick objects up from various storage locations and place them on shelves following a pre-defined route. Robotic arms are normally programmed to move along predefined routes to pick up objects. Using Packaging Robots, labor-intensive tasks can be done faster, and more effectively. Their ease of use comes from their integrated controls and intuitive human-machine interfaces with advanced sensors and software. Packaging robots have the advantage of being flexible, consistent and accurate. The global packaging robots market is predicted to grow positively because of the need for automatic detection and sorting, a key factor identified in a research analysis. With the help of advanced sensors, vision technology, and laser detection, packaging robots determine the location of objects. There are some factors which are hampering the growth of the packaging robots market such as high installation cost and lack of skilled labour. A significant capital investment is required when installing an automated packaging system in new packaging lines or existing lines. Due to the high capital investment required to install and maintain packaging robots, small and medium sized manufacturers are reluctant to install them.
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Scope of Packaging Robots Market Report:
Report Metric | Information |
Study Period | 2022-2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Market Share Unit | USD Billion |
Segments Covered | Type, Application, End-User, and Regions. |
Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
Major Players | Yaskawa Electric Corporation, Krones AG, ABB, Kuka AG, Mitsubishi Electric Corporation, Brenton, LLC, Schneider Electric SE, Remtec Automation, LLC, Syntegon Technology GmbH, Fanuc Corporation among others |
Segmentation Analysis
Primary packaging is expected to be the fastest-growing segment in 2022.
The type segment includes primary packaging and secondary packaging. The primary packaging segment is expected to witness the highest growth rate during the forecast period. Food and beverage and pharmaceutical industries use primary packaging to manufacture and package sensitive and delicate products. Primary packaging maintains the shelf life of products. The implementation of robots in primary packaging of medicines and liquid syrups provides high precision to maintain quantity and quality.
Pick & place is expected to be the fastest-growing segment in 2022.
The application segment includes filling, case packing, pick & place, tray packing and others. The pick & place segment is expected to witness the highest growth rate during the forecast period. The CAGR for pick & place applications is predicted to be the fastest over the forecast period because of the rapid growth of e-commerce and the use of packaging robots as a substitute for manual picking. Packaging robots will also boost market share because of their advantages like reduced damage, and increased efficiency in pick & place operations.
Food & beverage is expected to be the fastest-growing segment in 2022.
The end-user segment includes logistics, consumer products, food & beverage, pharmaceutical and others. The food & beverage segment is expected to witness the highest growth rate during the forecast period. By automating the packaging operations using packaging robots, assembly line operations are made more efficient, reliable, and high-quality, which drives the adoption of vision-enabled packaging robots. Packaging robots offer proper handling of the product by reducing the chances of spillage in case of liquid of semi-solid products.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the packaging robots market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. There are several factors contributing to the dominant position of packaging robots in Asia Pacific at present, including the increasing use of packaging robots resulting from high levels of automation and intelligent modernization, and the adoption of vision sensor technology. Moreover, presence of major key players in the region, also contributing a large share in the market growth.
Country Analysis
Germany
Germany's packaging robots market size was valued at USD 0.29 billion in 2022 and is expected to reach USD 0.59 billion by 2030, at a CAGR of 9.4% from 2023 to 2030.
Firms are expected to increase their demand for industrial packaging robots as they place a greater emphasis on precision in supply chains. Additionally, autonomous robots will be able to generate an upward growth trend in the country as automation levels grow across a range of end-use industries.
China
China’s packaging robots market size was valued at USD 0.41 billion in 2022 and is expected to reach USD 0.86 billion by 2030, at a CAGR of 9.8% from 2023 to 2030.
Packaging robot market growth is attributed to factors such as the need to reduce operational costs in the packaging industry, as well as advancements in manufacturing technology resulting from high consumer demand.
India
India's packaging robots market size was valued at USD 0.32 billion in 2022 and is expected to reach USD 0.67 billion by 2030, at a CAGR of 9.7% from 2023 to 2030.
There are several factors driving the market growth, including an increased demand for high degree automation and modernization, rapid industrialization, technological advancements such as the usage of vision sensor technology.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increase due to the rising technological advancements.
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GreyViews
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