Pallet Stretch Wrapping Machines Market Worth US$ 500 Mn by 2027
Increasing Demand for Equipment for Unitization of Loads to Fuel Market Growth
Increasing customer demands for quality, speed and security across supply chains has driven optimization in packaging operations. Pallet stretch wrappers are new equipped with new features to meet consumer demands. End users require machines that can deliver efficient packaging, safe shipment and secure loads of varying types at enhanced efficiency. Pallet stretch wrapping machine is a unitizing equipment that requires minimal operator intervention. These machines are considered as critical packaging solutions from the beginning of the shipping process and logistics and not at the end of the packaging line. This has spurred the demand for pallet stretch wrapping machines across industries. To maintain wrapping standards, suppliers and manufacturers of semi-automated and automated packaging machines have offered sophisticated test laboratories for test analysis. Latest pallet stretch wrapping machines are equipped with advanced sensors that detect load weight, load height and stability quotient. These features are expected to drive the growth of the global pallet stretch wrapping machines market in the coming years.
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Reluctance from End Use Industries with Low Production Capacity to Restrain Market Growth
As pallet stretch wrapping machines offer higher pace of wrapping pallet loads per hour, they are used by manufacturers that have high production output. Manufacturers that have high production volumes require high pallet loads opt for these machines. Pallet stretch wrapping machines are comparatively costlier than other packaging machines and are not affordable for small scale manufacturers that produce low production volume. Due to low manufacturing volume packaging machines are used for short duration of time, consequently resulting in high idle time. This has caused increased reluctance from end use industries with relatively less production output with respect to use of pallet stretch wrapping machines, thus hindering the growth of the global market.
According to Future Market Insights, the global market for pallet stretch wrapping machines is projected to expand at a value CAGR of 4.3% throughout the period of assessment. By 2017, the global market stood at US$ 333.5 Mn and is estimated to reach a valuation of more than US$ 500 Mn by end of the forecast period (2027).
Manufacturers involved in the global pallet stretch wrapping machines include Muller Load Containment Solutions, Arpac LLC, Robopac SPA, Hangzhou Youngsun Intelligent Equipment Co. Ltd., Italdibipack S.p.A, Fromm Packaging Systems, Inc., Wulftec International Inc., Atlanta Stretch Spa, Phoenix Wrappers, Inc., Tosa s.r.l., SIAT S.p.A, Lantech, Inc., Webster Griffin Ltd., and Perks Engineering.
Global Pallet Stretch Wrapping Machines Market: Key Insights
Asia Pacific excluding Japan (APEJ) is expected to be the largest region with respect to adoption of pallet stretch wrapping machines. This region is characterised by presence of various end use industries that require installation of such packaging machinery. Emerging economies of China and India are creating potential growth opportunities for manufacturers of pallet stretch wrapping machines. The sale of pallet stretch wrapping machines in this region is expected to touch a value a little under US$ 170 Mn by the end of the period of assessment (2027)
Automatic pallet stretch wrapping machines are gaining high traction since past years. Increasing use of rotary arm, turntables, robots and ring type of automatic machines is fuelling the adoption of automatic pallet stretch wrapping machines across end use industries
Standard order segment in the order type is expected to lead the global market with a high market valuation an significant growth rate as end users prefer standard machines developed by manufacturers and not customized packaging machines
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