Press release
Industrial Electronics Packaging Market is predicted to expand at a CAGR of 4.1% by 2029
Industrial Electronics Packaging Market
The global industrial electronics packaging market currently enjoys a valuation of US$ 1.9 Bn, and is predicted to expand at a CAGR of 4.1% to attain a net worth of US$ 2.5 Bn by the end of 2029.
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Nearly 3.5% annual growth is expected in the volume consumption of industrial electronics packaging solutions, in 2022. As indicated by a new market research study of Future Market Insights (FMI), nearly 70% of the demand for industrial electronics packaging is generated by industrial controls and power electronics.
More than 90% of the overall industrial electronics packaging solutions are in the rigid format. Flexible packaging formats, although rapidly gaining ground across industries, holds a negligible share in packaging of industrial electronics.
Material-wise, plastics currently hold nearly 60% share in industrial electronics packaging materials and are likely to retain dominance in the global industrial electronics packaging market. The report opines that polyethylene (PE) will remain the most rewarding segment in the industrial electronics packaging market, followed by polyvinyl chloride (PVC), according to the report.
Top Key Players Covered-
DS Smith Plc.
Smurfit Kappa Group Plc.
UFP Technologies Inc.,
Sealed Air Corporation,
Achilles Corporation,
Desco Industries Inc.,
Botron Company Inc.
Kiva Container Corporation
Orlando Products Inc.
Delphon Industries LLC
Summit Container Corporation
Protective Packaging Corporation
Dou Yee Enterprises (S) Pte Ltd.
Dordan Manufacturing Company Inc.
GWP Group Limited
Pure-Stat Engineered Technologies Inc.
AUER Packaging GmbH
Emballages Cre-O-Pack International Inc.
Universal Protective Packaging Inc.
Asian Economies Hold Promising Investment Opportunities for Industrial Electronics Packaging Companies
North America is estimated to be the most prominent industrial electronics packaging market, the report also points to the robust growth in East Asia's market attractiveness over the years to come. The East Asian market for industrial electronics packaging will thus remain a significant regional contender in the industrial electronics packaging landscape, according to FMI's analysis.
In East Asia, Japan holds more than 50% of the market share, followed by China. South Asia is also cited as a highly lucrative investment pocket for manufacturers of industrial electronics packaging solutions, potentially outpacing other regional markets in terms of growth rate. Growth of South and East Asian market is attributed to robust manufacturing of consumer electronics and swelling demand for impact-resistant protective packaging solutions.
Europe is another prominent market for industrial electronics packaging, more than 60% of which is accounted by Germany. The country will continue to spearhead European market owing to towering rate of production of semiconductor components and equipment.
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Europe & the US Account for a Massive Share in Global Production of Industrial Electronics
Manufacturers of industrial electronics packaging are eyeing business expansion across countries with high consumer electronics production, as an effort to strengthen their foothold in the global industrial electronics packaging market. Leading manufacturers of industrial electronics packaging are either based out of the US or Europe, or have a strong presence in these regions, as both the markets hold a collective share of more than 60% in the global production of industrial electronics.
Key Segments of Industrial Electronics Packaging Industry Survey
Industrial Electronics Packaging Market by Product Type:
Testing & Measuring Equipment
Process Control Equipment
Industrial Controls
Power Electronics
Industrial Automation Equipment & Others
Industrial Electronics Packaging Market by Material Type:
Plastic Industrial Electronics Packaging
PE
PET
PS
PP
PVC
Paper & Paperboard Industrial Electronics Packaging
Industrial Electronics Packaging Market by Packaging Type:
Rigid Industrial Electronics Packaging
Corrugated Boxes
Containers
Protective Packs
Trays
Clamshells
Bin & Totes
Others
Flexible Industrial Electronics Packaging
Bags & Pouches
Tapes & Labels
Films & Others
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Industrial Electronics Packaging Market by Region:
North America Industrial Electronics Packaging Market
Latin America Industrial Electronics Packaging Market
Europe Industrial Electronics Packaging Market
East Asia Industrial Electronics Packaging Market
South Asia & Pacific Industrial Electronics Packaging Market
Middle East & Africa (MEA) Industrial Electronics Packaging Market
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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