Packaging Robots Market set to Surpass US $ 5 Bn by 2024, on the Backdrop of Need to Modernization of Manufacturing Facilities and Enhance Operational Efficiency

Transparency Market Research (TMR) delivers key insights on the global packaging robot market in its latest report titled ‘Packaging Robot Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024’. In terms of value, the global packaging robot market is projected to expand at a CAGR of over 14% during the forecast period (2016–2024), due to various factors, regarding which TMR offers vital insights in detail in this report.

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Growth in manufacturing sector coupled with increased demand of goods from consumers impelled industry operators to opt for large scale automation. As a result of this degree of automation in several industries particularly manufacturing facilities engaged consumer products scaled up. In addition, over past four to five years, packaging surfaced as one of the crucial factor for product sales, hence needed focus form goods and product producers. Consequently, an increased deployment of packaging robots experienced across all end use industries. A few of the end use industries approached packaging robot manufacturers with unique specification and functioning of picking, packing and palletizing robots to be deployed in their premise, which catalysed the trend for application specific packaging robots. Additionally, the associated benefits of installing robots in packaging line, such as lowering costs, increasing accuracy, and reduced product damage, is contributing to the growth of global packaging robots market. Nevertheless, sales of packaging robots increasing globally, but the challenge which needs to be addressed by packaging robot manufacturers is the high initial setup cost. A large number of plant and facility operators are sceptic of deploying packaging robots due to high initial cost, where Chinese players are capitalizing the opportunity. The published report by TMR details all the issues and challenges encountered by the industry and also offer best practices studies with white spaces (opportunity pockets) in the global packaging robots market.

The global packaging robot market in the report is segmented on the basis of application, gripper type and end-use industries. On the basis of application, the global packaging robot market is segmented into picking, packing and palletizing. Packing segment is further sub-segmented in to case packing, tray packing, filling and other applications. Palletizing segment is further sub-segmented in to case palletizing, bag palletizing and de-palletizing. On the basis of gripper type, the global packaging robot market is segmented into claw, clamp, vacuum and other. Among gripper type, vacuum segment projected to be the most attractive segment over the forecast period.

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On the basis of end-use industries, the global packaging robot market is segmented into food and beverages, pharmaceuticals, consumer products, tracking and logistics and industrial packaging. Industrial packaging segment is further sub-segmented in to chemicals, electronic devices and others. Regionally, the global packaging robot market is segmented into North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA). Packaging robots used for packaging operations for electronic components are not consider in the research study.

Among applications, packing segment accounts for a major share in the global packaging robot market, while, tray packing and case packing sub-segment in the packing segment is expected to expand at significant CAGR in terms of value over the forecast period. Leading players in global packaging robot market are focused on developing high speed packaging robot and heavy payload robot to cater increasing demand for high speed packaging across end-use industries. Asia Pacific is anticipated to grow at an impressive CAGR over 17% in terms of value over the forecast period.

Key players in the global packaging robot market include Fanuc Corporation, Kuka Roboter GmbH, Yaskawa Electric Corporation, ABB Limited, Mitsubishi Electric Corporation, Bosch Packaging Technology and Schneider Electric SE.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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This release was published on openPR.