Global Packaging Robot Market to Exhibit 14.50% CAGR 2016-2024 due to Increased Adoption of Automation Across Industries

Albany, New York, July 06, 2016: Market Research Reports Search Engine (MRRSE) recently announced the addition of a market research study to its comprehensive collection of research reports. The research study, titled “Packaging Robot Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” provides an in-depth analysis of the market, including the major growth factors and potential opportunities.

As per the study, the global packaging robot market is estimated to reach a value of US$5 bn by the end of 2024, exhibiting a progressive 14.50% CAGR between 2016 and 2024. The major geographical segments, product segmentation, and the competitive analysis of the global packaging robot market have also been discussed in the report.

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The global packaging robot market has been classified on the basis of application into packing, picking, and palletizing. At present, the packing segment accounts for the largest share in the global packaging robot market. The prominent players operating in the global packaging robot market are emphasizing on developing heavy payload and high-speed packaging robots to fulfil the growing demands across diverse industries.

Furthermore, on the basis of gripper type, the global market for packaging robot has been categorized into vacuum, clamp, claw, and others. Among these, the vacuum segment is estimated to account for the largest share in the global packaging robot market in the next few years.

By end use, the global packaging robot market has been bifurcated into tracking and logistics, consumer products, electronics devices, and industrial packaging, pharmaceuticals, chemicals, and food and beverages. As per the study, the industrial packaging segment is projected to remain in the topmost position throughout the forecast period. However, this segment is estimated to register relatively sluggish growth if compared to the other segments. On the other hand, the consumer products segment is expected to grow rapidly in the near future.

At present, Asia Pacific accounts for the largest share in the global packaging robot market, thanks to the substantial contribution from China. This region is projected to remain in the leading position, exhibiting a 17% CAGR between 2016 and 2024. Europe and North America are further anticipated to grow at a moderate pace in the next few years. The automation process adopted by diverse countries is one of the major factors fuelling the growth of the packaging robot market across the globe.

Browse Full Global Packaging Robot Market Report with TOC:http://www.mrrse.com/packaging-robot-market

The leading players active in the global packaging robot market include Kuka Roboter GmbH, Bosch Packaging Technology, ABB Limited, Fanuc Corporation, Mitsubishi Electric Corporation, Yaskawa Electric Corporation, and Schneider Electric SE. Detailed profiles of these companies have been discussed in the research report to give a clear understanding to the readers and decision-makers.

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