End-of-line Packaging Market to Surpass US $ 6 Bn by 2024

The manufacturing sector has largely emphasized on adopting processes that are precise, efficient, and safe. Automation within machineries has helped cater to these burgeoning demands. Various end-of-line packaging solution providers are integrating automation to increase the end user throughput and operability of machines.

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 end-of-line packaging market.

Moreover, the need to modernize manufacturing facilities is anticipated to drive the demand for end-of-line packaging machineries. Today, the enterprises with profitable businesses are strategizing to reduce costs to achieve a better bottom line.

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Industries, especially in the developing countries (such as BRICS), are faced with high labor costs, and lack of skilled labor, and high turnover. End-of-line packaging solutions eliminate the need to constantly find and train a new workforce, and allows employers to allocate available workforce with more value adding tasks, which in turn can reduce labor turnover through improved workplace conditions.

Increasing demand for consumer goods has prompted manufacturing companies to incorporate innovative automation through to end-of-line. However, one of the major challenges in doing so is to ensure the automation performance aligns as per the customer’s demand.

Another major challenge for market players is lack of centralized purchasing. Most of the manufacturers are dependent on various vendors and distributors for standalone machineries in order to integrate the complete end-of-line packaging solutions.

This can cause delays in manufacturing process. The published report by TMR details all the issues and challenges encountered by the industry and also offers opportunities for end-of-line packaging solutions providers.

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The global end-of-line packaging market is segmented based on technology into automatic and semi-automatic. On the basis of function, the global end-of-line packaging market is segmented into standalone and integrated.

The integrated segment is estimated to be the most attractive segment over the forecast period. All integrated systems has been considered as customized or tailor made. A certain share of standalone unit sales has been considered as customized.

The standalone segment is further segmented into machineries used for palletizing, carton erector, packaging and sealing, stretch wrapping, labeling, and others. On the basis of received order type, the global end-of-line packaging market is segmented into standard order and customized order. On the basis of end-use industries, the global market is segmented into food and beverages, pharmaceuticals, automotive, electronics and semiconductor, and chemical products among others. The pharmaceuticals segment is expected to exhibit highest growth over the forecast period.

Regionally, the global end-of-line packaging market is segmented into North America, Europe, Latin America, Asia Pacific (APAC), and Middle East and Africa (MEA). Europe is estimated to dominate the global end-of-line packaging market, followed by North America. Revenue from sales of end-of-line packaging in Asia Pacific is expected to increase at the highest CAGR over the forecast period.

Key players in the global end-of-line packaging market include Krones AG, IMA S.p.A., Bosch Packaging Technology, DS Smith Plc., Pro Mach, Inc., Combi Packaging Systems LLC, Festo Corporation, Schneider Packaging Equipment Co. Inc., and Gebo Cermex.

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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.