NEWARK, DE / ACCESSWIRE / August 31, 2022 / As per Future Market Insights, the strapping and banding equipment market is expected to reach US$ 2.3 Bn in 2022 and surpass a valuation of US$ 3.7 Bn by 2032. Sales in the market are projected to expand at 4.8% CAGR between 2022 and 2032 on the back of rising demand for automated packaging equipment for diverse industries.
Strapping and banding equipment are used for shipping and transportation of bulky and heavy goods as it ensures the safety of the package while transit. From small business who have limited shipping and packaging needs to mass production businesses, requiring packaging needs strapping and banding equipment. Due to these benefits of strapping and banding equipment the demand for the strapping and banding equipment market is growing.
Strapping and banding equipment market is expected to see a tremendous growth in the forecast period due to the rising application in food & beverages, consumer electronics, e-commerce, and others. Increasing concern to protect products from damage during transportation is growing strapping and banding equipment market.
Strapping and banding equipment are of three types such as fully-automatic, semi-automatic, and manual. Over the forecast period the demand for fully-automatic strapping and banding equipment will be higher due to rising automation in the packaging industry.
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Key Takeaways from Global Strapping and Banding Equipment Market
- As per end-use industry, e-commerce is expected to hold 36% of the market share in 2032.
- Based on automation type, fully-automatic strapping and banding equipment are expected to increase 1.7 times the current market sales in the forecasted period.
- South Asia and East Asia are expected to be the largest market for strapping and banding equipment, with sales surging at a CAGR of 5.2% between 2022 and 2032.
- India is expected to lead the growth in South Asia market due to the presence of several leading manufacturing companies in the country.
- Food & beverage is expected to be the second-leading end use segment in strapping and banding equipment market.
"Automatic strapping and banding equipment are cost-effective, saves time and do work without much effort. Hence, manufacturers are investing more in automatic strapping and banding equipment to achieve production efficiency and reduce the manual efforts. They are leveraging their cutting-edge and green technology to capitalize on growing demand for safe packaging equipment from diverse industries" - comments FMI analyst
Increasing Need to Protect Products from Damage during Shipping to Create Demand
The threat of damage to goods during the transport process reduces significantly when they are accurately bound with a strapping and banding equipment. Protection of products requires pallet banding to hold, combine, fasten the goods, and stabilize. strapping and banding equipment are used to rapidly wrap large or small quantities of product to facilitate quicker transportation both to and from train or truck.
When the products are banded it improves their life expectancy of them throughout transport which helps to protect the product from getting damaged. Thus, the demand for strapping and banding equipment is rising due to the increasing need to protect products from damage during shipping.
Global Strapping and Banding Equipment Market Landscape
Signode Packaging Systems Corporation, FEIFER, TransPak, Vestil Manufacturing Corp., The Plastic Strapping Company Ltd, Allstrap Steel & Poly Strapping Systems LLC, Mosca GmbH, Strapack, Inc., W rent, s. r. o., Fromm Holding AG, FELINS, Cyclop International, Jia-in Industry Co., Ltd., Plasticband, S.A., Jining Myway Machinery Co., Ltd., ISG PACK, ESE Direct Ltd., Martin & Weissgerber Kaltband GmbH
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Global Strapping and Banding Equipment Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for strapping and banding equipment market by automation type (fully-automatic, semi-automatic, and manual), by product type (horizontal strapping and banding equipment, vertical strapping and banding equipment), by end-use (food & beverages, consumer electronics, household, e-commerce, automobile, others) across seven regions.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
Strapping and Banding Equipment Market by Category
By Automation Type:
By Product Type:
- Horizontal Strapping and Banding Equipment
- Vertical Strapping and Banding Equipment
By End Use:
- Food & Beverages
- Consumer Electronics
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors /p>
3.4. Value Chain Analysis
3.4.1. Profit Margin Analysis
3.4.2. Raw Material Suppliers
3.4.3. Manufacturers, Wholesalers and Distributors
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Strapping Equipment Market Share: The global strapping equipment market was valued at US$ 1.6 Bn in 2021, registering Y-o-Y growth of 4%. Strapping equipment sales are projected to increase at a CAGR of 4.6%, reaching US$ 2.7 Bn by 2032.
Strapping Devices Market Demand: The global strapping devices market is estimated to be valued at US$ 4.5 Bn in 2022 and is further likely to grow at 4.7% CAGR between 2022 and 2032, reaching a valuation of US$ 7.0 Bn by 2032.
Banding Machine Market Volume: The global banding machine market is poised to increase at 4.7% between 2022 and 2032, totaling a market valuation of US$ 7.5 Bn by 2032.
Automatic Banding Machine Market Forecast: The global automatic banding machine market was valued at around US$ 3.3 Bn in 2021. The market is projected to register 4.8% CAGR over the forecast period, reaching a valuation of US$ 5.3 Bn by 2032.
Metal Banding Machine Market Analysis: The global metal banding machine market is projected to witness growth at a healthy CAGR of 3.9% from 2022 to 2032 and reach a valuation of US$ 1 Bn by 2032.
Pallet Banding Machine Market Growth: The global pallet banding machine market is expected to grow at 4.9% CAGR, totaling a valuation of US$ 4704.7 Mn by 2032.
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Bamboo Packaging Market: The global bamboo packaging market is set to enjoy a valuation of US$ 480.3 Mn in 2022, and further expand at a CAGR of 6.4% to reach US$ 895.1 Mn by 2032.
Packing Boxes Market: The packing boxes market is anticipated to have a steady CAGR of 5% during the period 2022-2032. The packing boxes market size is predicted to grow from US$ 134.7 Bn in 2022 to US$ 219.4 Billion in 2032.
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