Strapping Devices Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Strapping Devices Market grew at a CAGR of 3.8% between 2017-2021 and is estimated to be US$ 4,798.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.9% and is expected to reach a valuation of US$ 8,512.3 Mn by 2032 end.
With several benefits, strapping equipment is useful for various industries and can help increase profitability. Increased demand for strapping equipment in the building, automobile, shipping, and logistics industries is driving manufacturers to increase production capacities.
ChemView Consulting has analyzed that the strapping devices market has witnessed remarkable growth mainly due to the increasing demand for high-end packaging machines used in pharmaceuticals, chemicals, and food and beverages to improve efficiency and cost control. These machines have also been incorporated with several packaging lines to help companies effectively manage the end-of-line process.
Automatic strapping equipment has 60.0% of the market share and has been shaped by transportation, warehousing, and logistics developments since 2005. Demand will increase at a 5.5% CAGR over the next ten years with applications including pack & ship and post-manufacturing processing. It is estimated that this sector will account for 29% of all growth over the next decade.
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Segments Covered in Report
By Automation:
- Manual
- Semi-automatic
- Automatic
By Product Type:
- Horizontal Strapping Machine
- Vertical Strapping Machine
By End Use Industry:
- Shipping & Logistics
- Food & Beverages
- Building & Construction
- Electrical & Electronics
- Household Appliances
- Automobile
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Strapping Devices Market
- Based on Automation, Automatic strapping equipment has 60.0% of the market share and has been shaped by transportation, warehousing, and logistics developments since 2005. Demand will increase at a 5.5% CAGR over the next ten years with applications including pack & ship and post-manufacturing processing.
- Based on the End Use Industry, Food & beverage accounted for the largest segment using strapping machines for wrapping and packaging. The rising importance of packaging to protect food & beverage products has become a crucial factor driving demand.
- Based on Region, in 2021, the Europe market held a sizeable revenue share of 30.5%. The European strapping machine market is driven by the high adoption of strapping machines for the food packaging industry, which has been increasing. The growing demand for processed food products in Europe is expected to contribute toward the growth of the food & beverage industry, which, in turn, is likely to drive the development of the strapping machine market over the forecast period.
Competition Summary
Key companies covered in the market study are Signode Industrial Group LLC, Cyklop International, Dynaric Inc., Polychem Corporation, Samuel, Son & Co., StraPack, Corp., Tiger Pack, Inc., TITAN Umreifungstechnik GmbH and Co. KG, Fromm Holding AG, Hefei Seelong Import and Export Group Co. Ltd., Messersi Packaging Srl, Mosca GmbH, North Shore Strapping Inc., Packmaster Machinery Pvt Ltd
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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