Strapping Devices Market

Strapping Devices Market Size Analysis

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.

Market Dynamic

GROWING DEMAND FROM THE END-USE INDUSTRY DRIVES THE MARKET

The strapping equipment market is expected to witness a high level of growth over the forecast period. Apart from this, there will be increased demand for strapping equipment across industries, including food and beverage, transportation and logistics, building and construction, and automobiles. In the recent past, the global strapping equipment market has witnessed strong growth due to the increasing industrialization and rapid industrialization in emerging countries.

HIGH INVESTMENT COSTS HAMPER THE MARKET GROWTH

Due to the high cost of the strapping equipment, small industries cannot afford to buy the production equipment, which hampers competition. As a result, the growth of this market has been slow in recent years.

GROWING DEMAND FOR CUSTOMIZABLE PACKAGING PROJECTS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

In the upcoming years, there are expected to be many opportunities for the adoption of Strapping Devices systems due to the launch of customizable strapping machines will further expand the future growth of the strapping equipment market. Rising demand for customized strapping machines is expected to be attributed to the rapidly increasing automation of loading operations and a need for an efficient supply chain.

Market 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)

Segment-Wise Analysis

Which Strapping Equipment is projected to ensure the most revenue during the forecast period?

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.

Why is the food & beverage segment expected to expand the fastest during the forecast period?

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.

Specially designed machines are used in packaging food, beverages, and other products. The strapping system, which is very beneficial in keeping the goods dry, safe, and secure while in transit, is another feature that makes strapping very important.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• 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.
• The Asia Pacific region is expected to remain the fastest-growing market for strapping machines due to increased income levels, purchasing decisions, and lifestyle changes among consumers.

Competition Analysis

The strapping equipment market is expected to be highly competitive. The new technologies, rising labor costs, and growing packaging restrictions will create a critical scenario for the strapping equipment manufacturers. However, key market players are trying to stay ahead in this hectic situation by adopting the latest technologies and creating differentiated products.

Some of the key developments that have taken place in the Strapping Devices Market include:

• In February 2022, Signode Industrial Group LLC brought new strapping tools to the market. It is a lightweight hand tool for BPT steel strapping with balanced features. It is employed in mobile and heavy-duty stationary applications that require high-tension forces.
• In May 2021, A device that automatically scans the merchandise and fills the carton was created by Fromm Holding AG.

A list of some of the key suppliers present in the market 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

Report Coverage and Highlights

• 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.