Global Packaging Robots Market To Hit More Than USD 4 Billion By 2024

By Goldstein Market Intelligence || 2018-02-03 4:01:26 AM

Global Packaging Robots Market To Hit More Than USD 4 Billion By 2024

Global packaging robots market generates the process of packaging faster and more accurately.

Packaging robots are the robots that are used for packaging purposes. They not only make the process of packaging faster and more accurate but are also cost cutting and time saving. The market of packaging robots provides the maximum productivity and also reduces errors made by humans. It is highly flexible. Technological advancements that are taking place in recent era will boost this market.

Global Packaging Robots Market Outlook 2024

On the basis of application that comprises of picking & placing, packing and palletizing, packing segment is said to dominate the market with around 49% of share in which case packing being the highest revenue generating sub-segment in 2016. The market for packaging robots globally reached USD 2,480 million in 2016 and is predicted to reach USD 4,700 million by 2024 at a CAGR of approximately 14% in forecast period i.e. 2016-2024.

Asia Pacific region holds the maximum market share when it comes to packaging robots market, China is the biggest contributor of packaging robots in Asia Pacific region accounting a market share of around 45% in 2016.

Rising Trend of Industrial Automation: Major boost

With technological automation in various industries whether it is packaging industry or agriculture industry etc is a major boost for global packaging robots market as with the automated machines and robots there will be better productivity and lesser time consumption. Thus growing need of automation in industries propel the market towards growth.

 Advancement in technology: Innovation

Advancement in packaging robots is one of the major growth driver for global packaging robots market. Some of the manufacturers are bringing latest technologies such as Optoforce, Hungary-based packaging robots manufacturer, have launched new 6-axis force/torque sensors, the robot which is equipped with a sense of touch etc. However, the market growth is restrained by certain factors such as high set up cost, lack of skilled labor force and others.

Global Packaging Robots Market Outlook 2024” contains detailed overview of the global packaging robots market in terms of market segmentation by component type, by gripper type, by application type, by end user type.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

This market report also includes provides competitive outlook of some of the major players of the global packaging robots market which includes profiling of companies of ABB Limited, Krones AG, Fanuc Corporation, Schneider Electric SE, Yaskawa America Inc., Mitsubishi Electric Corporation, Bosch Packaging Technology (Robert Bosch GmbH), Brenton Engineering, Kuka Roboter GmbH, Remtec Automation LLC., Guangzhou Risong Intelligent Technology Holding , Brokk AB (SE), Durr Systems, Amada Co Ltd., FIPA GmbH, Kejie Group, Star Seiki Co, Ylog GmbH, Weiss Robotics, Suzhou GST Technology etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global packaging robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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