New York
City, 25 January 2019: The Report Strapping Machine Market is anticipated to reach around USD
6,991.4 million by 2026. In 2017, the semi-automatic strapping machine segment
dominated the global market, in terms of revenue. In 2017, Asia-Pacific
accounted for the majority share in the global strapping machine market.
The rapid growth in the global
packaging industry majorly drives the growth of this market. Growing concerns
regarding product safety to avoid damage and loss during packaging and shipping
supports the market growth. The increasing demand from consumer goods, food and
beverage, and publishing further accelerates the adoption of strapping
machines. There has been an increasing demand of strapping machines by
small and medium businesses to increase packaging efficiency while reducing
costs. However, high initial investment costs of strapping machines limit the
growth of the market. New emerging markets, technological advancements, and
increasing adoption by small and medium businesses would provide growth
opportunities for strapping machine market in the coming years.
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The various types of
strapping machines include semiautomatic strapping machines, automatic
strapping machines, and fully automatic strapping machines. The semi-automatic
strapping machine segment is expected to lead the market during the forecast
period owing to increasing demand from small and medium sized business.
Semi-automatic strapping machines are designed for small and medium sized items
and require users to manually feed strapping into the machine. Use of
semi-automatic strapping machines in various industries such as food and
beverage, consumer goods, publishing, and electronics among others has
increased its demand over the past years.
The different materials used in strapping
machines include polypropylene, polyester, steel, and others. The
polypropylene segment dominated the market in 2017 owing to its affordable use
in packaging of small and medium sized products. Its increasing use in various
industries such as food and beverage, consumer goods, publishing, and
electronics among others is expected to drive the market growth during the
forecast period.
Competitive Landscape and Key Vendors:
Asia-Pacific accounted for the highest
share in the global strapping machine market during the forecast period. A
significant growth in the consumer goods, and food and beverage industries has
been registered over the past few years in the region, thereby supporting the
growth of strapping machines in the market. Increasing need for effective packaging
to avoid losses due to damages, and rising disposable incomes in developing
countries of this region augment the market growth in the region. Leading
global players are expanding their presence in developing nations of India,
Indonesia, and Malaysia to tap the growth opportunities offered by these
countries.
The well-known companies profiled in
the report include Mosca GmbH, Samuel Strapping Systems, MJ Maillis S.A.,
Transpak Equipment Corp., Signode Packaging Systems Corporation, Strapex Group,
Polychem Corporation, Dynaric Inc., Messersi Packaging S.r.l., Fromm Holdings
AG, Australian Warehouse Solutions, and Venus Packaging among others. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
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