Germany strapping devices market is projected to create an absolute incremental opportunity of US$ 142.0 Mn during the forecast period of 2022-2032, owing to the rapid expansion of food and beverages industries and growing adoption of advanced packaging machines
NEWARK, Del, Sept. 22, 2022 (GLOBE NEWSWIRE) -- As per FMI, the global strapping devices market size is anticipated to grow from US$ 4.5 Bn in 2022 to US$ 7.0 Bn by 2032, accelerating at a CAGR of 4.7% CAGR throughout the forecast period (2022-2032).
Rapid Expansion of end-use industries like food and beverages, personal care, electrical and electronics, healthcare, etc. along with growing demand for advanced packaging solutions is a key factor driving the global strapping devices market. An electrically powered strapping device employs strapping to reliably establish a strong seal that is guaranteed to hold on packages and other items. Strapping devices are used for strapping the higher volume applications.
Manufacturers are investing in these devices to increase cost and product efficiency while putting a higher priority on package safety, which will fuel the market for strapping machines.
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Similarly, growing popularity of automatic strapping machines to minimize human interference as well as to reduce labor costs will further boost strapping device sales in the market during the forecast period. Automatic strapping devices provide hands-free strapping with just one button press. It automatically straps the packages with better consistency.
Another new development in the strapping machine is the integration of strapping devices with the current packaging line to simplify the end-of-line packaging procedure. Increased demand for strapping machines from food and beverage industry is expected to play a key role in expanding the strapping devices market during the forecast period.
However, the capital-intensive nature of the strapping machine sector and the high startup costs for production prevent many companies from entering it.
Key Takeaways from Strapping Devices Market
By operation, the automatic strapping devices segment is anticipated to generate an incremental opportunity of US$ 816.0 Mn during the forecast period of 2022-2032.
Based on device type, vertical strapping devices are expected to gain the highest demand as they are cost-effective and help better in shipping products.
By end-use, the food & beverage segment is anticipated to hold approximately 36% of the value share in the global strapping devices market through 2032.
The strapping devices market in Germany is projected to create an absolute incremental opportunity of US$ 142.0 Mn by 2032.
Indian strapping devices market is projected to grow 1.8X the current market value during the forecast period.
Japan’s strapping devices market is anticipated to expand at a CAGR of 6.8% during the forecast period.
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“Heavy demand from the end-use industries is anticipated to increase the sales for the strapping devices. In addition, the need for cost-efficient and consistent strapping will accelerate the growth of the strapping devices market in the next decade."–says FMI analyst
Rising Need for Safe Shipping of Various Products is Escalating the Growth of the Strapping Devices Market
One of the most challenging tasks in manufacturing industries is to ship the products safely and securely to the customers. There are high chances that the products might get damaged while transported from one place to another.
Strapping has become essential in packaging and shipping as it ensures the safety of the packages. The strapping devices are useful as they control the high tension of the packages. If strapping is not applied properly, it could damage or harm the products in transit. Thus, strapping devices ensure that the products are strapped properly and securely.
These machines help in applying the straps with proper control and consistency. Hence, the products can be shipped safely if they are strapped by the strapping devices. Thus, rising need for safe shipping of various products from end-use industries is escalating the growth of the strapping devices market.
The key players operating in the strapping devices market are Mosca Direct Ltd, Samuel, Son & Co., Signode Industrial Group LLC, StraPack, Corp., Messersì Packaging S.r.l., Transpak Equipment Corp., and North Shore Strapping Inc. Besides these, some other noticeable players in the market are Dynaric, Inc., Strapex, Fromm Holding AG, Avi International Packaging Co., Kopack Enterprises, Transpak Equipment Corp., Alligator Automations, ASN Packaging Pvt Ltd., Packmaster Machinery Private Limited., FEIFER, Saizar S.L., and others.
These leading strapping device manufacturers are continuously adopting strategies such as new product launches, partnerships, mergers, acquisitions, and strengthening of distribution channels to gain a competitive edge in the global market.
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Strapping Devices Market by Category
2.2. Market Definition / Scope / Limitations
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
Have a Look at Related Research Reports of Packaging
Strapping Supplies Market Size: The global strapping supplies market is estimated to create a value of US$ 4.6 Bn in 2022. The sales of the strapping supplies are projected to propel at 5.3% CAGR between 2022 and 2032
Strapping and Banding Equipment Market Share: The global strapping and banding equipment market was valued at around US$ 2258.6 Mn in 2021. Strapping and banding equipment sales are projected to increase at a healthy CAGR of 4.8%
Strapping Equipment Market Trends: 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
Flexible Packaging Paper Market Analysis: The flexible packaging paper market is on track to grow at an estimated CAGR of 4% during 2022-2032
Packaging Laminates Market Outlook: The global packaging laminates market is set to top US$ 5.9 Bn in 2022, and is predicted to expand at a steady CAGR of 5%
About Future Market Insights, Inc.
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