The global strapping machine market is expected to reach USD
6.4 billion by 2025, growing at a CAGR of 4.9%, according to a new report by
Grand View Research, Inc. Globally increasing demand from Asia Pacific region
has been a major factor driving market growth. In addition, significant growth
in various application industries such as food & beverage, packaging, and
consumer goods is further boosting the market growth.
Strapping
machines are extensively used in the packaging industry for the strapping or
wrapping of goods as packages held tight & together have a longer shelf
life. Growing need for safe shipping of the various products from applications
such as food & beverages, consumer appliances, household appliances,
newspaper and other merchandises goods are fueling the demand for the strapping
machines over the forecast period.
Semi-automatic
was the largest category in 2016 and the trend is expected to continue over the
forecast period. Semi-automatic strapping machines are extensively used owing
to its reduced maintenance cost, adjustable height, strap variety, and high
tension control.
Asia
Pacific is expected to continue its domination over the forecast period
primarily driven by the presence of major economies such as India, China,
Japan, and others. Asia Pacific expected to experience the fastest growth over
the forecast period with an estimated CAGR of 5.6% from 2017 to 2025.
Access Research Report of Strapping
Machine Market@ http://www.grandviewresearch.com/industry-analysis/strapping-machine-market
Further key findings
from the report suggest:
· Globally,
polypropylene (PP) as a strapping material is projected to experience
significant growth in terms of revenue growing at a rate of 5.5% between 2017
and 2025. The growth can be attributed to rising demand from the packaging
industry and growing need for increasing shelf life of goods.
· Asia
Pacific accounted for the largest market in 2016 with an estimated revenue of
USD 1.4 billion and the growth is expected to be fueled significantly owing to
the presence of major economies such as India, China, and Japan. China held the
largest market share in 2016 and is expected to witness higher growth rate for
strapping machines due to increasing purchasing power parity and growing
packaging industry.
· Key
players in the market includes Dynaric Inc., Samuel Strapping Systems, Signode
Packaging Systems Corporation, Fromm Holdings AG, Messersì Packaging S.r.l.,
Mosca GmbH, Polychem Corporation, MJ Maillis S.A., StraPack Inc., Strapex
Group, Transpak Equipment Corp., and others. The major players in the market
are working together to form joint venture, partnerships, collaborations which
would enable them to maintain the market share over the forecast period.
Grand
View Research has segmented the global strapping machine market based on
product, material, application and region:
Strapping Machine Product Outlook (Revenue,
USD Million; 2014 - 2025)
·
Semi-automatic
·
Automatic
·
Fully
automatic
Strapping Machine Material Outlook
(Revenue, USD Million; 2014 - 2025)
·
Steel
·
Polypropylene
·
Polyester
Strapping Machine Application Outlook
(Revenue, USD Million; 2014 - 2025)
·
Food
& beverage
·
Consumer
electronics
·
Household
appliances
·
Newspaper
& graphics
·
Others
Strapping Machine Regional Outlook
(Revenue, USD Million; 2014 - 2025)
·
North
America
o U.S.
·
Europe
o UK
o Germany
·
Asia
Pacific
o China
o India
o Japan
·
Central
& South America
o Brazil
·
Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
