Strapping Machine Market Set to Expand at a Staggering 4.3% CAGR, Reaching USD 7.80 billion by 2032 | Polaris Market Research
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The market estimate is supported by the growing demand for coherent packaging solutions covering several industries.
New York, USA, Sept. 27, 2024 (GLOBE NEWSWIRE) — Market Outlook:
The global strapping machine market size is predicted to grow from USD 5.33 billion in 2023 to USD 7.80 billion by 2032. It is anticipated to grow at a CAGR of 4.3% from 2024 to 2032, according to the latest research report by Polaris Market Research.
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Market Introduction:
What is Strapping Machine?
Strapping machines are mechanical gadgets that can accelerate the procedure of encasing pallets or commodities in cabled plastic or homogenous substances, prohibiting the commodity from breaking apart or disintegrating in transit. These machines arrive in an assortment of sizes and types. There are hand-managed machines that have the capacity to be utilized by employees on a factory or a warehouse canvas. The benefit here is that they depend on compact batteries and are extremely mobile. Then there are archless strapping machines that are approximately the height of an assembly line permitting for seamless unification into any commodity setting up framework.
The strapping machine market is witnessing substantial demand owing to elements such as speedy urbanization, augmenting populations, and escalated global dealing bestowed to the demand. Industries look for dependable strapping machines to seal commodities in the course of conveyance, sanctioning commodity probity and encountering strict packaging norms amidst developing market fluctuations.
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Strapping Machine Market Report Features:
| Report Attributes | Details |
| Market value in 2023 | USD 5.33 billion |
| Market value in 2032 | USD 7.80 billion |
| CAGR | 4.3% from 2024 to 2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Critical Highpoints of Report:
- Various factors, including the usage of automated strapping machines, play an important part in guaranteeing congruous and safe packaging that productively lessens commodity destruction during the conveyance is driving the market for strapping machines.
- The market is primarily segmented based on product, machine material, application, end-user, and region.
- North America dominated the market with the largest strapping machine market share.
Strapping Machine Market Key Players
- EAM-Mosca Corporation
- Duplomatic MS Mechatronics BU
- Dynaric Inc.
- Fromm Holdings AG
- Messersi Packaging S.r.l.
- MJ Maillis S.A.
- Polychem Corporation
- Samuel Strapping Systems
- Signode Packaging Systems Corporation.
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Market Growth Drivers and Trends:
- Augmentation of E-Commerce: The market’s CAGR is pushed by the augmentation of e-commerce and progression in logistics technology. The rise in online shopping has notably escalated the proportion of goods shipped instantly to consumers.
- Safe Packaging for Commodities: The surge in manufacturing plants and production potential involves safe packaging for commodities in the course of conveyance and distribution. The packaging of commodities safely for shipment sanctioning penetrates their landing place unharmed, supporting the strapping machine market growth.
- Growing Urbanization: Augmenting populations and urbanization are pushing elevated demand for e-commerce and reinforcing the packaging industry. The trend additionally boosts the proceeds potential of the strapping machine industry as industries look for productive solutions to encounter escalating consumer and logistical demand.
Which Region is Leading the Market?
- Asia Pacific: Asia Pacific dominated the strapping machine industry with the largest revenue share. The region’s dominance in the market can be attributed to the growing aggregate of manufacturers, especially in China and India has generated an escalated demand for strapping machines foremost for packaging motives, thus pushing the growth of the market in this region.
- North America: North America is expected to witness the fastest growth in the strapping machine market over the estimated period due to a broad gamut of commodities from electronics to food items requiring productive and dependable packaging solutions.
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Segmental Overview:
By Product Outlook:
- Semiautomatic strapping machines
- Automatic strapping machines
- Fully automatic strapping machines
By Material Outlook:
- Polypropylene
- Polyester
- Steel
- Others
By Application Outlook:
- Bundling
- Binding
- Packaging
- Others
By End Use Outlook:
- Consumer goods
- Food and beverage
- Newspaper and publishing
- Postal
- Others
By Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Browse PMR’s Strapping Machine Market Report Coverage from Different Publications:
The global strapping machine market size is expected to reach USD 7.80 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.3% during the forecast period (2024 – 2032).
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