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The strapping machine market share is expected to increase by USD 1.75 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.75%.
This strapping machine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers strapping machine market segmentation by product (automatic and semi-automatic) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The strapping machine market report also offers information on several market vendors, including ASN Packaging Pvt Ltd., Crown Holdings Inc., Crown Packaging Corp., Cyklop International, Dongguan Xutian Packing Machine Co. Ltd., Dynaric Inc., Fromm Holding AG, Hefei Seelong Import and Export Group Co. Ltd., Hunan ADTO Industrial Group Co. Ltd., Messersi Packaging Srl, Mosca GmbH, North Shore Strapping Inc., Packmaster Machinery Pvt Ltd., Polychem Corp., Samuel Son and Co. Ltd., StraPack Corp., Tiger Pack Inc., TITAN Umreifungstechnik GmbH and Co. KG, Transpak Equipment Corp., and VENUS HARTUNG PTY LTD. among others.
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The rising demand for strapping machines from the e-commerce sector is notably driving the strapping machine market growth, although factors such as the emergence of robots in the strapping process may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the strapping machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Strapping Machine Market Driver
One of the key factors driving the global strapping machine industry growth is the rising demand for strapping machines from the e-commerce sector. As significant e-commerce platforms such as Amazon and eBay improve their logistics, strapping machines are being used in warehouses to wrap plastic or other materials to minimize mechanical damage, boosting the market growth. Furthermore, fully automatic strapping machines are cost-effective and remove labor costs for strapping, due to which these are being extensively used and are fueling the growth of the market. Furthermore, as the e-commerce business expands, the need for sealing and strapping packages tapes will increase. For instance, in 2021, there were 27 million e-commerce users in Canada. It is expected that an additional 5.21 million users will be shopping online by 2023, according to data released by the export Government. Such factors will drive the market growth in the forecast period.
Key Strapping Machine Market Trend
High growth potential in emerging economies is one of the key strapping machine market trends that is expected to impact the industry positively in the forecast period. The rapid increase in industrialization and economic developments in China, India, and Japan are the key factors influencing the demand for strapping machines in the region. APAC has progressed from rolling out macroeconomic policies pertaining to inclusive growth, decent job formations, economic stability, and economic transformation that include efforts to accelerate revenue growth in commodity-exporting countries. The steady rise in China, India, Japan, Australia, and New Zealand has also boosted the region's GDP over the last few years. In addition, APAC is one of the leading producers of electrical and electronic products and automobiles and contributes to high global demand with strong performances from China, Japan, and India. Thus, the growth of the transportation, electronics, and packaging industries in emerging economies will support the market growth during the forecast period.
Key Strapping Machine Market Challenge
One of the key challenges to the global strapping machine industry growth is the emergence of robots in the strapping process. The various end-users of industrial and transit packaging are facing problems in handling the proliferation of products of different shapes, sizes, and weights. Therefore, manufacturers have started creating strapping machines with robotic facilities for the convenience of end-users. For instance, Samuel Packaging Systems Group offers an ingot strapping machine with a robot stacker. The robotic arm attached to the palletizer gathers and stocks ingots in multiple layers for strapping. This completely avoids the requirement for manpower. The average price of robotic equipment is around 40% more than that of conventional automated equipment. Such factors are expected to limit the market opportunities of conventional strapping machine providers in the forecast period.
This strapping machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global strapping machine market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the strapping machine market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the strapping machine market encompasses successful business strategies deployed by the key vendors. The strapping machine market is fragmented and the vendors are deploying growth strategies such as M and A and expansion of distribution channels to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The strapping machine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the strapping machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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34% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for strapping machines in North America. Market growth in this region will be faster than the growth of the market in Europe.
The significant increase in the demand for strapping machines from end-user industries such as paper and printing, steel, and tiles will facilitate the strapping machine market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
North America is one of the primary regions severely affected by the COVID-19 pandemic in 2020. The pandemic led many government organizations in the region to declare a total lockdown to contain the spread of the disease. The pandemic negatively affected end-user industries in various countries in the region due to lockdowns, travel restrictions, and business shutdowns. However, in the first half of 2021, several countries in North America lifted lockdowns and resumed their production and manufacturing activities, owing to the ramping up of the vaccination drives all over the region. Therefore, the demand for strapping machines is expected to increase during the forecast period.
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The strapping machine market share growth by the automatic strapping machines segment will be significant during the forecast period. The significant increase in the demand for automatic strapping machines from the food and beverage industry owing to the rapid growth of the industry will facilitate the market growth through this segment in the coming years. For instance, the global food and beverage industry is expected to account for around USD 529.66 million by 2028.
This report provides an accurate prediction of the contribution of all the segments to the growth of the strapping machine market size and actionable market insights on post COVID-19 impact on each segment.
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Strapping Machine Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.75% |
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Market growth 2022-2026 |
$ 1.75 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.07 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 34% |
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Key consumer countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ASN Packaging Pvt Ltd., Crown Holdings Inc., Crown Packaging Corp., Cyklop International, Dongguan Xutian Packing Machine Co. Ltd., Dynaric Inc., Fromm Holding AG, Hefei Seelong Import and Export Group Co. Ltd., Hunan ADTO Industrial Group Co. Ltd., Messersi Packaging Srl, Mosca GmbH, North Shore Strapping Inc., Packmaster Machinery Pvt Ltd., Polychem Corp., Samuel Son and Co. Ltd., StraPack Corp., Tiger Pack Inc., TITAN Umreifungstechnik GmbH and Co. KG, Transpak Equipment Corp., and VENUS HARTUNG PTY LTD. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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