Global Packaging Robot Market: Snapshot
The global packaging robot market is expected to draw growth on the back of several domestic and multinational organizations operating in different industries around the world that adopt robotics as an indispensable slice of their business strategies. On a worldwide platform, the growth of the global packaging robot market could be catapulted with mounting concerns over overall equipment effectiveness (OEE) and safety and advancement in various manufacturing sectors.
The global packaging robot market is forecasted to reach a valuation of US$5.03 bn by 2024 while rising at a CAGR of more than 14.0% between 2016 and 2024. In 2016, the global packaging robot market had acquired a US$1.67 bn.
Picking Robots Lead with Higher CAGR but Packing Robots Stay Attractive
The sales quotient of the world packaging robot market is anticipated to be bolstered by the augmenting demand of industrial robots in packaging and pick and place applications. During the aforementioned forecast period, packing robots could attract a high demand and expand at an over 14.5% in the world packaging robot market. Nonetheless, compared to the overall sales of packaging robots during the same period, picking robots are predicted to register a higher CAGR. Since different robots are engaged for different applications, the demand for application-specific robots could also vary.
According to end use, industrial packaging is envisaged to showcase dominance in the world packaging robot market throughout the course of the forecast period, compared to tracking and logistics, consumer products, pharmaceuticals, and food and beverages. However, industrial packaging could record a reasonably slower growth until the concluding forecast year, which gives an opportunity for other end-use segments to make a comeback. The world packaging robot market is envisioned to witness the rise of consumer products, closely following industrial packaging, in the near future.
After conducting an exhaustive analysis of the world packaging robot market and its penetration, adoption, and sales in industrial packaging and consumer products, the researchers foresee a bright future for manufacturers. Food and beverages is anticipated to go past a handsome CAGR growth while other end-use markets such as tracking and logistics could grow at a slightly lower pace. Nevertheless, tracking and logistics packing robot suppliers are foretold to receive a telling demand with the rise of unloading and loading industrial applications.
China Aids Asia Pacific Dominate with both Sales Value and Volume
In terms of geography, Asia Pacific could record a larger share in the international packaging robot market with countries such as China operating in the limelight. In comparison with other Asia Pacific markets, China is foreseen to exhibit a higher sales value as well as volume. High potential markets of the Asia Pacific region could roof a substantial presence of most multinational firms. However, the surging penetration of Chinese suppliers is projected to aggravate the competition in the region. The larger market size of Asia Pacific could be envied by Europe and North America progressing at close quarters.
With the demand for regular crest and trough, the sale of packaging robots is prophesied to stay moderate. Howbeit, it could demonstrate an upward growth trend in less developed countries. This is expected to be primarily on account of the escalating level of automation across diverse end-use industries. Compared to the Asia Pacific and Europe regions, the Middle East and Africa and Latin America could reveal a fairly slower rate of sales in the international packaging robot market.
Players such as Mitsubishi Electric Corporation, ABB Limited, Yaskawa Electric Corporation, Kuka Roboter GmbH, and Fanuc Corporation are predicted to make a significant mark in the international packaging robot market.
This report provides forecast and analysis of the packaging robot market on the global and regional level. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (units) and revenue (US$ Mn). It includes drivers and restraints of the packaging robot market along with their impact on demand during the forecast period. The report also comprises the study of opportunities available in the market for packaging robot on the global and regional level.
In order to provide the users of this report with comprehensive view of the market, we have included detailed competitiveness analysis and company players with unique selling propositions. The study encompasses market attractiveness analysis, by application, gripper type and end-use industries.
Segmentation comprises demand for individual robot and end-users in all the regions and important countries in the region. Application segment includes current and estimated demand of industrial robots for applications such as picking, packing and palletizing. While gripper segment includes present and forecast demand for packaging robot with grippers such as claw, clamp, vacuum and others (Pneumatic and Hydraulic). End-use industry segment includes demand for packaging robots in industries such as food & beverages, pharmaceuticals, consumer products, tracking and logistics and industrial packaging.
Market numbers have been estimated based on the average usage of packaging robots for different kinds of applications such as picking, placing, palletizing, de-palletizing, tray packing, case packing and filling among others. Market size and forecast for each segment have been provided in the context of global and regional markets. Market dynamics prevalent in China, Japan, South Korea, North America, and Europe have been taken into account for estimating the growth of the global market. Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. The packaging robot market has been analyzed based on expected demand. Market data for each segment is based on demand volume and corresponding revenue. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous regional manufacturers, suppliers, and distributors. All market numbers have been derived on the basis of demand for packaging robots in different applications in different regions. All existing key end-users have been considered and potential applications have been estimated on the basis of secondary sources and feedback by primary respondents. Regional demand patterns have been considered while estimating the market for various end-users of packaging robot in different regions. We have used the top-down approach to estimate the global packaging robot market, split by regions. The global application segment and end-user split of the market has been derived using the bottom-up approach, which is cumulative of each region’s demand. Regional demand is the summation of sub-regions and countries within a region. Market share of companies has been derived on the basis of revenues reported by key manufacturers. The market has been forecast based on constant currency rates
Several primary and secondary sources were consulted during the course of the study. Secondary sources include OneSource, Factiva, Hoover’s, International Federation of Robotics (IFR), Robotics Industries Association (RIA), Magazines published by the ABB Limited and company annual reports and publications among many others.
The report provides detailed competitive outlook including market shares and company profiles of key participants operating in the global market. Key players in the global packaging robot market include Fanuc Corporation, Kuka Roboter GmbH, Yaskawa Electric Corporation, ABB Limited, Mitsubishi Electric Corporation, Bosch Packaging Technology and Schneider Electric SE among others. Company profiles include attributes such as company overview, financial overview, business strategy and recent developments.
The market has been segmented as below:
Packaging Robot Market - Application
- Case Packing
- Tray Packing
- Case Palletizing
- Bag Palletizing
Packaging Robot Market – Gripper Type
Packaging Robot Market – End-use Industries
- Food and Beverages
- Consumer Products
- Tracking and Logistics
- Industrial Packaging
- Electronics Devices
Packaging Robot Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA