The global packaging robots market is highly competitive, with a number of players adopting branding strategies in order to level their revenues up, observes Transparency Market Research (TMR). Presently, the top ten market leaders including Yaskawa Electric Corporation, ABB Ltd., KUKA Roboter GmbH, and FANUC Corporation account for a share of 32% in the global market for packaging robots.
The competitive landscape has been witnessing several joint ventures, acquisitions, and mergers. For instance, in December 2015, Bosch Packaging Technology established a joint venture with India-based Klenzaids Contamination Controls Private Limited. Similarly, Roboter GmbH formed a strategic collaboration with Huawei Technologies Co. Ltd. in March 2016. Research and development is another business strategy of these firms. For example, FANUC Corporation collaborated with U.S.-based software company, Preferred Networks Inc. to focus on machine learning and deep learning technologies,that enhance the intelligence of machine tools and robotics.
In terms of value, the global market for packaging robots was pegged at US$1.67 bn in 2016. It is expected to reach US$5.03 bn by the end of 2024.
Augmenting Consumption of Food Propels Demand
By geography, the global market for packaging robots is expected to be dominated by Asia Pacific, accounting for a massive share of 64.5% by 2024. The growing adoption of packaging robots in FMCG and food and beverage industries has been promoting the growth of the packaging robots market in this region.
By application, the picking segment held the largest share of 39% in terms of value in 2016. Growing consumption of consumer products, food and beverages, and changing lifestyles are responsible for the prominence of this application segment.
Growing Demand for Automation Spurs Growth
The growing acknowledgement of upgrading the industrial infrastructure in the developing economies has been one of the primary growth drivers of the global market for packaging robots. Packaging robots do not only reduce the need of manual skills for palletizing, packing, and picking, but also speed up the entire process of packaging. As a result, a number of manufacturers are displaying concerns about enhancing the efficiency of production of goods and at the same time leveraging improved operation management strategies. Robotic installations also ensure optimization and flexibility of the overall capacity of the packaging line.
Moreover, packaging robots are capable of operating in a variety of working environments and temperature ranges, apart from occupying lesser amount of floor spaces when compared with human labor. As packaging robots are gaining increased acceptance over a wide range of industries such as consumer good, food and beverage, and pharmaceuticals, the global demand for packaging robots is expected to fire up.
On the other hand, the requirement of considerable investment in terms of installation and maintenance of packaging robots can impede the growth of the market. Additionally, inadequate skilled personnel needed for maintaining automation of the packaging line might also create hurdles for the global packaging robots market. However, the emergence of new technologies such as vision sensor technology can enable the market to recover from these deterrents over time. The size, shape, and color of the packages can be assessed by the use of vision sensor technology, improving efficiency of the packaging process.
The information presented in this review is based on a Transparency Market Research report, titled, “Packaging Robot Market (Application - Picking, Packing (Tray and Cases), Palletizing (Case Palletizing, Bag Palletizing, and De-palletizing); Gripper Type - Clamp Type, Claw Type, and Vacuum); End Use Industry - Food, Beverages, Cosmetics & Personal Care, Pharmaceuticals, Tracking, Logistics, and Transport, Chemical Manufacturing, and Consumer Goods) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
Key Segments of the Global Packaging Robots Market
Global Packaging Robots Market, by Application
Global Packaging Robots Market, by Gripper Type
Global Packaging Robots Market, by End Use Industry
Global Packaging Robots Market, by Region
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