Strapping Machine Market: Overview
The market size for strapping machine was USD 4725.2 million in 2021, and it is projected to grow at a CAGR of 4.9 percent during the forecast period. One important element is considered to be the expanding demand in the packaging industry for a variety of applications. Due to their safety features, top-down or bottom-up strapping patterns, and strap guiding system, horizontal strapping machines are more popular than vertical ones. Since correct wrapping of goods or packages is a top issue, manufacturers choose horizontal strapping machines as online shopping grows. Additionally, horizontal strapping machines are expanding rapidly in Asia Pacific's rising nations like China and India. The food and beverage industry is driving the rise of horizontal strapping machines in most industries as a result of factors like rising disposable income and shifting lifestyles.
Numerous chances for industry growth would be created by the expansion of well-established corporations into emerging nations and the introduction of strapping equipment at reasonable prices for use in small and medium-sized businesses. To address the expanding client needs, industry providers are introducing new goods. In order to improve their market offers and broaden their consumer base, the industry giants are also acquiring and partnering with leading businesses. For instance, in order to diversify its product line and increase its market share, Mosca debuted entry-level semi-automatic items in July 2017. Users may strap small quantities of goods while keeping great quality and performance thanks to the reasonably priced MO-M-8 machine. The strapping equipment also has an illuminated service push-button for recording heating temperatures and checking the system's current functioning status.
A large increase in demand for safe and stable packaging is anticipated in a number of application industries, including newspaper and graphics, food and beverage, metal, construction, pharmaceutical, consumer electronics, and home appliances. The primary driver behind the growth of the strapping machine market is the strapping machine's capacity to safely and steadily secure packaged goods to ensure correct handling, storage, and delivery. Strapping is necessary to join, hold, stabilize, and fasten the products utilized in the aforementioned application categories. These processes are mostly used to convey packed goods, when a machine makes a strap or band to hold the items together. Machine use across a range of industries, including general packaging and commercial & newspaper printing, is anticipated to propel expansion during the projection period.
Strapping Machine Market: COVID-19 Impact
The COVID-19 epidemic has caused a worldwide lockdown, which has caused the manufacture of many products in the strapping machine industry to cease. This has slowed the market's growth for strapping machines over the past several months and is probably going to do so through 2021. In the first quarter of 2021, COVID-19 already had an influence on the sales of strapping machines, and it is predicted to have a negative effect on the market growth for the entire year. The U.S., Germany, Italy, the United Kingdom, and China, which are heavily dependent on manufacturing and are badly impacted by the coronavirus's spread, used to account for the majority of the demand for strapping machines. Furthermore, the lockdown's potential effects are now unknown, and a company's ability to recover financially depends entirely on its cash reserves. Manufacturers of strapping machines can only sustain a complete lockdown for a limited period of time before the participants must change their investment strategies. For instance, in order to cut costs, a number of market participants temporarily stopped their output. A small number of players also implemented employee layoffs to survive the COVID-19 health issue.
Strapping Machine Market: Drivers
Growing Demand from E-Commerce Sector to Drive Market Growth
Strapping machines are being used in warehouses to wrap plastic or other items to reduce mechanical damage, which is encouraging market growth as major e-commerce platforms like Amazon and eBay to enhance their logistics. Since strapping equipment is most frequently used in the e-commerce industry, it is predicted that the demand for it will grow. The majority of industries are concentrating on boosting production through faster packing and 360-degree protection of big cargoes. Additionally, completely automatic strapping machines are economical and eliminate the need for labor for strapping, which is why they are widely used and are promoting the market's expansion. Additionally, as the e-commerce industry grows, there will be greater demand for packaging tapes for sealing and strapping. For instance, there were 27 million online shoppers in Canada in 2021. By 2023, 5.21 million more people are anticipated to purchase online, according to data made available by the export Government. These elements will fuel market expansion throughout the upcoming years.
Rising Demand for Product Packaging to Drive Market Growth
In the packaging sector, strapping machines are frequently utilized for use in a variety of applications, including food and beverage, consumer goods, newspapers, and commerce products. Strapping is required for the protection of these merchandise products to combine, hold, stabilize, and secure the goods. These processes are mostly used to convey packed goods when a machine makes a strap or band to hold the items together. Machine use across a range of industries, including general packaging and commercial & newspaper printing, is anticipated to propel expansion during the projection period.
Strapping Machine Market: Restraints
Safety Concerns to Hamper Market Growth
The operators of large operations must prioritize safety as their top priority, which could impede market expansion. Different authorities, including the HSE, BS, and others, have established standards for the operator's safety in order to address the safety issues. The health and safety regulations are also made to give instructions on how to install, run, and perform other maintenance tasks on strapping machines. Additionally, the market for strapping machines is anticipated to be hampered by high capital expenditure, the availability of traditional machines, and the usage of aluminum as a strapping replacement.
Strapping Machine Market: Segment Overview
Semi-Automatic Segment to Dominate Market due to its Various Applications
The semi-automatic market segment had the highest market value in 2021 and is anticipated to expand significantly between 2022 and 2027. In the packaging sector, the semi-automatic category has a wide range of applications. There are two varieties of semi-automatic available: low volume and intermediate volume. Small businesses with modest packing needs might make use of this equipment. In addition, businesses that offer continuous shipment of goods use semi-automatic equipment of the modest volume variety.
With Increased Demand for Packaging Food, Food and Beverage Industry Dominated Market
The global market is divided into chemical & petrochemical, oil & gas, food & beverages, healthcare, agriculture, and others by industry vertical. The largest industry using strapping machines for packing and wrapping was the food and beverage industry. Demand is being driven mostly by the growing significance of packaging in protecting food and beverage products. When moving food products, strapping is crucial to preserving the usability and quality of the goods.
Strapping Machine Market: Regional Landscape
Asia Pacific to Dominate Market due to Growing Demand for Food and Beverage Industry
During the anticipated period, Asia Pacific held the largest market share for strapping machines worldwide. Over the past few years, the region's consumer goods, food, and beverage industries have experienced tremendous growth, enabling the expansion of the industry's products. The region's emerging nations' expanding disposable incomes and growing need for efficient packing to prevent losses from damages fuel industry expansion in the area. To take advantage of the growing potential given by Malaysia, Indonesia, and Indonesia, major international companies are increasing their presence there.
Due to the region's rapid expansion in the packaging of consumer goods and food, strapping machines are predicted to have considerable growth in North America. Over the course of the forecast period, the market is anticipated to be driven by rising packaged food and ready-to-eat product demand in the United States. Additionally, shifting food consumption patterns and rising income levels are anticipated to fuel market expansion in this area. While MEA is anticipated to have modest growth in the strapping machine market, Europe is anticipated to experience an above-average rise in demand.
Global Strapping Machine Market: Competitive Landscape
UCB is a completely automatic corrugated cardboard strapping machine that MOSCA International, a renowned manufacturer of strapping solutions, offers. It is outfitted with a banding system to assure the highest level of transport security. Customers can anticipate that glossy printed materials or other delicate products will reach at their destination completely undamaged thanks to MOSCA's innovative banding system. It was created with the assistance of ATS Tanner. As a result, MOSCA has improved its ability to support its clients' processes and create novel techniques for its standard models. Additionally, having both banding and strapping capabilities in a single machine enables customers to adjust their bundling procedures as necessary. Moreover, for packaging and fastening, Duo Plast created automatic pallet strapping devices from PAMMINGER. Pamminger provides a broad selection of dependable, individually tailored equipment for serial manufacturing. In addition to being strong, they are also very effective.
Few of the players in the Strapping Machine Market include Dynaric Inc.; Fromm Holdings AG; Messersi Packaging S.r.l.; MJ Maillis S.A.; Mosca GmbH; Polychem Corporation; Samuel Strapping Systems; StraPack Inc.; Strapex Group; Transpak Equipment Corp.; Signode Packaging Systems Corporation.
Global Strapping Machine Market is Segmented as Below:
Key Elements Included In The Study: Global Strapping Machine Market
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