[FURL=https://www.industryarc.com/Research/Strapping-Machine-Market-Research-504186]Strapping Machine Market[/FURL] is forecast to reach $6.54 billion by 2024, after growing at a CAGR of 5.9% during 2019-2024. The strapping machines are widely employed in the packaging industry. With the rise in adoption of automation in industries, the demand for semi-automatic and automatic machines has significantly increased over the hand and manual strapping machines thereby impacting on the growth of the Strapping machines market.Key Takeaways
Asia-Pacific dominates the Strapping Machine market owing to high presence of the manufacturing, food and beverages industries that involve packaging.
Owing to the increasing adoption of automation in the industries is analyzed to dive the strapping machine market during the forecast period.
Semi-automatic strapping machines is analyzed to hold the highest market share owing to ease of installation.
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Application - Segment Analysis
Food and beverages are analyzed to hold the highest market share in the application segment. The highest market share is mainly attributed due to the wide range of packaging employed in the food industry in order to preserve food quality, thereby avoiding damage during transportation. Plastics is widely deployed in the strapping machines in food and beverage packaging. Apart from food and beverage industry, the strapping machines are widely deployed in the packaging of consumer and household appliances as well. Consumer and house hold appliances hold a significant market share after food and beverage as the goods are packed in order to protect the functionality and aesthetics of the appliance with high reliability during handling, shipping and storage.
Drivers – Strapping Machine Market
Growing demand for automation
The rising demand for the industrial automation at a global level is driving the strapping machine market. The significant rise in deployment of automatic and semi-automatic machines in almost all the packaging industries is analyzed to boost the strapping machines market. The employment of these machines in the firms increases the productivity and efficiency with minimal manual interference thereby reducing the cost.
Market Landscape: Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Strapping Machine market. In 2018, the market of Strapping Machine has been consolidated by the top players including Transpak Equipment Corp., Strapex, Signode Packaging Systems Corporation, Australian Warehouse Solutions, Dynaric, Inc., Polychem Corporation, Samuel Strapping Systems, Messersi Packaging S.r.l., MOSCA GmbH, StraPack Inc., Venus Packaging, MJ Maillis SA, among others.
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