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Packaging Robots Market Is Expected to Grow Rapidly Due to Increased Demand for High Automation in Packaging Line

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July 7, 2017 in Economics

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Global Packaging Robot Market Report, published by Variant Market Research, forecast that the global market is expected to reach $5 billion by 2024 from $2 billion in 2016, growing at a CAGR of 14.6% from 2016 to 2024. By geography, Asia-pacific and Rest of the World are expected to grow at a CAGR of 17.2% and 12.1%, respectively, during the forecast period.

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Major drivers of global packaging robot market include, growth in manufacturing industries, increased demand for high automation in packaging line, and requirement for intelligent modernization to decrease product delivery time. However, high capital investment is a major challenge for the market players. Various innovative features such as high accuracy and low product damage offered by packing robots would unfold various business opportunities for the market in the near future.

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The global packaging robot market has been bifurcated on the basis of application, gripper type, and end user. By application, the market is categorized into palletizing robots, packing robots, and picking robots. The palletizing robot segment accounted for the largest market share in 2016, owing to its huge demand in loading and unloading of goods. The picking robot segment is projected to grow at the fastest CAGR during the forecast period 2016 – 2024, driven by amplified demand of packaging robots in picking application such as FMCG industries.

By gripper type, the market is further divided into vacuum gripper, clamp gripper, claw gripper, and others. The vacuum gripper was the maximum revenue generating segment in the overall gripper type segment in 2016, owing to its huge demand for secondary packaging applications in various industries such as electronics, food and beverage, film packaging, card board, and others.

By end user, the market is segmented into consumer products, food & beverages, cosmetic & personal care, pharmaceutical, industrial packaging, tracking, logistics & transport, and chemical manufacturing. The industrial packaging segment dominated the end user segment accounting for more than one-third of the total market share in 2016, owing to increasing demand for industrial robots across chemical and electronic industries.

Based on Geography, the global packaging robot market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the world (RoW). In 2016, Asia-Pacific accounted for the largest market share of 66.3% driven by increased adoption of automation across food & beverage, and FMCG industries. Europe accounted for the second largest market share of 21.8%, owing to rise in consumption of food and other consumer products. Asia-Pacific is to grow at the fastest CAGR of 17.2% during the forecast period 2016-2024. The high growth is majorly seen owing to growing demand for packaged products in the developing economies such as China and India. Major companies operating in the global packaging robot market include Bosch Packaging Technology, Mitsubishi Electric Corporation, Fanuc Corporation, Kuka Roboter GmbH, Yaskawa Electric Corporation, ABB Limited, Schneider Electric SE, Yamaha Robotics, Intelligent Actuator and Schneider Electric SE., among others.

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Variant Market Research LLP was delineated in 2015 and to launch our business and website it grabbed more than a year. Our head office is based in Pune and we also have branch in San Francisco, California, the U.S. The long time was generally used to build up a talented team of experienced professionals and analysts, to generate client satisfying exact market analysis data. The company aims to be a specialist in delivering reports on various domains with precise analysis, keeping a virtuous relationship with our consumers. Our vision says, “We would like to grow with you, making your paths simpler yet solidest” and our mission is to “Implementing our analytical, technical and marketing skills to set a new goal for our consumers, dedicatedly helping them take their next strategic moves.”

The Co-founders of Variant Market Research: M/S Shweta Shubham and Mr. Yogesh Godse are keen to provide services across aforementioned domains helping them to take their strategic moves regarding their business and providing them the growth opportunities. The Co-founders say, “We believe in providing the future solutions for your business, exploring the current market trends and suggesting you the future strategies and forecast of a particular market that could keep your company ahead in the competitive market rivalry.” We hold expertise in our designated areas of research and consulting with a team of experts from each of the dedicated areas covered under our research. Destined by the dedicated team of analysts and experts, we are envisioned to provide you our best in order to plan your next strategic move and take your company’s future ahead with our support and your esteemed cooperation.

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