$4.64 Billion Packaging #Robots Market 2017 by Gripper Type - Global Opportunity Analysis and Industry Forecast, 2016-2023
DUBLIN - August 11, 2017 (Investorideas.com Newswire) The "Packaging Robots Market by Gripper Type - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to Research and Markets' offering.
The packaging robots market size was valued at $2471 million in 2016 and is projected to reach $4,649 million by 2023, growing at a CAGR of 9.6% from 2017 to 2023.
Vacuum gripper type dominated the global packaging robots market and is expected to maintain the trend till 2023. However, Asia-Pacific is expected to dominate the market throughout the forecast period due to increase in demand for automated technologies in various industries.
Increased demand of robots for increased packaging efficiency, improved supply chain process, rising need for automation in industries, and reduced operational costs drive the growth of the global packaging robots market. In addition, the growth of the global robotic industry and continuous growth in e-commerce and retail sector is projected to create lucrative opportunities for the global packaging robots market. However, high installation costs, heavy capital investment, and shortage of skilled labor hamper the packaging robots market growth.
Packing applications dominated the packaging robots market in 2016 and case packing accounted for the maximum share, constituting around 48% in 2016. Side loading case packing machines have witnessed significant adoption in the packaging industry as it is equipped with horizontal carton magazine for easy loading. However, bagging and cartoning is expected to exhibit the fastest growth rate because cartoning machines to ensure eradication of manual labor and make the whole automated packaging process quite efficient.
Pick & place robots gained popularity and are anticipated to grow the fastest during the forecast period. The Pick & place robot systems are flexible and can be easily programed. In addition, these systems improve product quality and cycle time because of consistent processing. Hence, these robotic systems are projected to grow at a CAGR of 11.4% by 2023.
Among the major industry verticals, the packaging robots find widespread usage in food & beverage industry, which accounted for more than 35% share in 2016 owing to increased order volume of fresh food & beverage products. This segment is estimated to witness significant growth during the forecast period due to improving production processes, lowering labor intensity, and timely delivery of materials.
Asia-Pacific region accounted for the maximum market share in packaging robots industry 2016, and is expected to maintain its lead throughout the forecast period. This is attributed to heavy investment by consumer products and food & beverage industry players in automation. LAMEA region exhibited significant growth due to increased demand of production from consumer markets. Especially, emerging countries such as Brazil facilitates the market growth.
KEY MARKET SEGMENTATION
BY GRIPPER TYPE
- Pick & place
- Case packing
- Tray packing
- Case palletizing
- Bag palletizing
BY END USER
- Food & beverage
- Consumer products
- ABB Limited
- Krones AG
- Fanuc Corporation
- Schneider Electric SE
- Yaskawa America Inc.
- Mitsubishi Electric Corporation
- Bosch Packaging Technology (Robert Bosch GmbH)
- Brenton Engineering
- Kuka Roboter GmbH
- Remtec Automation LLC.
OTHER PLAYERS IN THE REPORT
- Brokk AB (SE)
- Durr Systems
- Amada Co Ltd.
- FIPA GmbH
- Kejie Group
- Star Seiki Co
- Ylog GmbH
- Weiss Robotics
- Suzhou GST Technology
For more information about this report visit https://www.researchandmarkets.com/research/t9cpc3/packaging_robots
Research and Markets
Laura Wood, Senior Manager
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Packaging, Robotics
TechSectorStocks.com - investing ideas in tech stocks- mobile payments, social media, AI and Robotics, Drone Stocks, GPS, Internet of Things (IoT)
Like Tech Stocks? View our Tech Stocks Directory
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.