Metal strapping machine market is growing at a phenomenal rate
NEWARK, Del, Aug. 08, 2022 (GLOBE NEWSWIRE) — According to the IMF, the global metal strapping machinery market size is expected to reach a valuation of $1 Bn by 2032 and see growth at a healthy CAGR of 3.9% from 2022 to 2032.
A banding machine is a device that uses a stainless steel strap to wrap a product in a huge container. These machines are widely used to pack heavy and bulky goods for transportation and logistics purposes. These often use metal straps of different widths and each metal strap has individual potential.
Over the past decade, advances in technology have prompted manufacturers of packaging solutions, including metal strapping machines, to come up with new products with modernized mechanisms. Additionally, the demand for automatic metal strapping machines has increased due to the global acceptance of Industry 4.0.
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The transportation and logistics industry is expected to drive the growth of the market with the increasing use of automatic metal strapping equipment to pack goods in minimum time.
Key Takeaways: Metal Strapping Machine Market
- Global Metal Strapping Machine Market Set to Grow 1.5x over the forecast period.
- India Metal Strapping Machine Market is expected to be valued at around $31 min in 2022.
- The German metal strapping machine market is expected to create an absolute dollar opportunity of around $17 min during the forecast period.
- By type of automation, the automatic segment should generate a total incremental opportunity of $216 min in the next decade.
- Based on orientation, the horizontal metal strapping machine segment is estimated to hold the largest share of 69% end of 2032.
“High demand for metal strapping machines to protect cargo during transportation and shipping is expected to drive the market growth. Additionally, growing demand for these machines in heavy industries such as building and construction, shipping and logistics, and automotive would support growth,” an IMF analyst comments.
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Development of innovative metal strapping machines to drive growth
Many developed countries spend huge sums on research and development to provide automated solutions to industries. Several packaging machine manufacturers are also striving to generate more market share by investing in the development of new machines with full functionality and customization.
End users are looking for innovative machines that can handle multiple tasks at the same time, saving time and labor costs, as well as increasing profits. These factors would push the sales of automated strapping machines in the coming years.
Rise in international trade to propel metal strapping machine market
The shipping and logistics industry plays an important role in accelerating international trade. Metal strapping machines are widely used in industry to transport goods with strong and durable straps.
These goods are heavy and bulky, so they should be packed with metal straps to prevent damage and other accidents. Rising import and export activity across the globe is expected to drive the market over the next decade.
Competitive Landscape: Metal Strapping Machines Market
Some of the major companies operating in the metal strapping machine market include Signode Industrial Group LLC, Fromm Holding AG, Dongguan Xutian Packing Machine Co. Ltd., Cyklop International, North Shore Strapping Inc., Polychem Corporation, Transpak Equipment Corp, VENUS HARTUNG PTY LTD, GTI Industries Inc., Bystronic Laser AG, TRUMPF GmbH + Co. KG, transfluid® Maschinenbau GmbH, WAFIOS AG, Pines Engineering & H&H Tooling, SOCO Machinery, Euromac, Schwarze Robitec GmbH, Numalliance, Inductaflex Ltd. and Stierli Bieger AG.
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Get more insights into Metal Strapping Machinery Market
Future Market Insights, in its new report, offers an unbiased analysis of the global metal strapping machine market by automation (manual, semi-automatic and automatic) and orientation (horizontal strapping machine and vertical strapping machine), across seven regions .
Metal Strapping Machinery Market Outlook by Category
- Horizontal Metal Banding Machine
- Metal Vertical Banding Machine
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market Context
4. Global Metal Strapping Machines Market Analysis 2015-2021 and Forecast, 2022-2032
5. Global Metal Strapping Machines Market Analysis 2015-2021 and Forecast 2022-2032, by Automation
To be continued…!
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