In the world economic growth, the Strapping Machines industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Strapping Machines market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Strapping Machines market size will be further expanded, we expect that by 2024, The market size of the Strapping Machines will reach XXX million $.
Overview
There are several different applications of strapping machines, which have helped many companies in various industries. Strapping and holding have become increasingly more important since technology has advanced and manufacturing processes have become less labor-intensive. As well as this, the number of workers involved in carrying out various tasks related to strapping has been on the rise, causing injuries to them. This has led to the development of safer and more efficient applications of technology that can help to eliminate this risk and reduce overall risk to workers. The global strapping machines market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global strapping machines market is expected to witness significant growth during the forecast period, owing to growing investment from manufacturers to achieve cost and product efficiency.
Market Drivers
Increasing demand from the food and beverage industry is expected to drive growth of the global strapping machines market during the forecast period. Strapping machines are used to seal a product in plastic material or metal, in order to secure it while it is being transported. According to the Food and Drink Federation (FDF), in 2020, the food and drink manufacturing sector contributed around US$ 38.45 billion to the U.K. economy, growing by 2.3% as compared to 2019. Thus, such factors are expected to drive growth of the global strapping machines market during the forecast period. Furthermore, growing investment from manufacturers to achieve cost and product efficiency is expected to propel the global strapping machines market growth over the forecast period.
Market Restraint
High capital investment and maintenance costs are expected to hamper the global strapping machines market growth over the forecast period.
Regional Insights
Among regions, North America is expected to witness significant growth in the global strapping machines market during the forecast period. This is owing to rapid growth of food & beverage, consumer goods, and construction sectors across the region. Moreover, Asia Pacific is expected to register a robust growth rate, owing to rising disposable income across the region.
Competitive Section
Key players involved in the global strapping machines market are Signode, Polychem, Yongsun, StraPack, Mosca, Cyklop, MJ Maillis, and Samuel Strapping Systems.
Major market players are focused on product launches, in order to enhance the product portfolio. For instance, in April 2021, Kwikpac launched a new strapping tool ‘Bondmarked’ to meet consumer demands.
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
Signode
MJ Maillis
Cyklop
Fromm
StraPack
Mosca
Samuel Strapping Systems
Transpak
Polychem
Yongsun
Xutian Packing Machine
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Fully Automatic Strapping Machines
Automatic Strapping Machines
Semi-automatic Strapping Machines
Industry Segmentation
Food & Beverage
Consumer Electronics
Household Appliances
Newspaper & Graphics
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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