According to a new report published by Allied Market Research, titled, Packaging Robots Market by Gripper Type, Application and End User: Global Opportunity Analysis and Industry Forecast, 2016-2023, 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.
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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.
The major players profiled in this report include 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, and Remtec Automation LLC.
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Key Market Segments
By Gripper Type
- Pick & place
- Case packing
- Tray packing
- Case palletizing
- Bag palletizing
- Food & beverage
- Consumer products
- North America
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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