Global Packaging Robots Market Surges to a Valuation of $7.05 Billion by 2028, Fueled by Automation and Cost Reduction Initiatives
Global Packaging Robots Market
Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Packaging Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global packaging robots market achieved a substantial size of US$ 3,198 Million in 2022, and it is poised for remarkable growth in the coming years. According to industry experts, the market is expected to reach a value of US$ 7,056 Million by 2028, exhibiting a remarkable compound annual growth rate (CAGR) of 12.8% during the period of 2023-2028.
Packaging robots are industrial robot systems designed to handle materials, move or pack items, and seal and label them efficiently. These robots, including articulated, cartesian, SCARA, and delta robots, are known for their ease of integration into manufacturing facilities, delivering high-quality, accurate, and consistent packaging. They offer enhanced reliability, efficiency, flexibility, and cost-effectiveness compared to human labor, reducing packaging errors, boosting productivity, and accelerating delivery times. In recent years, packaging robots have gained significant traction across various industries, including food and beverage, pharmaceuticals, consumer goods, chemicals, electronics, and logistics.
Key Trends Driving Market Growth
Automation and Cost Reduction: The need for high-degree automation to cut costs and minimize product wastage is a primary driver of market growth. Packaging robots automate production lines, reducing labor costs, enhancing efficiency, improving workplace safety, and minimizing product damage.
Demand for High-Quality Products: Growing consumer demand for high-quality products is driving the adoption of packaging robots. Companies are investing in these robots to ensure product quality and meet consumer expectations.
E-commerce Growth: The rapid expansion of the e-commerce industry has increased the demand for packaging robots, particularly for labor-intensive manual item picking tasks, to meet the surging demand for online shopping.
Modernization of Manufacturing: Leading companies in various sectors are investing heavily in modernizing their manufacturing facilities to boost productivity, efficiency, and output, driving the adoption of packaging robots.
Availability of Low-Cost Industrial Robots: The easy availability of affordable industrial robots is further propelling market growth, making it accessible to a broader range of businesses.
Pick and Place Applications: Emerging pick and place applications in various sectors, technological advancements, favorable government policies, ongoing R&D activities, product innovations, and rapid industrialization are providing additional impetus to market expansion.
Market Segmentation
The global packaging robots market is segmented based on various factors:
Gripper Type:
Clamp
Claw
Vacuum
Others
Application:
Picking and Placing
Packing
Tray Packing
Case Packing
Filling
Others
Palletizing
Case Palletizing
Bag Palletizing
De-Palletizing
End User:
Food and Beverage
Pharmaceutical
Consumer Products
Logistics
Others
Geographical Segmentation:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape
Key players in the global packaging robots market include ABB Ltd., Fanuc Corporation, FIPA GmbH, KRONES AG, KUKA AG, MIP Robotics, Mitsubishi Electric Corporation, ProMach Inc., Remtec Automation LLC, Schneider Electric SE, Syntegon Holding GmbH, and Yaskawa America Inc. (Yaskawa Electric Corporation).
Key Questions Addressed in the Report
How has the global packaging robots market performed and what are the growth prospects?
What impact has COVID-19 had on the market?
What are the key regional markets?
How is the market segmented by gripper type, application, and end user?
What are the factors driving market growth?
Who are the key players in the industry?
Key Attributes:
Report Attribute | Details |
No. of Pages | 144 |
Forecast Period | 2022 - 2028 |
Estimated Market Value (USD) in 2022 | $3198 Million |
Forecasted Market Value (USD) by 2028 | $7056 Million |
Compound Annual Growth Rate | 14.1% |
Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/50alrq
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