According to a recent survey conducted by ChemView Consulting, the Global Strapping Devices Market grew at a CAGR of 3.8% between 2017-2021 and is estimated to be US$ 4,798.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.9% and is expected to reach a valuation of US$ 8,512.3 Mn by 2032 end.
Rapid expansion of end-use industries such as food & beverage, personal care, electrical & electronics, and healthcare, and rising demand for advanced packaging solutions are key factors driving the global strapping equipment market. The
Electric Strapping Tool uses strapping to reliably create strong seals that hold packages and other items securely. Strapping tools are used to strap large numbers of applications.
Manufacturers are investing in these devices to improve cost and product efficiency while prioritizing packaging safety and boosting the strapping machine market.
Similarly, increasing popularity of automatic strapping machines to minimize human intervention and reduce labor costs will further boost the sales of strapping equipment in the market during the forecast period. The automatic tying tool provides hands-free tying at the push of a button. Automatically strap more consistent packages.
Another new development of the
tying machine is the integration of the tying device into existing packaging lines to simplify the final packaging process. Increasing demand for strapping machines from the food and beverage industry is expected to play a key role in expanding the strapping equipment market during the forecast period.
However, the capital-intensive nature of the strapping machine industry and the high initial cost of production have discouraged many companies from entering.
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A list of some of the key suppliers present in the market are:
- Signode Industrial Group LLC
- Cyklop International
- Dynaric Inc.
- Polychem Corporation
- Samuel, Son & Co.
- StraPack, Corp.
- Tiger Pack, Inc.
- TITAN Umreifungstechnik GmbH and Co. KG
- Fromm Holding AG
- Hefei Seelong Import and Export Group Co. Ltd.
- Messersi Packaging Srl
- Mosca GmbH
- North Shore Strapping Inc.
- Packmaster Machinery Pvt Ltd
Report Coverage and Highlights
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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About ChemView Consulting:
ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, New & Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
Our client base ranges from industry experts, investors, top companies in the chemicals; and oil & gas industry to SMEs, start-ups, and new entrants. We have worked with over 100 companies to upscale their position as the global leader in the chemical & materials landscape with our cutting-edge analytics and advisory services.
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