End-of-line Packaging Market to Maintain Healthy CAGR in Coming Years, 2024
Sarasota, FL -- (SBWIRE) -- 08/02/2017 -- The end-of-line packaging solutions mainly eliminate the requirement of regularly finding and training a new workforce. They also allow the employers to utilize the available workforce to more value-adding tasks, which results in reduced labor costs along with improved workplace.
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Manufacturers are mainly focusing on innovative methods in packaging format and cost-effective solutions. This is one of the factors impacting the demand for customized integrated solutions in a positive way, which in turn is expected to offer cost-effective solutions by reducing labor costs along with innovative end-of-line packaging. End-use industries are experiencing high demand for customized end-of-line packaging solutions; hence, this segment is anticipated to witness growth in the near future. In addition, rising demand for the high degree of automation in packaging and its advantages of reduced labor and packaging costs is anticipated to boost the demand for end-of-line packaging solutions in future. Moreover, the need of the manufacturers to modernize manufacturing facilities is also anticipated to foster the demand for end-of-line packaging machinery.
On the basis of technology, the global end-of-line packaging market is segmented as automatic and semi-automatic. Based on the function, the global market is segmented as standalone and integrated. The standalone segment is further sub-segmented as palletizing, carton erector, packing and sealing, stretch wrapping, labeling, and others. Based on the order type, the global end-of-line packaging market is segmented as standard and customized. On the basis of end-user, the global end-of-line packaging market is further segmented as pharmaceuticals, food and beverages, automotive, chemical, and electronics and semiconductor products. Of which, the pharmaceuticals segment is expected to witness the highest growth in future.
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Europe is expected to witness the highest growth in the global end-of-line packaging market in the coming years. This trend is followed by Asia Pacific and North America. Asia Pacific is anticipated to experience the highest growth in terms of revenue in the near future. In developing countries, the demand for end-of-line packaging solutions is anticipated to witness slow but steady growth mainly owing to increasing demand for the high degree of automation across various end-use industries. Latin America and the Middle East Asia are expected to witness slower growth as compared to other regions.
Some of the major players dominating the global end-of-line packaging market are Bosch Packaging Technology, IMA S.p.A., Krones AG, Pro Mach, Inc., and Schneider Packaging Equipment Co. Inc. Other key players influencing the global market are Combi Packaging Systems LLC, Festo Corporation, DS Smith Plc., and Gebo Cermex.
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End-of-line Packaging Market by Geographical Analysis: North America (US), Europe(Germany, France, UK), Asia Pacific(China, Japan, India), Latin America(Brazil), Middle East and Africa
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