Albany, NY -- (SBWIRE) -- 06/12/2017 -- Manufacturing sector in recent years have largely emphasized on the development of the functions and adopting processes that are precise, efficient and safe. Use of robots have become an integral part, particularly in packaging operations at production facilities, on the backdrop of facility operators urge to boost production efficiency. Furthermore, robots ensure cost savings and achieve production targets and are certainly very important when the demand of products is increasing steadily. The use of robotics is now an integral part of strategy adopted by multinational as well as domestically operating companies. Among various operations performed by robots with respect to packaging, picking packing and palletizing are the most important.
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The growth in different manufacturing industries, along with the increasing concerns over safety and overall equipment effectiveness (OEE) is anticipated to catapult the growth of packaging robot industry worldwide. Packaging robot manufacturers on the other hand also introducing packaging robots with advanced technological features such as incased operational speed, high precision and efficiency. These manufacturers have started to design packaging robots as per industries specific requirements. One of the global leader in providing packaging robotic solution introduced dedicated picking and packing robots for pharmaceutical application, where robots can pick and place cartridges 2X faster than conventional packaging robots that are currently in use. Packaging robot manufacturer's interest in launching robots with higher technology content is also adding to the increased demand for packaging robots and thus driving global packaging robots market.
Since, different robots perform different application, the demand for application specific robot is also reported to be different. In terms of application, picking robots sales is expected to grow at higher CAGR than overall packaging robots sales between 2016 and 2024, worldwide. Packing robots likely to remain attractive market segment with demand projected to expand at a CAGR of over 14.5 % during the same period. Increasing demand for industrial robots for pick and place and packaging application is anticipated to augment the sale of packaging robot across the globe.
Taking end-use industries in consideration, packaging robots market can be segmented into food and beverages, pharmaceuticals, consumer products, tracking and logistics and industrial packaging. Industrial packing segment can be sub-segmented in to chemicals, electronic devices and others. The industrial packaging segment is expected to remain the dominant throughout the forecast period. But this segment is anticipated to witness relatively slow growth till 2024 in comparison to other end use industries. Consumer products segment is identified as second most promising market for packaging robot suppliers only behind industrial end use segment. A detailed examination of packaging robot sales, adoption and penetration in industrial as well as consumer product reflects the market sentiment which indicates these two end use industries dominance for packaging robot demand during the forecast period. Another end use market for packaging robots, food and beverages segment is projected to register a healthy CAGR of over of 15.5% during the forecast period. Other end use markets such as pharmaceutical, tracking and logistics segment is expected to grow at a CAGR of less than 15% over the forecast period, however the growth is impressive as per the data received from packaging robot suppliers this is primarily because of reported increase in demand of packaging robots for industrial robots for loading and unloading application within tracking and logistics industry.
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On the basis of geography, Asia Pacific (APAC) is the largest market with China reporting highest sales volume as well value for packaging robots in comparison to other countries. Almost every multinational company have substantial presence in high potential countries of Asia pacific and are facing competition from increasing penetration of Chinese suppliers. Asia Pacific is followed by Europe as the largest market and North America. Sales of packaging robots is likely to remain moderate with regular crest and trough in demand, whereas in developing countries it is likely to reflect vertical upward growth trend. This is primarily because of increasing degree of automation across end use industries. Among developing regions sales of packaging robot in Latin American and MEA countries is anticipated to grow relatively slower than Asia Pacific and European counterparts.
Key players in the global packaging robot market include Fanuc Corporation, Kuka Roboter GmbH, Yaskawa Electric Corporation, ABB Limited, Mitsubishi Electric Corporation, Bosch Packaging Technology and Schneider Electric SE.