Published on : Dec 22, 2016
The level of competition in the global end-of-line packaging market is anticipated to rise as the producers are focusing on innovation and presenting cost-effective solutions to gain a competitive advantage in the market. Companies are striving to gain a leading position in the market and are thus also looking forward to reducing their labor costs along with innovation in the end-of-line packaging techniques. The adoption of automated end-of-line packaging is rising vigorously in the industrial sector, thus impelling vendors to focus on advanced automated systems and robotics. Some of the prime players operating in the market are Gebo Cermex, Schneider Packaging Equipment Co. Inc., Festo Corporation, Combi Packaging Systems LLC, Pro Mach Inc., DS Smith Plc., Bosch Packaging Technology, IMA S.p.A, and Krones AG.
Food and Bevarages to Lead among End Users but Automotive to Threat Dominance
Based on end user, the global end-of-line packaging market is segmented into food and beverages, pharmaceuticals, electronics and semiconductor, automotive, chemical products, and consumer products. The food and beverages segment is projected to maintain a leading position throughout the forecast period. The automotive segment has been identified as the second most profitable market for end-of-line packaging dealers. The automotive segment is also projected to expand at a 4.6% CAGR from 2016 to 2026 in terms of revenue. The design and size of the production units and warehouses are vital factors that are expected to boost the adoption of customized end-of-line packaging.
Modernization Needs of Current Machines to Augment Demand
The benefits of automated end-of-line packaging and installation of robots include the decline in product damage, rising accuracy, and low manufacturing cost. The growing necessity for modernizing and refining the existing manufacturing facilities is likely to drive the growth of the global end-of-line packaging market. Implementing automated end-of-line packaging will help these industries eradicate the unnecessary costs.
The global end-of-line packaging market is projected to witness a 4.0% CAGR from 2016 to 2026. The market is expected to touch a valuation of US$4,070.5 mn by 2016 end owing to the rise in industry automation across the globe.