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Packaging Robots Market Worth $4,649 Million by 2023 | Key Drivers, Restraints & Opportunity

The growing need for automation in industry verticals increased usage of robots for maximum efficiency, and cost reduction benefits drives the market growth.

PORTLAND, OR, UNITED STATES, October 21, 2021 /EINPresswire.com/ -- The need of robotic systems in global packaging robots industry, is on an increase in food & beverage, e-commerce, healthcare, and logistics industries to meet their requirements and increase efficiency. The demand for these systems is driven by the growth in industrialization, need for automation in reducing costs and waste, and improvement in the production efficiency.

The packaging robots market size was valued at $2471 million in 2016 and is projected to reach $4,649 million by 2023, growing at a CAGR of 9.6% from 2017 to 2023.

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Increased demand of robots for increased packaging efficiency, improved supply chain process, rising need for automation in industries, and reduced operational costs drive the growth of the global packaging robots market. In addition, the growth of the global robotic industry and continuous growth in e-commerce and retail sector is projected to create lucrative opportunities for the global packaging robots market. However, high installation costs, heavy capital investment, and shortage of skilled labor hamper the packaging robots market growth.

Packing applications dominated the packaging robots market in 2016 and case packing accounted for the maximum share, constituting around 48% in 2016. Side loading case packing machines have witnessed significant adoption in the packaging industry as it is equipped with horizontal carton magazine for easy loading. However, bagging and cartoning is expected to exhibit the fastest growth rate because cartoning machines to ensure eradication of manual labor and make the whole automated packaging process quite efficient.

Key Market Players

ABB Limited
Krones AG
Fanuc Corporation
Schneider Electric SE
Yaskawa America Inc.
Mitsubishi Electric Corporation
Bosch Packaging Technology (Robert Bosch GmbH)
Brenton Engineering
Kuka Roboter GmbH
Remtec Automation LLC.

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Key Market Segments

By Gripper Type

Clamp
Claw
Vacuum
Others

By Application

Pick & place
Packing
Case packing
Tray packing
Filling
Others
Palletizing
Case palletizing
Bag palletizing
De-palletizing

By End-User

Food & beverage
Pharmaceutical
Consumer products
Logistics
Others

By Geography

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
+18007925285 ext.
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