SEATTLE, May 27, 2020 (GLOBE NEWSWIRE) -- Autonomous machines used for packaging can be termed as packaging robots. Such robots aid in reducing part package time, save labor cost, and can lift larger packages.
The global packaging robots market is estimated to account for US$ 2646.1 Mn in 2019 and is expected to grow at a CAGR of 14.1% over the forecasted period 2020-27.
Market Drivers:
Increasing labor cost is expected to boost growth of the global packaging robots market. For instance, according to Eurostat, in the fourth quarter of 2019, hourly labor costs rose by 2.4 % in the euro area and by 2.7 % in the EU-27 compared with the fourth quarter of 2018.
Moreover, significant growth in the fast moving consumer goods (FMCG) sector is also expected to aid in growth of the market. For instance, according to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.
Market Restraints:
However, high initial investment and low adoption of packaging robots in emerging economies is expected to hinder growth of the global packaging robots market.
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Key Takeaways
APAC holds the dominant position in the global packaging robots market and is expected to witness significant growth over the forecast period 2020-27. This is owing to rapid industrialisation in the countries such as India, China, Japan and South Korea. Furthermore, initiatives taken by government in these countries expected to positively impact on the packaging robot market. For instance, China is also investing in new technology such as robotics, Artificial Intelligence, under its Made in China 2025, a strategic plan of China to shifts from low cost goods manufacturing industry to develop independent the high value and service providing industry in the country. Thus, APAC region is contributing highest among the all-regions in the global packaging robots market and also anticipated to create lot of opportunities for the key players in the forecast period.
Among end use, food and beverages, segment is expected to dominate the global packaging robots market over the forecasted period as packaging robots reduces the overall cost in long term by reducing the labour cost, improves efficiency, material waste, and others. Furthermore, due to Covid 19 pandemic, companies are investing in the robotics for the packaging as these reduces the contamination chances, and further, due automation, all systems can fully monitored remotely. Thus, food and beverages, segment is expected to dominate the global packaging robots market over the forecasted period
Among gripper technology, vacuum, segment is expected to create a lucrative opportunity for global packaging robots market as these technology enables to use robotics for the delicate food items such as eggs, breads, fruits and many others without damaging the actual items. Furthermore, many key players are offering vacuum grippers to capture this rapidly growing market. For instance, OnRobot A/S, Denmark based robotic company offers various types of vacuum grippers for food products.
Competitive Landscape:
Major players operating in the global packaging robots market include, IAM Robotics, Kindred, RightHand Robotics, 6 River Systems, Inc., Takeoff Technologies Inc., Fabric, Alert Innovation, Inc., Trew, LLC, Mitsubishi Electric Corporation, Remtec Automation, LLC, Bosch Packaging Technology, Schneider Electric SE, KUKA Roboter GmbH, Brenton LLC, FANUC Corporation, Krones AG, Yaskawa Electric Corporation, and ABB Ltd.
Key Developments:
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in March 2020, Kindred announced to reveal the Kindred SORT 3.7, a piece-picking robot that features 27 eight additional cubbies, which support a 42% increase in the number of items it can sort at e-commerce fulfillment centers and warehouses, at MODEX 2020 in Atlanta, U.S.
Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in August 2019, Alert Innovation, Inc. partnered with Murata Machinery, Ltd., a material handling solutions provider, for the development and commercialization of Alert Innovation’s Alphabot material handling technology.
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Market Segmentation:
- By Application Type
- Picking
- Arranging & Packing
- Tray
- Case
- Filling
- Other
- Palletizing
- Case Palletizing
- Bag Palletizing
- De-palletizing
- By End Use
- Food & Beverages
- Pharmaceutical
- Consumer Products
- Tracking and Logistics
- Industrial Packaging
- Chemical
- Electronics Devices
- Others
- By Gripper Technology
- Claw
- Clamp
- Vacuum
- Other
- By Region
- North America
- Latin America
- Europe
- APAC
- MEA