The “Packaging Robots Market Forecast to 2028 – COVID-19 Impact and Global Analysis” report has been added to ResearchAndMarkets.com’s offering.
The global packaging robots market is expected to grow from US$ 3,945.43 million in 2021 to US$ 8,448.21 million by 2028; it is estimated to grow at a CAGR of 11.49% during 2021-2028.
Packaging is a critical procedure in manufacturing facilities, especially those that produce goods for the consumer market. The installation of a robotic packaging system increases flexibility and improves the packaging line’s overall production. Furthermore, packaging robots can work in a variety of temperatures and take up significantly less floor area than people. Increased demand for various items is forcing enterprises to focus on improving production efficiency and implementing better operations management. The implementation of robotic automation in packaging units can help achieve overall equipment efficiency (OEE), which is a necessary need for long-term production efficiency. Robotic installation in packaging lines improves high-speed efficiency of product selecting, packing, and palletizing by reducing physical dexterity.
Additionally, due to rising demand, a considerable number of investments have been recorded in the robotics domain. According to the surveys, the demand for robots was fueled by investments in new production capabilities and the modernization of industrial premises. Factors like the development of energy-efficient packaging systems and fierce competition in all major manufacturing markets have made it possible to invest in packaging robot technology around the globe.
To curb the spread of the virus, all economic activities in the region were partially halted. The COVID-19 pandemic severely affected the sales of automation solutions, such as robotics, in the region. The long-term demand prospects are expected to show considerable growth as governments prioritize the adoption of automation in the region by focusing on new edge technologies, such as artificial intelligence (AI), machine learning, deep learning, 3D printing, and machine vision. These factors are likely to create favorable growth of the packaging robots market in Middle East & Africa in the next 3 to 4 years.
The overall packaging robots market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the packaging robots market with respect to all the segments.
It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions – North America, Europe, Asia Pacific, Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the packaging robots market.
Key Market Dynamics
Market Drivers
- Rising Demand for Packaging Robots from Several Industries
- Growing Demand for Reducing the Overall Operation Costs Across Packaging Sector
Market Restraints
- High Deployment Cost of Packaging Robots
Market Opportunities
- Increased Demand for High Degree Automation
Future Trends
- Intelligent Modernization and Adoption of Vision Sensor Technology
- Impact Analysis of Drivers and Restraints
Companies Mentioned
- ABB
- Brenton, LLC
- Fanuc Corporation
- Krones AG
- Kuka AG
- Mitsubishi Electric Corporation
- Remtec Automation, LLC
- Syntegon Technology GmbH (Bosch Packaging Technology)
- Schneider Electric SE
- Yaskawa Electric Corporation
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