The rapid growth in the global packaging industry majorly drives the growth of this market. Growing concerns regarding product safety to avoid damage and loss during packaging and shipping supports the market growth.
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The increasing demand from consumer goods, food and beverage, and publishing further accelerates the adoption of strapping machines. There has been an increasing demand of strapping machines by small and medium businesses to increase packaging efficiency while reducing costs.
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However, high initial investment costs of strapping machines limit the growth of the market. New emerging markets, technological advancements, and increasing adoption by small and medium businesses would provide growth opportunities for strapping machine market in the coming years.
Asia-Pacific accounted for the highest share in the global strapping machine market during the forecast period. A significant growth in the consumer goods, and food and beverage industries has been registered over the past few years in the region, thereby supporting the growth of strapping machines in the market.
Increasing need for effective packaging to avoid losses due to damages, and rising disposable incomes in developing countries of this region augment the market growth in the region. Leading global players are expanding their presence in developing nations of India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.
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The various types of strapping machines include semiautomatic strapping machines, automatic strapping machines, and fully automatic strapping machines. The semi-automatic strapping machine segment is expected to lead the market during the forecast period owing to increasing demand from small and medium sized business.
Semi-automatic strapping machines are designed for small and medium sized items and require users to manually feed strapping into the machine. Use of semi-automatic strapping machines in various industries such as food and beverage, consumer goods, publishing, and electronics among others has increased its demand over the past years.
The different materials used in strapping machines include polypropylene, polyester, steel, and others. The polypropylene segment dominated the market in 2017 owing to its affordable use in packaging of small and medium sized products.
Its increasing use in various industries such as food and beverage, consumer goods, publishing, and electronics among others is expected to drive the market growth during the forecast period.
Major Points Of Table Of Content:
Strapping Machine – Industry snapshot
Strapping Machine - Ecosystem analysis
Strapping Machine Market Dynamics
Strapping Machine – Market Forces
Strapping Machine Market Driver Analysis
Strapping Machine Market Restraint/Challenges analysis
Strapping Machine Market Opportunity Analysis
Industry analysis - Porter's five force
Bargaining power of supplier
Bargaining power of buyer
Threat of substitute
Threat of new entrant
Degree of competition
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