According to Future Market Insights (FMI), the packaging testing equipment market will grow by 6.4% CAGR between 2021 and 2031. Scope for application is expected to improve in consumer electronics industry as demand for complementing and technologically advanced packaging solutions grows. Packaging testing equipment is used in the electronics industry for various applications such as backing proof for working status, certification of electronics and deeming them safe for usage.
The applications for packaging testing equipment in the electronics industry are still growing. The rapidly rising demand for consumer electronics is a major trend that is anticipated to bolster the growth of the packaging testing equipment market.
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FMI forecasts that the sales of packaging testing equipment will increase in food and beverages, healthcare, and other sectors. Factors such as demand for sustainability and client specific customization will aid application across diverse industries.
Key Takeaways from Packaging Testing Equipment Market
- By testing type, material/ sample testing segment is ahead and leading the global packaging testing equipment market. The segment is anticipated to account for 44% of the market by the end of forecast period.
- By material, the plastic segment is mostly preferred in the market due to its low cost feature. Demand in the segment is anticipated to increase 1.8 times during next 10 years.
- Among end users, the food and beverages segment will exhibit high demand. Furthermore, healthcare & pharmaceuticals will be the second largest segment, accounting for 22% of the market.
- Asia-Pacific is anticipated to offer impressive opportunities for packaging testing equipment market due to lower tax slabs and ease of doing business opportunities in the region.
- North America and Europe will hold share of almost 44% in the global market by the year 2031.
“The demand for packaging testing equipment is rising globally. Increasing focus on testing services and verification & certification for ensuring the quality of packaging material has created growth opportunities for packaging testing equipment manufacturers ,” says FMI analyst.
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Impact of COVID-19 on Packaging Testing Equipment Market
Global crisis of COVID-19 had negative impact on the sales of packaging testing equipment. Lack in availability of raw materials suspended manufacturing process. Imposition of lockdown in major regions such as North America, Latin America, Europe, Asia-Pacific and Rest of World also hampered manufacturing of packaging testing equipment.
Disruption in supply chain activities and stringent rules and regulations lead to a complete closure of manufacturing plants for months. Consequently, sales of packaging testing equipment were pretty disturbed during the lockdown dampening sales of target market.
Packaging Testing Equipment Market Landscape
Krones AG, Coesia Group and AMETEK Inc. are the top players operating in the packaging testing equipment market. Furthermore, Marchesini Group, Presto Testing Equipment, Labthink Instruments Co. Ltd., AZO Holding GmbH, Machine Solutions Inc., Qualitest, and Rycobel Group are also the noticeable players in the packaging testing equipment market. The 3-tier players of the market hold 80-90% in the global packaging testing equipment market. Summarizing everything key players will contribute almost 10-20% of the global market.
Packaging Testing Equipment Market by Category
By Testing Type:
- Sample/ Material Testing
- Hardness/ Strength Testing
- Surface Testing
- Air Properties & Impact Testing
- Enclosures & Barrier Testing
By Material:
- Plastic
- Paper
- Metal
- Glass
By Content:
- Food & Beverages
- Healthcare & Pharmaceuticals
- Transportation & Logistics
- Personal Care Products
- Consumer Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- Rest of World
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Frequently Asked Questions
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About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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