During the projected period, the market for assembly trays is anticipated to grow at a robust CAGR of 23%. The market for assembly trays is expected to grow from its present value of US$ 2.2 billion in 2022 to US$ 21.45 billion by 2032.
Assembly trays have seen an increase in sales thanks to their low-profile form, which is easily compatible with conveyor conveyance.
Due to their greater dimensional stability and light weight, which makes them easier to handle, assembly trays are predicted to expand in market share.
The analysis makes clear the factors boosting assembly tray sales and, as a result, the opportunity for market participants. The assembly tray business does, however, face several challenges that could prevent it from realizing its full potential.
Assembly Trays Market: Overview
Conveyor trays are another name for assembly trays. Assembly trays have a low profile form that makes it simple to handle assembly and transport operations for a variety of end-use industries. Assembling trays are lightweight and provide dimensional stability, ensuring ease of handling. End customers in the electronics and automotive industries have opportunities because of features like grease resistance and high melting point.
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Progressive demand in the Electrical & Electronic industries to proliferate the market growth
Most electrical products get spoilt due to the generation of static electricity in them. It is also noticed that around 33% of electrical devices are damaged due to the absence of suitable packaging solutions. Increasing demand for ESD assembly trays in the electrical and electronics industry drives the assembly trays market. Additionally, the semiconductor and PCB industry is witnessing significant expansion which is a prominent application for assembly trays. Assembly trays are the ideal protective packaging solution for the packaging of ESD-prone electrical and electronic components.
High growth opportunity in the emerging markets for electronic devices is luring the demand for assembly trays
The increase in demand for conveyor trolleys in the automotive and electronics industry has boosted the demand for assembly trays in developing countries such as India, Brazil, etc. These countries, excluding China, have negligible manufacturing facilities for the production of electronic components. Generally, these countries import electronic components such as semiconductors and PCBs for the production of these electronic devices. Companies in emerging regions are currently focusing on the domestic production of these electronic components to reduce the final cost of the product.
Companies are investing heavily in backward integration at their PCB’s in-house facilities. There has been a substantial rise in the number of manufacturers of these components in recent years. Therefore, the increase in production of these components is anticipated to boost the assembly trays market in APAC regions. This, in turn, is likely to lead to high growth opportunities for the assembly trays market in these emerging markets.
Emerging Countries to Hold Significant Share in the Assembly Trays Market
On the basis of geography, the global assembly trays market is segmented into North America, South Asia, Latin America, East Asia, Europe, the Middle East & Africa & Oceania. China is anticipated to represent tremendous growth in the assembly trays market due to various factors. Rapid growth in automation & electronics industry. The Europe assembly trays market is expected to witness judicious growth due to matured market in Germany, France & Italy. MEA is expected to be the fastest growing market due to the rising penetration of electrical & electronics which tends to drive the assembly trays market.
Assembly Trays Market: Key Players
Some of the key players in the assembly trays market are mentioned below:
- Molded Fiber Glass Tray Company
- K. Goodwin Co.
- Impala Plastics
- W. Grainger, Inc.
- Conductive Containers, Inc.
- Desco Industries Inc.
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Assembly Trays Market: Recent Developments
Key players in the assembly trays market are focusing on expansion by acquisition & mergers. Manufacturers in the assembly trays market are also expanding their footprint in the global market.
- In January 2018, Desco Industries Inc. acquired 3M’s static control business, for approximately US$ 60 Mn. Through this acquisition, the company plans to expand its ESD packaging business to the global level.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on assembly trays market segments and geographies.
Regional Analysis Includes–
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
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Assembly Trays Market: Segmentation
Based on product type, assembly trays can be segmented as:
- Tray with drop ends
- Tray with drop sides
Based on material type, assembly trays can be segmented as:
- Plastic
- Metal
- Fiberglass
- Others
Based on load capacity, assembly trays can be segmented as:
- Below 100 lb.
- 101 – 200 lb.
- 201 – 300 lb.
- Above 300 lb.
Based on end-user, assembly trays can be segmented as:
- Electrical & Electronics
- Automobile
- Defense & Military
- Manufacturing
- Aerospace
- Healthcare
- Others
Reports Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth assembly trays market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Assembly trays market performance
- Must-have information for players to sustain and enhance their market footprint
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