The transportation and logistics industry is set to drive growth in the market on the back of surging use of automatic metal banding equipment to pack goods within a minimal time.
The metal banding machine market is projected to flourish at an average CAGR of 4.0% between 2023 and 2033. The market is expected to hold a market share of US$ 1,050.7 million by 2033, while the market is likely to reach a value of US$ 709.6 million in 2023.
A metal banding machine is a device that uses a stainless steel strap to wrap a product in a huge container. These machines are widely used for wrapping heavy and bulky goods for transportation and logistics purposes. These often use metal straps of different widths and each metal strap has individual potential.
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Over the last decade, technological advancements have encouraged manufacturers of packaging solutions, including metal banding machines, to offer new products with modernized mechanisms. Moreover, demand for automated metal banding machines has increased due to the global acceptance of Industry 4.0.
Growth Factors
The shipping and logistics industry plays an important role in accelerating international trade. Metal banding machines are widely used in the industry to transport goods with strong and durable straps.
These goods are heavy and bulky and thus should be packed with metal straps to avoid damage and other accidents. Increasing import and export activities across the globe are anticipated to drive the market in the next decade.
Many developed countries are spending huge sums on research and development activities to come up with automated solutions for industries. Several packaging machinery manufacturers are also striving to generate more market shares by investing in the development of new machines with full functionality and customization.
End users are looking for innovative machines that can handle multiple tasks at the same time, thereby saving time and labor costs, as well as increasing profits. These factors would push sales of automated metal banding machines in the forthcoming years.
Key Takeaways: Metal Banding Machine Market
- The global metal banding machine market is expected to grow 1.5x over the forecast period.
- The India metal banding machine market is projected to be valued at around US$ 31 Mn in 2022.
- The Germany metal banding machine market is set to create an absolute $ opportunity of approximately US$ 17 Mn during the forecast period.
- By automation type, the automatic segment is anticipated to generate a total incremental opportunity of US$ 216 Mn in the next decade.
- Based on orientation, the horizontal metal banding machine segment is estimated to hold the largest share of 69% by the end of 2032.
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Competitive Landscape: Metal Banding Machine Market
Some of the leading companies present in the metal banding machine market include Signode Industrial Group LLC, Fromm Holding AG, Dongguan Xutian Packing Machine Co. Ltd., Cyklop International, North Shore Strapping Inc., Polychem Corporation, Transpak Equipment Corp, VENUS HARTUNG PTY LTD, GTI Industries Inc., Bystronic Laser AG, TRUMPF GmbH + Co. KG, transfluid® Maschinenbau GmbH, WAFIOS AG, Pines Engineering & H&H Tooling, SOCO Machinery, Euromac, Schwarze Robitec GmbH, Numalliance, Inductaflex Ltd., and Stierli Bieger AG.
Segmentation:
By Automation:
- Manual
- Semi-automatic
- Automatic
By Orientation:
- Horizontal Metal Banding Machine
- Vertical Metal Banding Machine
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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