According to a comprehensive analysis by Future Market Insights (FMI), the global industrial electronics packaging market is projected to witness a CAGR of 4.1% during the forecast period from 2023 to 2033. The market size, valued at USD 1,944.9 million in 2023, is anticipated to reach USD 2,906.73 million by the end of 2033.
The surge in demand for industrial electronics packaging is largely attributed to the rising need for robust and efficient solutions that protect sensitive electronic components across various industrial applications. With the increasing adoption of automation and smart technologies in industrial settings, specialized packaging solutions that ensure the safe transportation and storage of electronic goods are becoming a critical necessity.
See How Things Have Changed: Access the Old Source for This Report!
Furthermore, technological advancements in packaging materials and designs are playing a significant role in enhancing product durability and performance. Manufacturers are continually innovating to meet the evolving requirements of the electronics sector, leading to improved protection for components and devices in demanding environments.
In addition to performance, sustainability is emerging as a key driver of growth in this market. Companies are investing in eco-friendly packaging materials that align with global efforts to reduce environmental impact. This trend is opening up new avenues for development, as industries seek to balance performance with sustainability in their packaging solutions.
Key Highlights of the Industrial Electronics Packaging Market:
- The North America industrial electronics packaging industry is projected to mark its dominance by attaining USD 672.1 million by 2023. The region is projected to assume a CAGR of 3.9% over the forecast period. The United States market is expected to surpass total revenue of USD 659.9 million by the end of 2023.
- Europe region is anticipated to position itself as the second leading market in the forthcoming period. The region is projected to generate overall revenue of USD 578.3 million in 2023.
- Germany contributes significantly towards Europe market growth. Germany market shares a sizeable amount of revenue of USD 384.8 million.
- East Asia is the third leading region in the market. The region is projected to account for USD 296.4 million by 2023 end. The region includes Japan, China, and South Korea- with Japan contributing a huge chunk to the regional growth and South Korea contributing the least from the group.
- South Asia is projected to witness robust expansion over the forecast period. The region is projected to witness a CAGR of 4.9% over the forecast period. South Asia is anticipated to attain USD 202.8 million by 2023 end.
- The rigid packaging format holds a significant proportion of the market. By 2023 end, the market is expected to attain USD 1,816.7 million. The segment is projected to witness a CAGR of 4% over the forecast period.
Competitors Engineering to Strengthen Industrial Electronics Packaging
Industrial electronics product packaging producers are looking for unexplored markets to increase their worldwide market presence and share. Industrial electronics packaging suppliers are focusing on mergers to better coordinate research and development of novel products. The market is highly fragmented, which presents chances for new entrants to enter with advanced electronic packaging solutions.
- KLA Corporation launched its new business group in May 2020, with the goal of focusing only on its electronics, packaging, and components (EPC) operations. The new company aims to cater to the changing environment of the electronics sector, which includes the rise of technologies such as IoT, machine learning, and others.
- In October 2021, Smurfit Kappa Group acquired Verzuolo, a recycled containerboard manufacturer situated in Northern Italy, for USD 382.53 million. This latest acquisition, which adds a 600,000-tonne containerboard factory in Northern Italy to the group’s assets, is intended to help the company achieve its environmental goals.
The Industrial Electronics Packaging Report Profiles the Following Key Players
- DS Smith Plc.
- Smurfit Kappa Group Plc.
- UFP Technologies Inc.
- Sealed Air Corporation
- Achilles Corporation
- Desco Industries Inc.
- Botron Company Inc.
- Kiva Container Corporation
- Orlando Products Inc.
- Delphon Industries LLC
- Summit Container Corporation
Key Segments of Industrial Electronics Packaging Industry Survey
By Product Type:
- Testing & Measuring Equipment
- Process Control Equipment
- Industrial Controls
- Power Electronics
- Industrial Automation Equipment & Others
By Material Type:
- Plastic
- PE
- PET
- PS
- PP
- PVC
- Paper & Board
By Packaging Type:
- Rigid
- Corrugated Boxes
- Containers
- Protective Packs
- Trays
- Clamshells
- Bin & Totes
- Others
- Flexible
- Bags & Pouches
- Tapes & Labels
- Films & Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube