The Packaging Robots Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Packaging Robots Global Market Report 2024, The packaging robots market size has grown rapidly in recent years. It will grow from $5.57 billion in 2023 to $6.26 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to labor shortages in manufacturing, increasing consumer demand for customization, advancements in robotics and automation, rising labor costs, stringent quality and safety standards, .
The packaging robots market size is expected to see rapid growth in the next few years. It will grow to $9.97 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to integration of artificial intelligence (ai) and machine learning, rise of sustainable packaging, increased focus on hygienic design, expansion of smart manufacturing, flexible packaging solutions. Major trends in the forecast period include collaborative robotics (cobots), robotics as a service (raas), vision-guided robotics for quality control, integration of robotic picking and packing, blockchain for traceability in packaging.
The rising e-commerce and retail industries are expected to propel the packaging robot market. The purchasing and selling of products and services through an electronic network or retail hub, typically the internet and retail store, is known as e-commerce and retail, respectively. The e-commerce sector is rising due to changes in consumer preference, increased convenience, and personalized experience. Packaging robots in e-commerce warehouses and retail hubs provide comfort in material handling, packaging, and managing the supply chain ecosystem. For instance, in February 2023, according to Ecommerce Europe, a Europe-based association for companies selling products and/or services online to consumers, France’s e-commerce sector (including products and services) generated €146.9 billion ($159.11 billion) in revenue in 2022, indicating a 13.8% growth over 2021. Furthermore, in June 2022, an article published by Morgan Stanley, US-based investment management and financial services company, states that global e-commerce increased from 15% to 21% of total retail sales from 2019 to 2021, accounting for approximately 22% of total sales. Therefore, the rise in e-commerce and retail will drive the packaging robot market.
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The packaging robots market covered in this report is segmented –
1) By Gripping Type: Clamp Type, Claw Type, Vacuum, Other Gripping Types
2) By Application: Pick And Place, Packing, Case Packing, Tray Packing, Filling, Other Applications
3) By End Users: Food And Beverages, Pharmaceuticals, Consumer Products, Logistics, Other End Users
Technological advancements have emerged as the key trend gaining popularity in the packaging robots market. Major companies operating in the packaging robot market are developing innovative products to strengthen their position in the market. For instance, in August 2022, ABB Robotics, a Switzerland-based provider of power and automation technologies for robotics, launched the FlexPicker IRB 365, a fastest-in-class robot for picking and packing applications up to 1.5 kg. It can be utilized for a variety of tasks, including bottle handling, package sorting, and shelf-ready packaging. Furthermore, at 120 picks per minute, the IRB 365 can pick, reorientate, and put 1kg of products. The IRB 365 is integrated into packaging lines using digital twin technology with ABB’s PickMaster Twin software in hours as opposed to days, which also cuts down on changeover times from hours to only minutes.
The packaging robots market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- DENSO Robotics
- Mitsubishi Electric Corporation
- Schneider Electric SE
- ABB Ltd.
- Kawasaki Robotics Inc.
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