Packaging Robot Market Research Report and Forecast up to 2024 Packaging Robot Market - Global Industry Analysis, | Page 2

Taking end-use industries in consideration, packaging robots market can be
segmented into food and beverages, pharmaceuticals, consumer products, tracking
and logistics and industrial packaging. Industrial packing segment can be sub-
segmented in to chemicals, electronic devices and others. The industrial packaging
segment is expected to remain the dominant throughout the forecast period. But
this segment is anticipated to witness relatively slow growth till 2024 in comparison
to other end use industries. Consumer products segment is identified as second
most promising market for packaging robot suppliers only behind industrial end use
segment. A detailed examination of packaging robot sales, adoption and
penetration in industrial as well as consumer product reflects the market sentiment
which indicates these two end use industries dominance for packaging robot
demand during the forecast period. Another end use market for packaging robots,
food and beverages segment is projected to register a healthy CAGR of over of
15.5% during the forecast period. Other end use markets such as pharmaceutical,
tracking and logistics segment is expected to grow at a CAGR of less than 15% over
the forecast period, however the growth is impressive as per the data received from
packaging robot suppliers this is primarily because of reported increase in demand
of packaging robots for industrial robots for loading and unloading application within
tracking and logistics industry.
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On the basis of geography, Asia Pacific (APAC) is the largest market with China
reporting highest sales volume as well value for packaging robots in comparison to
other countries. Almost every multinational company have substantial presence in
high potential countries of Asia pacific and are facing competition from increasing
penetration of Chinese suppliers. Asia Pacific is followed by Europe as the largest
market and North America. Sales of packaging robots is likely to remain moderate
with regular crest and trough in demand, whereas in developing countries it is likely
to reflect vertical upward growth trend. This is primarily because of increasing
degree of automation across end use industries. Among developing regions sales of
packaging robot in Latin American and MEA countries is anticipated to grow
relatively slower than Asia Pacific and European counterparts.
Key players in the global packaging robot market include Fanuc Corporation, Kuka
Roboter GmbH, Yaskawa Electric Corporation, ABB Limited, Mitsubishi Electric
Corporation, Bosch Packaging Technology and Schneider Electric SE.
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