The global packaging robots market witnessed significant growth over the past decade, owing to rise in investment in various end-user industries such as food & beverage, consumer products, pharmaceuticals, industrial goods, and others. A number of players expanded their business globally, owing to increase in customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. Moreover, growth in e-commerce, food & beverage, and pharmaceutical industries is expected to boost the adoption of robots, which is anticipated to provide lucrative opportunities for the growth of the market during the forecast period.
The global packaging robots market size was valued at $4.3billion in 2020 and is projected to reach $14.4 billion by 2030, growing at a CAGR of 12.3% from 2020 to 2030.
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On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the largest user of packaging robots, followed by Europe. LAMEA is expected to grow at a CAGR of 19.4% during the forecast period. Asia-Pacific is expected to dominate the global packaging robots market due to growth in the e-commerce, food & beverage, pharmaceuticals, consumer products, logistics, and others industries during the forecast period.
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Several manufacturers in the global packaging robots market stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the packaging robots manufacturing companies. For instance, net sales of Krones AG dropped by 14.5% from January 2020 to December 2020. In addition, lack of man power and raw materials affected the supply chain of the global market. However, the market is projected to recover from the 1st quarter of 2022, due to reduced restrictions and reopening of the global packaging robots industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.
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Packaging robots are designed to open, fill, transport, palletize, seal, and label for packaging sectors. Packaging robots are used in various industries such as food & beverages, chemicals, and pharmaceuticals. The integration of packaging robots technology ensures accuracy and facilitates automation apart from increasing the storage space and operation efficiency. The market driven by surge in demand for automation due to intense competition in e-commerce sector, rise in number of stock-keeping units, and advancements in technology. However, high initial cost and shortage of skilled & trained personnel restrain the packaging robots market growth.
Key players : ABB Limited, Krones AG, Fanuc Corporation, Schneider Electric SE, Yaskawa America Inc., Mitsubishi Electric Corporation, Bosch Packaging Technology (Robert Bosch GmbH), Brenton Engineering, Kuka Roboter GmbH, and Remtec Automation LLC.
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