Global Packaging Robot Market: Demand for Automotive Packaging to Rise from Industrial Sector

The global packaging robot market is led by top ten key companies, some of them are ABB Ltd., KUKA Roboter GmbH, FANUC Corporation, and Yaskawa Electric Corporation. Top ten companies currently hold 32% of the global packaging robot market. Transparency Market Research (TMR), in a new report, states that emerging players are expected to hold a massive share of the global market in the years to come owing to the rising exports and advancement in machinery purchase. Key companies are focusing on merging with the startup companies, which is a rising trend in the global packaging robot market. Many leading companies are expected to expand their business in many regions to maintain their dominance in the global packaging robot market.

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http://www.transparencymarketresearch.com/pressrelease/packaging-robot-industry.htm

The global packaging robot market is predicted to reach US$5,035 mn by 2024. In 2015, the industrial packaging robot end-use segment is predicted to account for 32% of the global packaging robot market. The use of packaging robots for picking, packing, and palletizing is increasing in the industrial segment, which is the reason why this segment is expected to maintain its dominance in the global packaging robot market in the near future.

Industrial Packaging Application Segment to Dominate Demand for Packaging Robots

The industrial packing application segment dominated the global packaging robot market in 2015 and the trend is expected to continue throughout the forecast period. The industrial packing application segment is predicted to exhibit a 14.80% CAGR from 2016 to 2024. By gripper type, the global market is expected to be dominated by the vacuum segment. The vacuum gripper-type segment is predicted to account for 32% of the global packaging robot market by 2024. By region, the global packaging robot market was dominated by Asia Pacific in 2015. This region is predicted to dominate the global market in the...