Packaging Robot Market: Use of Robots in Vaccine Packaging to Increase Scope of Growth, Reports Tmr

The global packaging robot market is fragmented with the top ten players accounting for a mere 32% of the market in 2016, states a new report by Transparency Market Research (TMR). Key players in the market include ABB Ltd., FANUC Corporation, KUKA Roboter GmbH, and Yaskawa Electric Corporation. Each of the key players have their own unique selling proposition. For instance, ABB Ltd. enters into long term contracting with clients and also ensures that it has a broad product portfolio. FANUC Corporation specializes in super-heavy payload robots and collaborative robots. It has differentiated its brand by providing high level product customization. Most players in the global packaging robot market are involved in strategic mergers and acquisitions activities.

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According to the report, the global market opportunity in packaging robots will rise from US$1,670 mn in 2016 to US$5,035 mn by 2024. On the basis of application, the packing robots segment will lead and account for 39% by 2024. The picking segment will expand at a 15.7% CAGR from 2016 to 2024. By gripper type, the vacuum segment will continue to lead, accounting for 32% of the market by 2024. On the basis of end use industry, the industrial packaging segment is projected to remain dominant and represent 30% of the global packaging robot market by 2024. By region, TMR expects Asia Pacific to be the most lucrative segment and account for 79.9% of the market by 2024.

Need for High Degree of Automation in Packaging Lines to Drive Demand for Packaging Robots

Packaging robots increase flexibility and optimize overall line throughput of packaging in an industry. They result in low downtime between packaging runs and also help reduce waste during product handling, loading, and inspection. Packaging robots occupy less floor space compared to humans and are thus used for packaging applications across industries...