Various industries these days for their end-of-line packaging solutions have opted for different types of wrapping machines. There are various Innovative Make Stretch Wrapping Machine which includes Round Drop Pipe Wrapping Machine, Stretch Wrapping Machine, Vertical Coil Stretch Wrapping Machine, Binding Wire Film Wrapping Machine, Horizontal Stretch Wrapping Machine, and Coil Stretch Wrapping Machine. They provide specialized and sturdy plastic packaging systems. Among all these, horizontal stretch wrapping machines are more commonly used in every type of industry. In this report, the market is categorized into four different sections namely, region, automation level, and product type.
Recent studies have shown that by the end of the year 2018, the entire stretch wrapping machine market has an evaluation of US$ 758.1 million. By the end of the year 2026, it is expected to achieve a new height of US$ 1,356.0.8 million with a 7.5% CARG rate.
Factors Influencing The Market of Horizontal Stretch Wrapping Machines
The beverage, pharmaceutical, and food industry are growing with every passing day which majorly influences the growth of the stretch wrapping machine industry. These industries are always looking for flawless and efficient wrapping and packaging solutions that the horizontal stretch wrapping machines can provide using their Innovative Mechatronics. This has resulted in the replacement of the usage of shrink-wrapping machines with horizontal stretch wrapping machines. An increase in the consumption and production of processed food & the increasing demand for frozen and chilled products also account for the growth of this type of wrapping machines.
A major concern of the commuters is traffic congestion. This has been a result of ruthless urbanization. TomTom’ s traffic data has shown us that after the year 2008, there has been a global increase of 13% in the traffic jam. In 2010, traffic congestion has wasted nearly seven billion gallons of fuel all over the world and has delayed people by nine billing hours. Proper packaging saves the product from being wasted or spoiled for a longer period. This also has led to the growth of the horizontal stretch wrapping machine industry.
The Industry Can Be Analyzed In Different Ways
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Product Type
As they are widely used in various types of industries, they are projected to account for about fifty-eight point eight percent of the global wrapping machine industry. Over the forecast period of the year 2026, the market of horizontal stretch wrapping machine would have a 7.6% of CARG.
- Automation Level
By the automation level, the horizontal stretch wrapping machine segment is regarded to dominate the wrapping machine market by the year 2020. They are forecasted for an account of 69.0% market share in the year 2026.
- Region
In 2018, Europe is regarded to represent a market volume share of 29.7%. In India and China, between 2018 and 2026, the market growth of horizontal stretch wrapping machines would remain high as compared to a global average. It would have a CAGR percentage of 8.5 and 8.2 respectively.