Stretch wrap machines are used as end-of-line packaging solutions for various industries. Stretch wrapping is one of the most commonly used specialized plastic packaging systems. In our report, we have categorized the market into four different segments: product type, automation level, end users, and regions.
The global stretch wrap machines market is estimated to be valued at US$ 758.1 Mn by the end of 2018 and is expected to reach US$ 1,356.0.8 Mn by the end of 2026 with a CAGR of 7.5% over the forecast period. Between 2018 and 2026, the market is anticipated to reach US$ 597.8 Mn.
Factors influencing the growth of the global stretch wrap machines market
Growth of the food and beverage industry as well as the global pharmaceutical industry are among major factors influencing growth. The global packaging industry is shifting toward more efficient as well as flawless packaging solutions. As a result, the global market has witnessed rapid growth in the production of new stretch wrap machines as well as the replacement of shrink wrap machines with stretch wrap ones. Increase in the production and consumption of processed food and growth in the demand for chilled & frozen products are also among key factors driving the demand for advanced packaging machines, which is expected to propel the demand for stretch wrap machines during the forecast period
Traffic congestion, which is a ruthless impact of urbanization, is a major concern for commuters. According to the TomTom’s traffic data, traffic jams have increased 13% globally after 2008. In 2010, traffic congestion delayed people by 9 billion hours and wasted 7 billion gallons of fuel across the world. To save products from getting spoiled and wasted for a longer period, they need to be packaged well and in a proper manner. This is, in turn, fueling the demand for advanced packaging techniques that also include stretch wrap machines.
Global stretch wrap machines market segmentation and forecast
The global stretch wrap machines market is segmented on the basis of product type, automation level, end users, and by region/country. On the basis of product type, the market can be segmented into turntable, rotary arm, robotic, and others. On the basis of automation level, it has been segmented into manual, semiautomatic, and automatic. On the basis of end users, it has been segmented into food & beverage, pharmaceutical, consumer, construction, chemical, automotive, and industrial. On the basis of regions, the market has been segmented into North America, Latin America, Europe, China, SEA & Pacific, Middle East & Africa, and India.
Global stretch wrap machines market analysis, by product type
The turntable type stretch wrap machines segment is projected to account for 58.8% of the global stretch wrap machines market by the end of 2026 with a CAGR of 7.6% over the forecast period.
Global stretch wrap machines market analysis, by automation level
By automation level, the semiautomatic stretch wrap machines segment is projected to dominate the global stretch wrap machines market in 2018. The semiautomatic stretch wrap machines segment is forecasted to account for a 69.0% market share by the end of 2026.
Global stretch wrap machines market analysis, by end users
The food and beverage segment is projected to dominate the end users segment followed by the pharmaceutical and industrial segments. The food and beverage segment is estimated to reach US$ 355.0 Mn between 2018 and 2026.
Global stretch wrap machines market analysis, by region
From a regional perspective, Europe is estimated to represent 29.7% of the market volume share in 2018. The market in Europe is expected to increase at a volume CAGR of 5.7% over the forecast period. Sales revenue of stretch wrap machines in Europe is expected to reach US$ 424.3 Mn by the end of 2026 at a CAGR of 7.5% over the forecast period. Market growth in China and India is expected to remain high compared to the global average between 2018 & 2026 and at CAGR of 8.5% and 8.2% respectively.
Persistence Market Research offers an 8-year forecast for the stretch wrap machines market between 2018 and 2026. The global stretch wrap machines market is anticipated to grow from US$ 758.1 Mn in 2018 to US$ 1,356.0 Mn in 2026 at a CAGR of 7.5% during the forecast period (2018-2026). The foremost objective of the report is to present insights on technological advancements in stretch wrap machines. The report provides updates on drivers, restraints, opportunities, and various regional trends. The study also provides market dynamics that are expected to influence the current global sales of stretch wrap machines and the future prospects of the stretch wrap machines market over the forecast period.
The report starts with an overview and provides market definition & taxonomy. The overview section thus presents market dynamics that include drivers, restraints, opportunities, and trends followed by value chain analysis and pricing analysis. Moreover, this section also covers the brief global forecast that indicates Y-o-Y projections and incremental opportunity over the forecast period.
The next section of the report covers the detailed market share analysis, Y-o-Y growth, and market attractiveness analysis on the basis of segments such as product type, automation level, end use and regions. A section of the report also highlights the country-wise demand for stretch wrap machines. This section of the report provides the outlook for 2018-2026 and sets the forecast within the context of the report, which includes technological advancements as well as the high demand of stretch wrap machines in various regions for advanced packaging activities.
In the final section of the report, a competitive landscape has been included that provides report audience with a dashboard view and a market structure. Detailed profiles of manufacturers along with an appendix are also included to evaluate their long-term & short-term strategies, key offerings, and recent developments in the stretch wrap machines market. Key players in the global stretch wrap machines market include Signode Industrial Group LLC, Webster Griffin Ltd., M. J. Maillis Group, Packway Inc., ProMach, Italdibipack S.p.A., Aetnagroup S.p.A., ARPAC LLC, Lantech, Technowrapp Srl, Cousins Packaging Inc., etc.
Key Segments Covered
By Product Type
By Automation Level
By End Users
A detailed analysis has been provided for every segment in terms of market size analysis for the stretch wrap machines market. It is vital to note that in an ever-fluctuating global economy, we not only conduct forecast in terms of CAGR, but also analyze the same on the basis of key parameters, such as Y-o-Y growth, to understand the predictability and to identify the right opportunities for players.
Another key feature of this report is the analysis of all segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as identify potential resources from a sales and delivery perspective in the stretch wrap machines market. In addition to this, we have also provided a list of few other participants in the stretch wrap machines market report.