PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350318
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350318
The global packaging robots market was valued for US$ 5.57 Bn in 2022 is expected to exhibit a CAGR of 11.4% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 5.57 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 11.40% | 2030 Value Projection: | US$ 11.84 Bn |
Packaging robots are robotics system used for packaging purposes and reduce labor cost and package time. These packaging robots are flexible and can easily integrate into workspace. Packaging robots are type of industrial robots are used for packaging applications in manufacturing facilities for operations such as filling, primary packaging, placing, picking, palletizing, and de-palletizing. Packaging robots provide a variety of benefits including reduced part package time, labor cost reduction, and ability to lift larger packages. Manufacturers are using packaging robots for packaging operations in order to enhance the process of packaging faster and precise. There is rapid change in technologies for the betterment of growth in manufacturing sectors. These robots not only saves time and also cost efficient in fulfilling targets in prescribed time. Thus, in turn these factors provides lucrative opportunities for the growth of packaging robots market.
Growing need for automation, increased usage of robots for maximum efficiency and cost reduction advantages by robots are the factors driving the growth of packaging robots market. Installation robotic packaging system not only provides flexibility and also enhances the overall output of the packaging line. Moreover, packaging robots can function under different temperature ranges and occupy less space as compared to humans. Robotic packaging is typically used for primary and secondary packaging applications across food and beverages and pharmaceutical industries. This, in turn, is expected to boost the global packaging robots market growth in the near future.
Additionally, increase in retail and e-commerce industry is expected to drive the demand of this market. E-commerce industries are using robots for order fulfillment process as manual item picking is tough and more time consuming process. Applications of robots are increased in food & beverages, e-commerce, healthcare and automotive industries to increase efficiency. High accuracy, efficiency and minimum damage are also some reasons which increases the demand of this market.