The global packaging robot market size was US$ 5.4 billion in 2021. The global packaging robot market is forecast to grow to US$ 15.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.8% during the forecast period from 2022 to 2030.
Packaging robots are designed to perform various packaging operations, including coding, filling, sealing, transporting, etc.
Factors Influencing the Market
The growth of the end-use industry, such as automation and robotics, will fuel the growth of the global packaging robot market during the forecast period. In addition, industries are increasing their focus on technologies instead of the workforce. As a result, it will augment the growth of the global packaging robot market during the forecast period.
The increasing industrialization and favorable policies by governments such as ‘Make in India’ and ‘Made in China' will offer ample growth opportunities for the global packaging robot market.
Rising urbanization and the growing e-commerce industry will propel the packaging robot market forward during the study period.
High initial costs associated with packaging robots may restrict the growth of the global packaging robots market.
COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic positively influenced the packaging robot market. The industries increased the deployment of machinery in order to reduce human contact and labor where necessary. As a result, companies started adopting packaging robots to escalate the speed and productivity of work. Moreover, the pandemic has forced professionals to stay at home, which further created a labor shortage. As a result, the demand for automation increased drastically among various end-user industries.
Regional Analysis
North America is forecast to hold the highest share in the global packaging robot market, owing to the growing penetration of advanced technologies. In addition, the growing automation in the region is expected to benefit the regional packaging robot market.
Asia-Pacific packaging robot market is forecast to register significant growth due to growing industrialization and favorable government policies, such as ‘Make in India’ and ‘Made in China.'
Competitors in the Market
Market Segmentation
The global packaging robot market segmentation focuses on Gripper, Application, End-User, and Region.
The packaging robot market has been segmented based on gripper type –
The packaging robot market has been segmented based on application –
The packaging robot market has been segmented based on end-user –
