Home / Press Release / Pallet Stretch Wrapping Machines Market Is Driven By Increasing Requirement Of Product Safety

Pallet Stretch Wrapping Machines Market Is Driven By Increasing Requirement Of Product Safety

According to a new market research report published by Credence Research “Global Pallet Stretch Wrapping Machines Market (Machine Type (Automatic, Semi-Automatic); Order Type (Customized, Standard); End-Use (Food & Beverages, Pharmaceutical, Consumer Products,  Automotive, Paper, Textile, Construction, Chemical & Fertilizers, and Others)) – Growth, Future Prospects and Competitive Analysis,2019 - 2027”, the overall pallet stretch wrapping machines market worldwide is expected to reach a value of US$ 365.0  Mn in 2018 and is set to grow with a CAGR of 5.4% during the forecast period.

Market Insights

The global pallet stretch wrapping machines market is highly governed by increasing demand for safe product packaging is driving the market. Moreover, the rising demand from the consumer side for safe delivery of the goods is also a driving factor for the market growth. There are various industries which are currently using the pallet stretch wrapping machines to deliver to the final product to users in a good condition by reducing the risk of product damage.

Additionally, the increasing demand for machines which can deliver a product with well-organized packaging protects the good from damage and the secure load of different types of products by reducing human work. These machines also enhance the performance of the packed goods which is increasing the demand for the pallet stretch wrapping machines globally. Additionally, these machines need minimal operator intervention.

Based on machine type, the semi-automatic machines dominate the segment due to the early adoption of the machines and due to their low cost as compared to the automatic machines. The semi-automatic machines account more than 55% of the market. However, the automatic machines are expected to be the fastest-growing segment due to their ability to reduce human efforts and increase the efficiency of the word by reducing the time and errors.

The European region accounts to have the second-largest market due to presence of various automotive industries, retail, manufactures, chemicals, consumer goods and others which are driving the market in the region. The region is expected to grow with a CAGR of 4.9% during the forecast period. Additionally, the adoption of automatic machines for pallet wrapping is in high demand as it reduces human efforts and time.

Some of the prominent players operating in the pallet stretch wrapping machines market includes Arpac LLC, Hangzhou Youngsun Intelligent Equipment Co. Ltd., Robopac SPA, Italdibipack S.p.A., Wulftec International Inc., Fromm Packaging Systems, Inc., Atlanta Stretch Spa, Tosa s.r.l., Phoenix Wrappers, Inc., Lantech, Inc., Fhope Packaging Machinery Co.,Ltd, Webster Griffin Ltd., Packway Inc., and Jia-in Industry Co., Ltd..

Browse the full report at https://www.credenceresearch.com/report/pallet-stretch-wrapping-machines-market

The Global Pallet Stretch Wrapping Machines Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Million
Segmentation

 By Machine Type Segment (2017–2027; US$ Mn

 By End-Use Segment (2017–2027; US$ Mn)

 By Order Type Segment (2017–2027; US$ Mn)

 By Geography Segment (2017–2027; US$ Mn)

*Complete segmentation list is on report page

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