Future Market Insights has developed a report on global pallet stretch wrapping machines market. An analyst from FMI has fielded several questions on forecasted expansion of global pallet stretch wrapping machines market.
What is your take on the expansion of global pallet stretch wrapping machines market?
Well, the report generated by FMI reveals that the global market for pallet stretch wrapping machines is likely to witness expansion at 4.3% CAGR during 2017-2027. The global market is estimated to reach valuation of US$ 500 Mn by the end of 2027, up from US$ 333.5 Mn in the year 2017.
What are the factors according to you are propelling demand for pallet stretch wrapping machines market?
Rising consumer demand for speed, quality and security across supply chains has fueled optimization in packaging operations. Pallet stretch wrappers are now equipped with advanced features to fulfill consumer demands. End-users are demanding for machines, which can effectively deliver safe shipments, efficient packaging as well as secure loads of different types at improved efficiency. Pallet stretch wrapping machine uses an equipment, which requires minimal operator intervention. These machines are deemed as critical packaging solutions from starting of shipping procedure and logistics and not at the end of packaging line. This has urged demand for packaging pallet stretch packaging machines throughout the industries. New advanced pallet machines are equipped with sensors that can detect load height, load weight as well as stability quotient.
Why do you think APEJ will remain at leading position in the global market?
Asia Pacific excluding Japan (APEJ) is projected to be the largest region, in terms of adoption rate of pallet stretch machines. This region is characterized by presence of number of end-use industries that are needful of such type of packaging machines. Developing countries such as India and China are exhibiting potential growth opportunities for pallet stretch wrapping machine manufacturers. In terms of value, the APEJ will reach US$ 170 Mn by the end of 2027.
Is the global market segmented on the basis of machine type, which is the leading segment in the market and why?
Since last year, automatic pallet stretch wrapping machines are gaining high traction. Rising use of turntables, rotary arms and ring type of automatic machines are further boosting adoption of automatic pallet stretch machines across end-user industries.
What are order type segments of the global market, which is the leading segment and why?
By order type, standard order segment is anticipated to lead the glkobal market with considerable growth rate and high market valuation. This significant growth of the segment is attributed to end-user’s preference to standard machines that are manufactured by OEMs instead of relying on customized packaging machines.
What are the prominent players operating in the global market?
Muller Load Containment Solutions, Wulftec International Inc., Arpac LLC, Italdibipack S.p.A, Hangzhou Youngsun Intelligent Equipment Co. Ltd., Fromm Packaging Systems, Inc., and Robopac SPA are considered as leading companies operating in the global market. However, Atlanta Stretch Spa, Perks Engineering, Phoenix Wrappers, Inc., SIAT S.p.A, Webster Griffin Ltd., Lantech, Inc., and Tosa s.r.l. have further consolidated their footprints in the global market.
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