Rise in Automation across the Industries Will Lead the Adoption of Packaging Robots
Global Packaging Robot Market size is expected to reach $5 billion by 2024 from $2 billion in 2016, growing at a CAGR of 14.6% from 2016 to 2024.
Technological advancement to drive the global packaging robot market
Major driving factors of global packaging robot market are increasing demand for automation in packaging line, and rise in manufacturing industries.Though, high capital investment may hamper the growth of the market. Moreover, technological advancements would provide several growth opportunities to packaging robots Industry in the coming years.
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The global packaging robot market is classified into application, gripper type, end user, and geography.Gripper type segment comprises vacuum gripper,clamp gripper, claw gripper, and other gripper types. Application segment includes palletizing robots, packing robots, and picking robots. End user is further bifurcated into consumer products, chemical manufacturing, cosmetic & personal care, food & beverages, pharmaceutical, logistics & transport, tracking, and industrial packaging robots. North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the key regions covered in the global report.
Vacuum gripper held for the highest market share in the gripper type segment
The vacuum gripper dominated the gripper type segment with highest market share in 2016 and expected to r