Report : Asia Pacific Packaging Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Industry Verticals (Food & Beverages, Pharmaceuticals, Consumer Electronics, and Others) and Application (Primary Packaging, Secondary Packaging, and Tertiary Packaging)
The food & beverages segment by industry verticals is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Packaging Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Industry Verticals, Application, and Country.” The Asia Pacific packaging robots market is expected to reach US$ 4,019.41 million by 2028 from US$ 1,706.58 million in 2021; it is estimated to grow at a CAGR of 13.02% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific packaging robots market and the factors driving market along with those that act as hindrances
Packaging is a critical procedure in manufacturing facilities, especially those that produce goods for the consumer market. The installation of a robotic packaging system increases flexibility and improves the packaging line's overall production. Furthermore, packaging robots can work in different temperatures and require significantly less floor area than people. Increased demand for various items forces enterprises to improve production efficiency and implement better operations management. Implementing robotic automation in packaging units can help achieve overall equipment efficiency (OEE), which is necessary for long-term production efficiency. Robotic installation in packaging lines improves the high-speed efficiency of product selection, packing, and palletization by reducing physical dexterity. Additionally, due to rising demand, many investments have been recorded in robotics. According to the surveys, the demand for robots was fueled by investments in new production capabilities and the modernization of industrial premises. Factors such as the development of energy-efficient packaging systems and fierce competition in all major manufacturing markets have made it possible to invest in packaging robot technology around the globe. Furthermore, it improves equipment efficiency while lowering operating costs and providing exceptional returns on investment. As a result, the value-added benefits of robotic automation are contributing to the growth of the robot automation market. Moreover, since robotic packaging is commonly employed across various industries, such as food & beverages and pharmaceuticals, the growth of the end-user industries would augment the packaging robot market in the future.
Several economies in Asia Pacific witnessed a sharp decline in their GDP in 2020 due to the sudden closedown of all economic activities across all countries. Asia Pacific is the manufacturing hub of automobiles, consumer electronic products, and semiconductors. The disruptions in supply chain negatively impacted many companies in the region. Consequently, the robot shipments showed the sharpest decline of all times in 2020. China and India are the most badly affected economies in the region due to the large population and overwhelming pressure on the healthcare system. South Korea and Singapore also imposed several lockdowns to contain the virus spread. However, the long-term impact of the COVID-19 pandemic on the region would propel the demand for robots in manufacturing facilities, which is expected to provide positive outlook for the packaging robot players during the forecast period.
Based on industry verticals, the Asia Pacific packaging robots market is segmented into food & beverages, pharmaceuticals, consumer electronics, and others. Based on application, the Asia Pacific packaging robots market is segmented into primary packaging, secondary packaging, and tertiary packaging. Geographically, the Asia Pacific packaging robots market can be segmented into India, Japan, China, Australia and Rest of Asia Pacific.
ABB, Fanuc Corporation. Krones AG, Kuka AG, Mitsubishi Electric Corporation, Syntegon Technology GmbH (Bosch Packaging Technology), Schneider Electric SE, Yaskawa Electric Corporation are among the leading companies operating in the Asia Pacific packaging robots market.
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