Insights on Packaging Machinery Market within the Industrial Machinery Sector | Increasing Demand for Food Packaging to Emerge as a Key Driver | Technavio
The global packaging machinery market is expected to grow at a CAGR of over 4% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.
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Technavio has announced its latest market research report titled Global Food Packaging Machinery Market 2020-2024 (Graphic: Business Wire)
Rapid urbanization has increased the number of people opting for take-out and on-the-go meals. Also, the busy lifestyle of people in urban areas has increased the consumption of food products that require less effort to open, carry, and store. This has increased the demand for many flexible packaging options such as pouring spouts, zippers, peel-off lids, and microwavable pouches. These packaging designs are lightweight, durable, and offer higher convenience and portability for consumers. All these factors are contributing to the growth of the global packaging machinery market.
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Packaging machinery Market: COVID-19 Impact Analysis on Parent Market
The global industrial machinery market is the parent market of the packaging machinery market. Within its scope, the industrial machinery market covers companies engaged in the manufacture of industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, escalators, insulators, pumps, roller bearings, and other metal fabrications. Our report on the packaging machinery market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including Barry-Wehmiller Companies, GEA Group, Illinois Tool Works, Krones, and Robert Bosch.
Technavio’s research report on the packaging machinery market identifies the key drivers, trends, challenges, and the market scenario over the forecast period. The report also analyzes the impact of these factors on the overall industrial machinery market.
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Packaging machinery Market: Segmentation Analysis
The global packaging machinery market has been analyzed across various segments to identify market dynamics, developments, and key growth areas during the forecast period. The report also offers insights on high growth regions and opportunities for vendors operating in each sub-segment of the packaging machinery market. The market is segmented as follows:
Product type
- Mechanical products and equipment
- Welding equipment and consumables
- Pollution control equipment
- Compressors
- Boilers
- Robots
- Portable generators
- Power tools
- Machine tools
- Process equipment
Distribution channel
- Contractors and consultants
- Authorized dealers/distributors
- System integrators
- Machine builders
- Direct to customer
Geography
- North America (NA)
- South America (SA)
- Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
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Vendor Landscape
Technavio’s industry coverage utilizes various sources and tools to gather information about multiple stakeholders and their offerings toward the packaging machinery market. Sources such as company websites, annual reports, whitepapers, subscription & in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the industrial machinery market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201012005626/en/
