BLOOMBERG RESEARCH: AMONG THE TOP 5 VENDORS IN THE STRAPPING
Bloomberg Research: Strapping Machine Market from 2019 to 2023
Technavio has released a new market research report on the global strapping machine market from 2019-2023.
The demand for strapping machines from various end-users is increasing significantly as they help to minimize the total cost of ownership. Moreover, end-users are focusing on expanding their product lines and entering into partnerships with strapping machine manufacturers to avail flexible and customized products which can handle large product sizes. Thus, the development of customized strapping machines for various requirements of end-users will fuel the growth of the strapping machine market during the forecast period. Furthermore, this industry research report also presents a competitive analysis of the market by product (automatic and semi-automatic) and geography (APAC, Europe, MEA, North America, and South America).
The global strapping machine market is highly competitive with major vendors such as Crown Holdings Inc, Dynaric Inc, Messersì Packaging S.r.l., Mosca GmbH, and StraPack In, competing based on price, quality, and market presence.
The growing demand for innovative packaging products such as crates, totes, and intermediate bulk containers from end-users is stimulating the growth of the global industrial packaging market. Strapping is extensively used as tertiary packaging in various end-user industries, including chemical, pharmaceutical, and food and beverage, to provide stability to bundled packages. Thus, the growth of the industrial packaging market will fuel the strapping machine market during the forecast period.
