The metal banding machine market is anticipated to flourish at an average CAGR of 4.0% between 2023 and 2033. The market is expected to hold a market share of USD 1,050.7 million by 2033, while the market is likely to reach a value of USD 709.6 million in 2023.
Sales of automatic metal banding machines totaled USD 320 million in 2021, according to FMI. Demand for automated metal banding instruments may accelerate, and the top five providers are expected to hold nearly 10 to 15 % of the market share in 2022.
Further, in 2021, the United States metal banding machine market grew by 4% year after year. Total sales of metal banding instruments reached USD 124 million in 2022 across North America.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.0% |
| Market Size (2023) | USD 709.6 million |
| Market Size (2033) | USD 1,050.7 million |
The global metal banding machine market comprises 1% to 2% of the global packaging machinery market, worth USD 58 billion in 2021.
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The global market witnessed a growth rate of 3.0% from 2015 to 2021. The market for metal banding machines has expanded at a significant pace over the last few years. High demand for banding machines in heavy-duty industries such as building & construction, shipping & logistics, and automobiles is likely to bode well for the global market.
To cater to the rising demand, manufacturers are increasing their global production capabilities. Metal banding machines are usually made up of stainless steel. Generally, two types of orientation are available in the market, namely, horizontal and vertical banding machines.
Metal straps are used on the banding machine to reinforce objects with sharp or rough edges, such as iron or concrete. They can handle around 1,500 to 2,000 kg loads during the transportation process.
Metal banding equipment is used in a wide range of industries due to its unique design and higher tension. In addition, manufacturers are putting more emphasis on research and development activities to provide automated machines with unique features such as high precision and capacity.
Owing to the aforementioned factors, the global metal banding machine market is projected to exhibit growth at 4.0% between 2023 and 2033.
Expansion of the E-commerce Industry
Increasing adoption of modernized solutions in a wide range of industries is expected to drive the market. Surging demand for horizontal and vertical metal strapping tools to reduce manual tasks and lower the overall time and cost is also expected to augment growth.
In addition to that, fastening the cargo during transportation and shipping may lead to enhanced security of commodities till they reach the desired destination. Horizontal and vertical banding machines are primarily used in the logistics industry, which has gained traction owing to the expansion of the e-commerce industry. These factors are anticipated to augur well for the global market.
High Demand for Steel Strapping Machines
Metal banding machines typically use stainless steel bands made from numerous steel alloys. These can withstand heavy loads without the risk of material breakage. Steel straps are suitable for holding materials with hard corners and sharp edges.
Another advantage of using steel straps over polyester straps is that the former can withstand prolonged exposure to the sun. Steel is less susceptible to damage from the harmful UV rays emitted by the sun, which may foster sales.
Principal Consultant
| Country | Revenue Share % (2023) |
|---|---|
| United States | 18.2% |
| Germany | 5.2% |
| Japan | 6.4% |
| Australia | 2.5% |
| North America | 19.8% |
| Europe | 26.9% |
| Country | CAGR % (2023 to 2033) |
|---|---|
| China | 4.6% |
| India | 5.5% |
| United Kingdom | 3.4% |
Increasing Export Activities of Metal Strapping Tools to Fuel Growth in India
As per the Directorate General of Foreign Trade, a developing country like India has augmented the export of around 24.0% of trade in electronic goods to the world from 2021 to 2022. The country's total export to the United States was around USD 61.5 billion by the same year.
Thus, the country's increasing demand for electronics, leather products, and textiles is set to drive the market. As per FMI, the India metal banding machine market was valued at USD 31 million in 2022 and is expected to thrive at an astonishing rate of 5.5% during the forecast period.
Ongoing Advancements in Metal Strapping Machines to Drive Growth in Germany
According to Germany Trade and Invest, Germany is a major supplier of machinery in the world, accounting for about 16% of machinery sales across the globe. The country spends nearly USD 17 billion annually on innovation and USD 2.6 billion on Industry 4.0 solutions.
There are about 6,600 companies in Germany and more than 1 million employees in the value chain. Owing to ongoing industrial development, demand for various types of machines, including metal strapping machines, is set to grow in Germany.
As per FMI, the Germany metal banding machine market is projected to create an absolute $ opportunity of around USD 17 million during the forecast period. Germany is a leader in foreign direct investment in Europe, thereby allowing major players to establish their manufacturing facilities in the country.
| Category | By Automation Type |
|---|---|
| Leading Segment | Automatic |
| Market Share% (2022) | 48.8% |
| Category | By Orientation Type |
|---|---|
| Leading Segment | Horizontal |
| Market Share% (2022) | 61.0% |
Manufacturers Are Preferring Automatic Steel Banding Machines
By automation, the automatic segment is expected to create a total incremental opportunity of USD 216 million in the next decade, finds FMI. Automatic machines work faster, as compared to manual machines. The segment held a market share of 48.8% in 2022.
These also enable manufacturers to keep up with high demand from customers for various products that need to be immediately packed and delivered on time. Automatic machines perform multiple tasks at the same time, which may surge their popularity in the upcoming decade.
Horizontal Metal Strap Binding Machines to Gain Immense Popularity
Based on orientation, the horizontal metal banding machine segment is expected to hold the leading market share of 69% by the end of 2033. Horizontal banding machines pack many products from start to finish to achieve the right size and tightness. The segment held a market share of 61.0% in 2022.
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The global metal banding machine market is highly fragmented and competitive, with several small- and mid-sized companies. Key players are adopting a wide variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships to compete with their rivals.
Recent Developments:
The growth potential of this market is 4% through 2033
North America is projected to emerge as a lucrative market.
Expansion of the e-commerce industry may drive the market growth.
Germany is likely to generate a 5.2% revenue share in 2023.
Australia is expected to have a market share of 2.5% in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Automation 5.1. Manual 5.2. Semi-automatic 5.3. Automatic 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Orientation 6.1. Horizontal 6.2. Vertical 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Signode Industrial Group LLC 17.2. Cyklop International 17.3. Dongguan Xutian Packing Machine Co. Ltd 17.4. Fromm Holding AG 17.5. North Shore Strapping Inc 17.6. Polychem Corporation 17.7. Transpak Equipment Corp 17.8. VENUS HARTUNG PTY LTD 17.9. GTI Industries Inc 17.10. Bystronic Laser AG 17.11. TRUMPF GmbH + Co. KG 17.12. transfluid® Maschinenbau GmbH 17.13. WAFIOS AG 17.14. Pines Engineering & H&H Tooling 17.15. SOCO Machinery 17.16. Euromac 17.17. Schwarze Robitec GmbH 17.18. Numalliance 17.19. Inductaflex Ltd. 17.20. Stierli Bieger AGWio 18. Assumptions & Acronyms Used 19. Research Methodology
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Metal Banding Machine Market
