In 2023, the global pallet banding machine market is expected to be worth USD 3067.1 million. With increasing usage across automotive, food & drinks, pharmaceuticals, consumer items, and so on, the overall demand for pallet banding machines is predicted to rise at a 5% CAGR, hitting USD 4,995.9 million by 2033.
According to the FMI analysis, the global pallet banding machine market is projected to expand 1.7 times the current market value during the forecast period. These machines are increasingly installed across industries to ensure the package's safety while shipping.
The semi-automatic pallet banding machine type segment is expected to hold a market share of 52% by the end of 2033.
The Canada pallet banding machine market is expected to witness an incremental growth of 1.8x during the forecast period, with total sales of pallet banding machines likely to reach USD 111.0 million by 2023. FMI predicts Canada's pallet banding machine market size is expected to expand by 5.7% over the forecast period.
Sustainability Takes Centre Stage: Pallet Banding Machines on the
Market (From 2018 to 2022)
| Attribute | Details |
|---|---|
| Market HCAGR (From 2018 to 2022) | 3.6% |
| Market Size - 2018 | USD 2,533.0 million |
| Market Size - 2022 | USD 2,921.0 million |
Market (From 2023 to 2033)
| Attribute | Details |
|---|---|
| Market CAGR (From 2023 to 2033) | 5% |
| Market Size - 2023 | USD 3,067.1 million |
| Market Size - 2033 | USD 4,995.9 million |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global pallet banding machine market is anticipated to rise at a CAGR of 5% between 2023 and 2033, compared to the 3.6% CAGR registered from 2018 to 2022.
The growing need for the safe shipping of various products and rising demand for pallet banding in the packaging industry are key factors driving the growth of the pallet banding machine market.
Pallet banding machines are used for numerous industrial and commercial uses as it provides a more efficient method for applying bands without damaging the product. Among the prominent businesses where pallet banding machines are mostly used are food & beverages, pharmaceuticals, consumer products, shipping & logistics, etc.
The market value is projected to escalate in the coming few years as pallet banding machines are great for quickly wrapping a large or small amount of goods and boosting the overall productivity of a business.
Booming Building & Construction Industry in Developing Countries Boosting Demand for Pallet Banding Machines
Building & construction industries in developing countries such as India, China, Brazil, and others are showing significant growth due to urbanization and growing population. The need for pallet banding machines is rising to facilitate the movement of goods and raw materials to construction sites.
To develop infrastructure related to transport, education, and health sectors, the government contracts with the construction industry, this is important for the economic growth of a nation. Pallet banding machines secure a package of construction products by tightening bands around them.
Thus, the increasing building and construction industry in developing countries is boosting the demand for pallet banding machines, and the trend is likely to continue during the forecast period.
Rapid Growth of the Packaging Industry to Boost Pallet Banding Machine Sales in 2023 and Beyond
With changing lifestyles, a rising population, increasing income levels, and a growing economy, industries like packaging have rapidly grown over the last few decades. This has acted as a catalyst in boosting the sales of pallet banding machines.
Pallet banding machines are widely used in the packaging industry to unitize or palletize or bundle numerous products together. They help users in reducing packaging as well as labor costs.
Most manufacturers across the globe are inclining towards fully-automatic pallet banding machines and semi-automatic pallet banding machines to cut the need for human intervention for packaging.
During the forecast period, the rapid expansion of the packaging industry, coupled with the rising penetration of automation, expanded the global pallet banding machine market size.
Principal Consultant
| Attributes | Details |
|---|---|
| North America Market Share - 2023 | 22.5% |
| United States Market Share - 2023 | 17.5% |
| Australia Market Share - 2023 | 1.8% |
Increasing Adoption of Advanced Packaging Solutions Pushing Pallet Banding Demand in the United States
The United States is projected to hold the largest market share of around ~92% in the North American pallet banding machine market in 2023. The rising adoption of advanced packaging solutions, flourishing export business, and the heavy presence of leading pallet banding machine manufacturers are key factors surging growth in the United States market.
As per an industry report published by the Association of Packaging and Processing Technologies (PMMI) in 2018, United States domestic shipments of packaging machinery are estimated to reach USD 8.8 billion by the end of 2023.
| Attributes | Details |
|---|---|
| Japan Market Share - 2023 | 2.2% |
| China Market CAGR (From 2023 to 2033) | 5.8% |
| India Market CAGR (From 2023 to 2033) | 5.1% |
Rapid Expansion of Manufacturing Sector Driving Growth in the Indian Pallet Banding Machine Market
The pallet banding machine in India is projected to expand at a CAGR of 8.6% during the forecast period, owing to the booming manufacturing sector and growing demand for effective packaging solutions.
According to the Packaging Industry Association of India (PIAI), the packaging market of the country is anticipated to reach USD 2014.81 billion by the end of 2033, registering a CAGR of 26.7% from 2023 to 2033. This major growth in the packaging market and the Indian manufacturing sector is expected to drive the demand for pallet banding machines in the country.
| Attributes | Details |
|---|---|
| Europe Market Share - 2023 | 30.2% |
| Germany Market Share - 2023 | 6.7% |
| United Kingdom Market CAGR (From 2023 to 2033) | 3.2% |
Due to the rising demand for efficient and secure load stabilization solutions, the German pallet banding machine industry is expanding rapidly. Pallet banding machines provide dependable strapping and bundling solutions for various sectors as the emphasis on optimizing supply chain processes grows.
The market is seeing the advent of technologically improved and automated technologies that increase productivity while lowering labor expenses. Key industry players focus on product innovation and strategic collaborations to acquire a competitive advantage in this rising market segment.
| Segment | Machine Type |
|---|---|
| Segment Name | Semi-Automatic Pallet Banding Machine |
| Segment Share | 62.6% |
Semi-automatic Pallet Banding Machines Remain the Top Selling Products in the Market
According to FMI, the semi-automatic pallet banding machine type segment has the highest market share in the pallet banding machine market. This is attributable to the rising end-user preference for semi-automatic banding machines.
Semi-automatic banding machines give hands-free banding options, improving accuracy and productivity. These machines are suitable for producing objects that differ in shape and size.
FMI predicts that the semi-automatic pallet banding machine type segment may hold a significant market share of around 5262.6% by 2033.
| Segment | End Use |
|---|---|
| Segment Name | Food & Beverages |
| Segment Share | 49.2% |
Food and Beverage Industry to Contribute Most to the Global Pallet Banding Machine Market
Based on end-use, the food & beverage segment is expected to grow at a CAGR of 4.5% during the forecast period of 2023 and 2033. This can be attributed to the rapidly expanding food and beverage industry across the globe, along with the rising adoption of advanced packaging solutions to improve overall productivity and reduce costs.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Key pallet banding machine market players use various marketing techniques, including acquisitions, expansions, and partnerships. They also focus on new product creation to expand their market presence among customers.
Signode Packaging Systems Corporation, TransPak, and Strapack, Inc. to Steal the Spotlight for Pallet Banding Machine
Since its establishment in 1933, StarPack Inc has become one of the largest producers of pallet banding machines, hand tools, strapping machines, etc. The company has a well-established customer base and has earned its solid reputation as the world's most dependable strapping and banding machine.
It is continuously putting efforts into grabbing opportunities arising from various industries.
Similarly, Transpak (founded in 1983) has become a global leader in pallet banding machines worldwide. The company continuously advances pallet banding and strapping machinery to improve its revenue share.
As per Chi-Jan Su (senior adviser & owner), Transpak's annual foreign sales hit a record high of USD 55.6 million in 2021. Revenue in the first quarter of 2022 increased by 33.5%. Most of this revenue comes from significant sales increases in specialty (transit) machines.
The company partnered with leading organizations like Prysm and NASA in 2016 to handle these clients' packaging, transport, and logistics. These strategies are aiding in the growth of the company's revenues.
Another leading manufacturer and provider of pallet banding machines are Signode Packaging Systems. The company has taken various steps occasionally to upgrade its portfolio and expand its presence.
However, with growing opportunities in the pallet banding machine market space, new startups are expected to enter the market space. This may make the global pallet banding machine market more competitive during the next decade.
| Company | FIEFER |
|---|---|
| Strategy | Launch |
| Details | In January 2021, FIEFER introduced TP-502MV series machines, a cost-effective and ergonomic solution for vertical banding of pallets with lower packaging frequency. |
| Company | Cyklop International |
|---|---|
| Strategy | Introduction |
| Details | In July 2019, Cyklop International stretch wrapper introduced CSM 50 to make manual wrapping much easier. |
The market is valued at USD 3067.1 million in 2023.
FIEFER and Cyklop International are key market players.
Food and Beverage Industry is the leading end-user in the market.
Semi-automatic pallet banding machines is the most preferred pallet banding machine.
The market is estimated to reach USD 4,995.9 million by 2033.
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 Machine Type 5.1. Fully-Automatic 5.2. Semi-Automatic 5.3. Mobile 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Banding Type 6.1. Horizontal Banding 6.2. Vertical Banding 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Speed 7.1. Less than 20 pallets/hour 7.2. 20-30 pallets/hour 7.3. 30-40 pallets/hour 7.4. Above 40 pallets/hour 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 8.1. Food & Beverages 8.2. Pharmaceutical 8.3. Consumer Product 8.4. Shipping & Logistics 8.5. Automotive 8.6. Textile and Handcraft 8.7. Building & Construction 8.8. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Signode Packaging Systems Corporation 19.2. ISG PACK 19.3. FEIFER 19.4. TransPak 19.5. Cyklop International 19.6. Reisopack 19.7. Vestil Manufacturing Corp. 19.8. Sorma Group 19.9. The Plastic Strapping Company Ltd 19.10. Qingdao Ausense Packing Equipment Co., Ltd 19.11. Allstrap Steel & Poly Strapping Systems LLC 19.12. Shenzhen Henno Packaging Technology Co., Ltd 19.13. Mosca GmbH 19.14. Propel Packaging Technology Limited 19.15. Strapack, Inc. 19.16. Jia-in Industry Co., Ltd. 19.17. W rent, s. r. o. 19.18. Plasticband, S.A. 19.19. ErgoPack 19.20. Jining Myway Machinery Co., Ltd. 20. Assumptions & Acronyms Used 21. Research Methodology
Explore Packaging Insights
View Reports
Pallet Banding Machine Market
