Palletizer Market is Expected to Reach US$ 2.9 Billion by 2034 | Future Market Insights, Inc.
Palletizer is one of the most significant equipments among the automated material handling systems. Depending on the need, conventional palletizers or robotic palletizers are used to automate the pallet building process in a warehouse, distribution, or manufacturing facility.
/EIN News/ -- NEWARK, Del, July 15, 2024 (GLOBE NEWSWIRE) -- The palletizer market is anticipated to be valued at US$ 2.4 billion by 2024. The market valuation is estimated to be US$ 2.9 billion by 2034, projected at a CAGR of 2.2%.
The rise in the need for automation in sectors such as manufacturing, food and beverage, and medicines is one of the main motivators leading to market growth. Palletizers tend to save labor expenses and minimize errors, which regulate efficiency and consistency in the stacking and palletizing of items.
Another motivating aspect is the prominence of workplace efficiency and safety requirements. Palletizers contribute to a better working environment by lowering the rate of risk of injuries related to manual palletizing procedures.
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The surge of the retail and e-commerce industries globally is driving more opportunities in the palletizer market. Palletizing solutions are needed to be in high demand as items must be handled quickly and effectively for distribution and logistical reasons.
Threats and obstacles also challenge the market. The high cost of palletizing system installation and maintenance. Palletizer solutions can be extremely expensive for small and medium-sized businesses to implement, mainly in developing nations.
Nevertheless, technological innovations such as software integration and robotic palletizers have expanded industrially to address these obstacles and opportunities. To meet changing consumer expectations, manufacturers are spending more money on research and development to enhance of the effectiveness, versatility, and adaptability of palletizing systems.
Key Takeaways from the Market Study:
- Under machine type, the robotic segment holds a market share of 57.6% in 2024.
- The United Kingdom is estimated to register at a CAGR of 1.5% by 2034.
- China is anticipated with a significant growth, projected at a CAGR of 4.4% by 2034.
- Based on product type, the cases and boxes segment is accounted to hold a market share of 45.2% in 2024.
- The pharmaceutical sector also plays an essential role in the palletizer industry.
“The boost in demand for automation across industries is one significant driver for the palletizer market,” says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Food & Beverages Industry Offers Potential Growth:
The food and beverage industry has always been a key contributor to enhancing the market revenue of palletizers. As the competition between retailers continues to intensify and government regulations become more stringent, the retailer demands continue to increase.
Competitive Landscape:
Major multiple competitors in the palletizer market are fighting for market share, creating a competitive environment. Companies with a broad range of products and a global presence, tend to dominate the market.
Technology breakthroughs and innovation drive palletizing solutions that meet various industry needs due to intense competition. Some of the key developments are:
- In August 2021, Geek+ unveiled a new Smart Mixed Case palletizing solution in collaboration with WSR Solutions, a warehouse management tools provider. The solution integrated Geek+ autonomous mobile robots with WSR's palletizing algorithm to streamline outbound order processing efficiently and safely.
- In October 2020, Robotiq Inc. introduced a new robotic palletizing solution tailored for lower throughput applications with frequent task and size changes. The solution offered fully connected, plug-and-play software and hardware with pre-selected functions.
North America to Occupy Significant Market Share:
The United States is one of the largest and most developed markets for adopting new and innovative palletizing solutions. The strong economy, with notable port traffic, increased e-commerce activity, and key manufacturing indices, results in significant growth in manufacturing and is poised to drive the demand for palletizing solutions in the country.
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Report Scope:
| Attributes | Details | |
| Estimated Market Size in 2024 | US$ 2.4 billion | |
| Projected Market Valuation in 2034 | US$ 2.9 billion | |
| Value-based CAGR 2024 to 2034 | 2.2 % | |
| Forecast Period | 2024 to 2034 | |
| Historical Data Available for | 2018 to 2023 | |
| Market Analysis | Value in US$ billion | |
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Companies Profiled |
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More Valuable Insights Available:
Future Market Insights offers an unbiased global palletizer market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the palletizer market is segmented based on Machine Type [Conventional Palletizers (Low-level, High-level), Robotic (Anthropomorphic, Gantry)], Product Type (Cases & Boxes, Bags & Sacks, Pails & Drums, Trays & Crates, Bundles), End-User Industry (Food Industry, Beverage Industry, Pharmaceutical Industry, Cosmetics Industry, Chemical Industry, Construction Industry, Others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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