The global bundling machine market is estimated to hit a valuation of USD 4,095 million in 2024 and anticipated to reach a value of USD 5,721.3 million by 2034. Sales revenue of bundling machines industry is projected to rise at a CAGR of 3.4% over the forecast period. The revenue generated by bundling machine in 2023 was USD 3,979.5 million. The industry is anticipated to exhibit a Y-o-Y growth of 2.5% in 2024.
Automatic bundling machines are poised to dominate the global bundling machine market, commanding over 50% market share and are projected to generate an incremental opportunity of USD 1,100.3 million during the upcoming decade.
The dominance of automatic bundling machines is attributed to their improved efficiency and precision in streamlining the packaging and bundling process. Automatic bundling machines integrated with IoT and AI help to increase the effectiveness of process allowing productive maintenance and real-time monitoring.
Tabletop bundling machines are anticipated to expand at 1.5 times its current market value attaining a CAGR of 4.2% during the assessment period. These tabletop machines are compact and versatile which makes them ideal for small and medium scale players operating in limited space and investment. The rising trend of small batch production in food, pharmaceutical, and retail further drives the demand for tabletop bundling machines.
Continuous bundling machines are estimated to capture more than 55% of value share by 2034 expanding at a 3.6% growth rate during the assessment period. These machines can operate continuously at high speed and require minimum downtime which is preferred for high production capacity. Rapidly increasing demand for reliable and cost-effective bundling machines is contributing to its market share growth.
The application of bundling machines in the building and construction sector is increasing because of rising infrastructure development, urbanization, and renovation activities across the globe. These machines are increasingly used in the construction industry for securing pipes, lumbers, rods, and many other different types of construction material which may not be possible by any other means.
The bundling machine industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 1.6 billion and is predicted to rise 1.4 times the current market value through 2034.
Key Industry Highlights
Application of Sustainable Materials in Strapping Machines
Strapping machines are used extensively in numerous industries and it has become necessary to integrate sustainability practices with them. Rising demand for sustainable packaging solutions escalated by single-use plastic ban across various regions all over the globe.
This trend has significantly impacted the strapping machines to meet the changing demand from the industry. Sustainable strapping machines will reduce the environmental impact during their usage by the development of biodegradable or recyclable strapping materials. This material will reduce wastage and promote circular economy goals.
Materials such as Polylactic acid (PLA) and Polyhydroxyalkanoates (PHA), derived from natural resources can be used as they are compostable and easily break down. One can also use recycled polymers like PET so that it diverts the landfill waste reducing the dependence on virgin plastic.
Recycled plastic straps have the required durability and strength as the traditional. Companies can use paper straps that are recyclable, lightweight, and biodegradable for applications where minimum strap strength is required. Bio-based and natural fiber straps can be used in the machines making them more sustainable and suitable for a wide range of applications.
Advanced Automation Trends in Bundling Machines
Automated bundling and strapping solutions are experiencing rising demand driven by cost-effective and time-efficient strapping solutions minimizing waste. The incorporation of automation in bundling and strapping machines with advanced technologies including artificial intelligence, robotics, and advanced sensors, is revolutionizing the process of bundling.
Automated strapping machines are capable of intelligently analyzing the package specifications including size, shape, weight, etc. and automatically select the optimum strapping process for the same. The adoption of advanced automation in strapping machines is a prominent contributor to market growth resulting in greater efficiency and competitiveness among the industry.
High Initial Investment Restricts Market
Bundling machines require higher investment costs which hamper the market growth. These machines are expensive, especially the automated one that offers higher efficiency, precision, and scalability. Along with the high cost of purchasing and installation, these will also include the cost of additional expenses for training and maintenance.
This will be a significant barrier, particularly for small and medium-sized enterprises limiting its adoption. Despite this bundling machines offer long-term benefits in terms of efficiency gains, labor savings, and enhanced productivity, making them a valuable investment for companies aiming to scale their operations and remain competitive in the market.
Country-wise Insights
United Kingdom Construction Boom Spurs Demand for Bundling Machines
The UK bundling machine market is poised to exhibit a value share of 18.8% of North America in 2024, further expanding over USD 184 million by 2034. The construction market in the UK is projected to experience significant growth. This growth is supported by an increased demand for construction materials such as timber, pipes, bricks, and insulation in the country.
Bundling machines, especially strapping machines, are essential in the efficient packaging of construction materials for transportation and storage. Bundling of the construction materials streamlines the bundling and shipping reducing labor-intensive work. Bundling machines including automatic strapping machines offer rapid bundling capabilities and minimize the reliance on manual labor.
The burgeoning construction sector in the UK creates significant opportunities for the bundling machine market, driven by the rising demand for efficient bundling solutions to support the transportation and storage needs of construction materials.
Rising E-commerce in Germany Drives Demand for Efficient Strapping Solutions
Germany’s market is anticipated to grow at a CAGR of 1.3% throughout the forecast period, amounting to a valuation of USD 217.9 million by 2034. Growing e-commerce activity creates a pressing need for efficient packaging solutions.
E-commerce platforms like Amazon, Flipkart, eBay, Walmart, etc. handle and transport wide numbers of orders every day. These companies need to fulfill a fast delivery along with maintaining product safety which is generating the need for strapping machines.
Strapping machines bundle multiple packages together streamlining the transportation and reducing handling time. For example, a warehouse dealing with thousands of daily orders utilizes automated banding machines to efficiently prepare packages for dispatch. These machines ensure they are tightly secured and protected during transit.
High Finished Steel Consumption in India Push the Bundling Machine
India is projected to reach USD 560 million in revenue expanding at a 6.6% growth rate by the end of the assessment period. Increasing consumption of steel in India is anticipated to supplement the demand for bundling machines driven by the urbanization and expanding building and construction sector.
India is the largest crude steel producer which is likely to impact the demand for bundling machines in the country. The rising exports and imports of finished steel in India are contributing to the growth of bundling machines for safe and protected shipping. Increasing investment and government initiatives are also pushing the Indian steel industry growth which will generate a positive growth outlook for the bundling machines market.
Competitive Landscape
Recent Industry Developments in Bundling Machine Market
· In October 2023, Signode and Repsol jointly developed the first post-consumer recycling solution for polypropylene strapping. The company has also introduced a new battery-powered tool for Sealless Steel Strapping in December 2022.
· In September 2023, Cyklop completed the acquisition of Marchetti Packaging Srl, a well-established Italian packaging company. This acquisition strengthens Cyklop’s presence in the taping sector in Europe.
These insights are based on a report by Ismail Sutaria Bundling Machine Market by Future Market Insights.