LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global labeling equipment market to grow at a CAGR of more than 3% during the period 2018-2022, according to their latest market research report.
The increasing preference for modular labeling machines is one of the major trends being witnessed in the global labeling equipment market. Modular labeling machinery reduces costs and provides better space management and greater operational flexibility for adjusting to different product formats. Vendors must ensure that such machinery provides maximum versatility in terms of producing multiple formats on a single machine and has a high-speed capacity to match the latest labeling and product designs.
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In this report, Technavio analysts highlight the increase in the adoption of automated labeling machines as a key factor contributing to the growth of the global labeling equipment market:
Global labeling equipment market: Increase in the adoption of automated labeling machines
Process industries are adopting automation in their manufacturing process to increase production and operational efficiency. The packaging and labeling processes have been mechanized, and various steps have been initiated by the vendors to produce automated labeling machines to address the growing end-user demands. Implementation of robotic technologies has enhanced the packaging process output.
According to a senior analyst at Technavio for engineering tools, “Labeling machinery is equipped with sensors and programmable logic controllers that communicate with the human machine interface devices through different communication protocols. Servo drivers are employed to apply labels and synchronize conveyor movements and labeling tasks.”
Global labeling equipment market: APAC dominates the global market with 39% share
This market research report segments the global labeling equipment market into the following products (PS, rotary, sleeve, roll fed, and combination), end-users (beverages, food, pharmaceuticals and personal care products, and chemicals), and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the five major products, the PS segment held the largest market share in 2017, contributing to nearly 38% of the market. This product segment will dominate the global market throughout the forecast period.
APAC held the largest regional share of the global labeling equipment market in 2017. It accounted for a market share of approximately 39%. This region is expected to grow steadily during the period 2018-2022.
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