Global cartoning machines market is expected to grow at a compound annual growth rate of 4.03% to reach a market size of US$4,912.438 million by 2024 from US$3,875.946 million in 2018. Cartoning Machines refers to a type of packaging machines used for the purpose of forming cartons. These machines are suitable for packing products into boxes with automatic loading. Products can be loaded into the machine infeed manually by the operator or automatically by a mechanical unit. The demand for these machines is expected to expand on account of the growing use of carton packaging in various industries. Further, the growing FMCG industry along with the need to transport and store products is anticipated to drive the market for these machines. Additionally, rising of e-commerce industry along with logistics industry in few regions is projected to provide growth opportunities during the forecast period. The cartoning machines market has been segemented by machine type, end user and geography. In machine type segment the horizontal cartoning machine is expected to hold a significant market share, while the vertical cartoning machine is expected to witness a substantial growth. Furthermore, in the end user segment the food and healthcare sector are projected to witness a significant growth owing to the transportation and storage of food and clinical products.
Geographically, Asia-Pacific is anticipated to hold a dominant share of the cartoning machines market on account of the rising e-commerce and logistics industry. Europe and North America are also projected to witness a steady growth during the forecast period.
Some of the major players profiled in the cartoning Machines market include Loesch Verpackungstechnik GmbH, Shibuya Corporation, Mpac Group plc, ADCO Manufacturing, Bradman Lake Group Ltd., Pakona Engineers Pvt Ltd., Jacob White Packaging Ltd., Engelmann & Buckham Ltd., EconoCorp Inc., and Robert Bosch Packaging Technology GmbH, among others.
The cartoning machines market has been analyzed through the following segments: