What Has Been the Progress and Growth of the Converting Equipment Market in Recent Years?
The converting equipment market has seen considerable growth due to a variety of factors.
• In recent times, there has been robust growth in the size of the converting equipment market. This market is projected to increase from $43.01 billion in 2024 to $45.22 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.1%.
The historical growth of this market is associated with the expansion of the packaging industry, the globalization of supply chains, growth in consumer goods manufacturing, a rise in disposable income, regulatory compliance, and the advent of e-commerce.
What Can Be Expected from the Converting Equipment Market Size?
The converting equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of converting equipment is anticipated to experience consistent expansion in the upcoming years, with its valuation predicted to reach $54.38 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.7%.
The projected boost during this period can be credited to rising requirements for pharmaceuticals, manufacturing of flexible electronics, swift prototyping and limited-run production, the need for intelligent packaging, and a concentration on sustainability. Predominant trends in the forecast period encompass integration of Industry 4.0, flexibility and customization, digitization of workflow, progress in printing technologies, and adoption of automation to optimize labor.
What Are the Critical Driver Fuelling The Converting Equipment Market's Growth?
The anticipated growth in the converting equipment market is believed to be influenced by the rise of personalization and premium labeling. Personalization essentially involves tailoring a product, service, or message to fulfill the specific needs and aspirations of an individual or organization. Premium labels, on the other hand, are private labels offering superior quality products at a cost higher than other private labels available in the market. To create high-quality customized labels, containers, billboards, stickers, apparel, and other accessories, both personalization and premium labels utilize converting equipment. For example, a study involving 13,020 consumers and 3,916 business buyers by Salesforce in May 2022 revealed that 61% of consumers trusted companies to use their personal data relevantly and beneficially in 2021, up from 52% in 2020. Likewise, 73% of consumers expected businesses to cater to their specific demands and expectations. Consequently, the adoption of personalization and premium labels is fostering market growth.
Converting Equipment Market Driver: Manufacturing Growth Fuels The Converting Equipment Market
How Is The Converting Equipment Market segmented?
The converting equipment market covered in this report is segmented –
1) By Type: Manual, Semi-Automatic, Automatic
2) By Maximum Operating Speed: Less Than 300 M/Min, 300 To 600 M/Min, 601 To 800 M/Min, Above 800 M/Min
3) By Substrate: Paper, Plastic, Metal, Textile
4) By Application: Food And Beverages, Household Cleaning Products, Electronics, Cosmetics, Pharmacy And Healthcare, Other Applications
Subsegments:
1) By Manual: Handheld Converting Tools, Manual Cutting Machines
2) By Semi-Automatic: Semi-Automatic Cutting Machines, Semi-Automatic Folding Equipment
3) By Automatic: Fully Automatic Cutting Machines, Fully Automatic Folding And Gluing Machines
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Which Emerging Market Trends Are Altering The Converting Equipment Industry?
Leading firms in the converting equipment market are turning their attention to the creation of cutting-edge products such as precision rotary die-cutting machines to cater to the requirements of their clientele more effectively. The precision rotary die-cutting mechanism is essentially a machine that has a sharp blade affixed onto a rotating cylinder, and as the cylinder spins, the material gently moves into the machine, enabling it to skillfully cut through various materials like paper, fabric, and leather. For example, in September 2022, JBC Technologies Inc., a renowned converting equipment manufacturer based in the U.S, renowned for its development of die-cutting and non-metallic fabrication products, introduced the novel Dorey Converting Systems (DCS) precision rotary die-cutting press. This game-changing rotary press is recognised for its superior ability to create detailed die-cut components, amalgamate different materials, execute precise tolerances with complex die-cut forms, and carry out operations like island placement all in one line. The press is equipped with a six-camera integrated closed-loop vision system to oversee high-speed production. Additionally, a key feature of the latest DCS rotary die-cutting press's in-line vision system is the strategic placement of inspection cameras post-production.
Who Are the Key Players In The Converting Equipment Market?
Major companies operating in the converting equipment market report are:
• Parkland International
• Nordson Corporation
• Bobst Group SA
• Davis-Standard LLC
• Wittenstein SE
• Paper Converting Machine Company (PCMC)
• Mark Andy Inc.
• Kampf Machinery Corporation
• C. G. Bretting Manufacturing Co. Inc.
• Rotometrics International Ltd.
• Nordmeccanica Group
• Comexi Group
• Parkinson Technologies Inc.
• Delta Industrial Services Inc.
• Karlville Development LLC
• Ghezzi & Annoni S.R.L.
• Elsner Engineering Works Inc.
• New Era Converting Machinery Inc.
• Ashe Converting Equipment
• Catbridge Machinery LLC
• Tidland Corporation
• Atlas Converting Equipment Ltd.
• Keene Technology Inc.
• AZCO Corp
• Universal Converting Equipment
• Maxson Automatic Machinery Company
• Schober USA Inc.
• CMS Industrial Technologies LLC
• Uteco Converting S.p.A.
• Valmet Oyj
What Is The Most Dominant Region In The Converting Equipment Market?
Asia-Pacific was the largest region in the converting equipment market in 2024. The regions covered in the converting equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
