The packaging tensioner market has grown steadily, increasing from $1.03 billion in 2023 to $1.07 billion in 2024, at a CAGR of 4.3%. This growth is attributed to the Industrial Revolution, material advancements, automotive industry expansion, global trade, consumer goods boom, pharmaceutical product demand, and worker safety concerns. The market is expected to reach $1.28 billion by 2028, growing at a CAGR of 4.5%. Key drivers include packaged goods demand, e-commerce expansion, technological advancements, regulatory changes, and industry growth. Trends include automation and smart technology, sustainability, ergonomic design, digital connectivity, energy efficiency, and safety features.
Major Driver In The Packaging Tensioner Market
The packaging tensioner market is set to grow significantly with the expansion of e-commerce. E-commerce is booming due to its convenience and broad product selection. Packaging tensioners are crucial in e-commerce for securing goods during transit and enhancing product safety. The United States Census Bureau reported a 2.1% increase in U.S. retail e-commerce sales in Q1 2024, reaching $289.2 billion. This growth in e-commerce is expected to drive the demand for packaging tensioners.
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Packaging Tensioner Market Competitive Landscape
Uline Inc., Samuel Packaging Systems Group, MJ Maillis Group, Lantech, Polychem Corporation, Signode Industrial Group, Dynaric Inc., EAM-Mosca Corporation, Cyklop International, Schneider Packaging Equipment Co., Inc., ATS-Tanner Banding Systems AG, Orgapack, Highlight Industries, Inc., Plasticband S.A., MeadWestvaco Corporation (MWV), Fromm Packaging Systems, Packline USA, StraPack Inc., Phoenix Wrappers, Transpak Equipment Corp., Venus Packaging, Cousins Packaging Inc., Felins USA Inc., Complete Packaging Systems, Get Packed Pty Ltd, ITATOOLS Srl
Key Packaging Tensioner Market Trend
The packaging tensioner market is evolving with battery-operated tensioners that improve efficiency and reduce manual effort. In February 2022, Signode launched the BPT Steel Strapping Hand Tool, a battery-operated device designed for heavy-duty steel strapping applications. This tool offers advanced features compared to traditional manual or pneumatic tools, including balanced, lightweight design and high-tension force capabilities, making it ideal for both stationary and mobile applications requiring robust performance and safety.
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Packaging Tensioner Market Segmentation
The packaging tensioner market covered in this report is segmented –
1) By Material: Plastic, Polyester, Polypropylene, Metal, Steel, Aluminum
2) By Operation: Manual, Battery-operated
3) By End-User: Food And Beverages, Pharmaceuticals, Chemicals, Building And Construction, Agriculture, Automotive, Logistics And Transportation, Homecare, Other End-Users
By Geography:The regions covered in the packaging tensioner market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the packaging tensioner market in 2023.
The Packaging Tensioner Global Market Report 2024 furnishes information about the global packaging tensioner market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
