The Food Packaging Equipment Market size was estimated at USD19.87 billion in 2022 and is expected to reach USD 29.3 billion by 2030 at a CAGR of 4.98% during the forecast period of 2023-2030.
Various automation devices control a substantial portion of the food packaging equipment market in the food sector. These machines execute activities such as filling, bagging, sealing, wrapping, bundling, cartoning, over-capping, lidding, labeling, decorating, coding, conveying, and palletizing. The growth of technology has led to the creation of various food packaging equipment to retain the effectiveness, flavor, and taste of food commodities. Increased knowledge of healthy and sanitary food items, as well as the expectation that they will be safe from the time they are packaged until they arrive, are expected to drive market growth. The market is expected to expand because of an increase in demand for appealing, imaginative, and easy-to-carry packaging that distinguishes the product from its competitors.
.png)
To get more information on Food Packaging Equipment Market - Request Free Sample Report
MARKET DYNAMICS
DRIVER
Population increase and age distribution
The size and rate of population expansion can have a direct impact on the demand for packaged food items, which in turn drives the need for food packaging equipment. The population's age distribution can influence consumer preferences and trends, perhaps leading to changes in packaging needs (for example, convenience packaging for younger, on-the-go customers).
RESTRAIN
Regulations governing food safety, environmental regulations, labeling, and ingredient disclosure
Food safety rules that are strict might create demand for innovative packaging technology that assures product integrity and compliance with safety requirements. As environmental concerns grow, legislation encouraging sustainable packing techniques may emerge, impacting equipment selection. Labeling and ingredient disclosure regulations can have an influence on packaging design and the equipment used to print labels.
OPPORTUNITY
Customization and personalization, technological advances, and e-commerce growth
Opportunities occur as new packaging technologies, such as smart packaging, are developed, which may improve product distinctiveness and customer interaction. The rise of e-commerce and direct-to-consumer sales creates a need for packing equipment intended for efficient shipment and handling. Consumer desires for bespoke packaging solutions may open doors for equipment makers to offer customizable alternatives.
CHALLENGES
Economic Conditions, Supply Chain Disruptions, and the Competitive Environment
Economic issues, such as recessions, can limit consumer spending and, as a result, influence demand for packaged goods and, as a result, packaging equipment. Supply chain disruptions can pose difficulties for equipment makers by affecting the availability of raw materials and components. Pricing constraints and issues sustaining profit margins might result from intense rivalry among equipment makers.
IMPACT OF RUSSIA UKRAINE WAR
The war has resulted in the evacuation of over 300 large Western corporations as well as the widespread closure of packaging and manufacturing facilities in both Ukraine and Russia. Uncertainty about when it will end has also made some firms hesitant to halt operations, either reducing them or closing them down.
IMPACT OF ONGOING RECESSION
Dynamics of Export and Import During a recession, international trade might suffer, hurting food exports and imports. This, in turn, might affect demand for packing equipment, particularly in trade-dependent nations. Efficiency and automation Food firms may invest in automation and more efficient packing equipment to compensate for reduced worker availability or increasing labor expenses. This trend has the potential to generate innovation and growth in specific market categories. E-commerce and direct-to-consumer trends E-commerce and direct-to-consumer sales may prosper amid economic downturns. This may result in a rise in demand for specialized packing equipment designed for shipment and home delivery.
KEY MARKET SEGMENTATION
By Equipment Type
Filling
Bottling
Case Cartoning
Labeling
Palletizing
By Application
Bakery and Confectionery Products
Meat and Poultry Products
Beverages
Others (Grains, Fruits, Nuts and Vegetables, etc.)
.png)
Need any customization research on Food Packaging Equipment Market - Enquiry Now
REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
Asia Pacific has the largest market share and is predicted to expand at the fastest rate over the forecast period. The primary driver for the market is the rapid increase in foreign direct investments by food packaging firms to extend their product range across the area. Rising disposable household income, along with a growing middle-class population in various countries, as China and India, would give further support to the industry, propelling market expansion. India's rapidly expanding food packaging sector is likely to drive regional market growth. According to the National Investment Promotion and Facilitation Agency of India, the country's processed food sector is estimated to reach around USD 543.0 billion by the end of 2020, giving considerable potential for companies working in the food packaging equipment industry.
Europe's food packaging market share is expected to expand rapidly. In Europe, the introduction of severe government laws governing food processing and packaging safety is driving demand for modern food packaging systems with sanitary designs.
The major key players are, MULTIVAC, M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., Krones AG, Tetra Pak International S.A., Robert Bosch Packaging Technology, GEA Group Aktiengesellschaft, Illinois Tool Works Inc., ARPAC LLC., Coesia S.p.A., OPTIMA Packaging Group GmbH, and Other Players
Krones AG-Company Financial Analysis
RECENT DEVELOPMENT
Tetra Pak: In August 2023, announced a $100 million investment in a new food packaging factory in China. The factory will employ environmentally friendly packaging materials and be built to suit Ch
ina's rising demand for food delivery.
Amazon: In September 2023, announced a $500 million investment in a new food packaging factory in the United States. To assist Amazon in satisfying the increased demand for online food delivery, the facility will employ automated packing technology.
| Report Attributes | Details |
| Market Size in 2022 | US$ 19.87 Bn |
| Market Size by 2030 | US$ 29.3 Bn |
| CAGR | CAGR of 4.98% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Equipment Type (Filling, Bottling, Case Cartoning, Labeling, Palletizing) • By Application (Bakery and Confectionery Products, Meat and Poultry Products, Dairy Products, Beverages, Others (Grains, Fruits, Nuts and Vegetables, etc.) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | MULTIVAC, M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., Krones AG, Tetra Pak International S.A., Robert Bosch Packaging Technology, GEA Group Aktiengesellschaft, Illinois Tool Works Inc.,ARPAC LLC., Coesia S.p.A., OPTIMA Packaging Group GmbH |
| Key Drivers | • Population increase and age distribution The size and rate of population expansion can have a direct impact on the demand for packaged food items, which in turn drives the need for food packaging equipment. The population's age distribution can influence consumer preferences and trends, perhaps leading to changes in packaging needs (for example, convenience packaging for younger, on-the-go customers). |
| Market Opportunity | • Customization and personalization, technological advances, and e-commerce growth Opportunities occur as new packaging technologies, such as smart packaging, are developed, which may improve product distinctiveness and customer interaction. The rise of e-commerce and direct-to-consumer sales creates a need for packing equipment intended for efficient shipment and handling. Consumer desires for bespoke packaging solutions may open doors for equipment makers to offer customizable alternatives. |
The Food Packaging Equipment Market is expected to grow at 4.98% CAGR from 2023 to 2030.
According to our analysis, the Food Packaging Equipment Market is anticipated to reach USD 29.3 billion By 2030.
During the forecast period, the filling equipment type is predicted to be the leading sub-segment within the market.
The leading participants in the MULTIVAC, M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., Krones AG, Tetra Pak International S.A., Robert Bosch Packaging Technology.
Yes, you may request customization based on your company's needs.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Food Packaging Equipment Market, By Equipment Type
8.1 Filling
8.2 Bottling
8.3 Case Cartoning
8.4 Labeling
8.5 Palletizing
9. Food Packaging Equipment Market, By Application
9.1 Bakery and Confectionery Products
9.2 Meat and Poultry Products
9.3 Dairy Products
9.4 Beverages
9.5 Others (Grains, Fruits, Nuts and Vegetables, etc)
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Food Packaging Equipment Market, by Country
10.2.2North America Food Packaging Equipment Market, By Equipment Type
10.2.3 North America Food Packaging Equipment Market, By Application
10.2.4 USA
10.2.4.1 USA Food Packaging Equipment Market, By Equipment Type
10.2.4.2 USA Food Packaging Equipment Market, By Application
10.2.5 Canada
10.2.5.1 Canada Food Packaging Equipment Market, By Equipment Type
10.2.5.2 Canada Food Packaging Equipment Market, By Application
10.2.6 Mexico
10.2.6.1 Mexico Food Packaging Equipment Market By Equipment Type
10.2.6.2 Mexico Food Packaging Equipment Market By Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Food Packaging Equipment Market by Country
10.3.1.2 Eastern Europe Food Packaging Equipment Market By Equipment Type
10.3.1.3 Eastern Europe Food Packaging Equipment Market By Application
10.3.1.4 Poland
10.3.1.4.1 Poland Food Packaging Equipment Market By Equipment Type
10.3.1.4.2 Poland Food Packaging Equipment Market By Application
10.3.1.5 Romania
10.3.1.5.1 Romania Food Packaging Equipment Market By Equipment Type
10.3.1.5.2 Romania Food Packaging Equipment Market By Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Food Packaging Equipment Market By Equipment Type
10.3.1.6.2 Hungary Food Packaging Equipment Market By Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Food Packaging Equipment Market By Equipment Type
10.3.1.7.2 Turkey Food Packaging Equipment Market By Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Food Packaging Equipment Market By Equipment Type
10.3.1.8.2 Rest of Eastern Europe Food Packaging Equipment Market By Application
10.3.2 Western Europe
10.3.2.1 Western Europe Food Packaging Equipment Market by Country
10.3.2.2 Western Europe Food Packaging Equipment Market By Equipment Type
10.3.2.3 Western Europe Food Packaging Equipment Market By Application
10.3.2.4 Germany
10.3.2.4.1 Germany Food Packaging Equipment Market By Equipment Type
10.3.2.4.2 Germany Food Packaging Equipment Market By Application
10.3.2.5 France
10.3.2.5.1 France Food Packaging Equipment Market By Equipment Type
10.3.2.5.2 France Food Packaging Equipment Market By Application
10.3.2.6 UK
10.3.2.6.1 UK Food Packaging Equipment Market By Equipment Type
10.3.2.6.2 UK Food Packaging Equipment Market By Application
10.3.2.7 Italy
10.3.2.7.1 Italy Food Packaging Equipment Market By Equipment Type
10.3.2.7.2 Italy Food Packaging Equipment Market By Application
10.3.2.8 Spain
10.3.2.8.1 Spain Food Packaging Equipment Market By Equipment Type
10.3.2.8.2 Spain Food Packaging Equipment Market By Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Food Packaging Equipment Market By Equipment Type
10.3.2.9.2 Netherlands Food Packaging Equipment Market By Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Food Packaging Equipment Market By Equipment Type
10.3.2.10.2 Switzerland Food Packaging Equipment Market By Application
10.3.2.11 Austria
10.3.2.11.1 Austria Food Packaging Equipment Market By Equipment Type
10.3.2.11.2 Austria Food Packaging Equipment Market By Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Food Packaging Equipment Market By Equipment Type
10.3.2.12.2 Rest of Western Europe Food Packaging Equipment Market By Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Food Packaging Equipment Market by Country
10.4.2 Asia Pacific Food Packaging Equipment Market By Equipment Type
10.4.3 Asia Pacific Food Packaging Equipment Market By Application
10.4.4 China
10.4.4.1 China Food Packaging Equipment Market By Equipment Type
10.4.4.2 China Food Packaging Equipment Market By Application
10.4.5 India
10.4.5.1 India Food Packaging Equipment Market By Equipment Type
10.4.5.2 India Food Packaging Equipment Market By Application
10.4.6 Japan
10.4.6.1 Japan Food Packaging Equipment Market By Equipment Type
10.4.6.2 Japan Food Packaging Equipment Market By Application
10.4.7 South Korea
10.4.7.1 South Korea Food Packaging Equipment Market By Equipment Type
10.4.7.2 South Korea Food Packaging Equipment Market By Application
10.4.8 Vietnam
10.4.8.1 Vietnam Food Packaging Equipment Market By Equipment Type
10.4.8.2 Vietnam Food Packaging Equipment Market By Application
10.4.9 Singapore
10.4.9.1 Singapore Food Packaging Equipment Market By Equipment Type
10.4.9.2 Singapore Food Packaging Equipment Market By Application
10.4.10 Australia
10.4.10.1 Australia Food Packaging Equipment Market By Equipment Type
10.4.10.2 Australia Food Packaging Equipment Market By Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Food Packaging Equipment Market By Equipment Type
10.4.11.2 Rest of Asia-Pacific Food Packaging Equipment Market By Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Food Packaging Equipment Market by Country
10.5.1.2 Middle East Food Packaging Equipment Market By Equipment Type
10.5.1.3 Middle East Food Packaging Equipment Market By Application
10.5.1.4 UAE
10.5.1.4.1 UAE Food Packaging Equipment Market By Equipment Type
10.5.1.4.2 UAE Food Packaging Equipment Market By Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Food Packaging Equipment Market By Equipment Type
10.5.1.5.2 Egypt Food Packaging Equipment Market By Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Food Packaging Equipment Market By Equipment Type
10.5.1.6.2 Saudi Arabia Food Packaging Equipment Market By Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Food Packaging Equipment Market By Equipment Type
10.5.1.7.2 Qatar Food Packaging Equipment Market By Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Food Packaging Equipment Market By Equipment Type
10.5.1.8.2 Rest of Middle East Food Packaging Equipment Market By Application
10.5.2 Africa
10.5.2.1 Africa Food Packaging Equipment Market by Country
10.5.2.2 Africa Food Packaging Equipment Market By Equipment Type
10.5.2.3 Africa Food Packaging Equipment Market By Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Food Packaging Equipment Market By Equipment Type
10.5.2.4.2 Nigeria Food Packaging Equipment Market By Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Food Packaging Equipment Market By Equipment Type
10.5.2.5.2 South Africa Food Packaging Equipment Market By Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Food Packaging Equipment Market By Equipment Type
10.5.2.6.2 Rest of Africa Food Packaging Equipment Market By Application
10.6 Latin America
10.6.1 Latin America Food Packaging Equipment Market by Country
10.6.2 Latin America Food Packaging Equipment Market By Equipment Type
10.6.3 Latin America Food Packaging Equipment Market By Application
10.6.4 Brazil
10.6.4.1 Brazil Food Packaging Equipment Market By Equipment Type
10.6.4.2 Brazil Food Packaging Equipment Market By Application
10.6.5 Argentina
10.6.5.1 Argentina Food Packaging Equipment Market By Equipment Type
10.6.5.2 Argentina Food Packaging Equipment Market By Application
10.6.6 Colombia
10.6.6.1 Colombia Food Packaging Equipment Market By Equipment Type
10.6.6.2 Colombia Food Packaging Equipment Market By Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Food Packaging Equipment Market By Equipment Type
10.6.7.2 Rest of Latin America Food Packaging Equipment Market By Application
11. Company Profile
11.1 MULTIVAC
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Krones AG
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Tetra Pak International S.A.
11.4.1 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Robert Bosch Packaging Technology
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 GEA Group Aktiengesellschaft
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Illinois Tool Works Inc.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 ARPAC LLC.
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Coesia S.p.A.
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 OPTIMA Packaging Group GmbH
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Fluid Handling Systems Market size was estimated at USD 71.7 billion in 2023 and is expected to reach USD 104.33 billion by 2031 at a CAGR of 4.8% during the forecast period of 2024-2031.
The Tool Holder Market Size Was USD 2.16 billion in 2023 and is supposed to arrive at USD 3.34 billion by 2032 and develop at a CAGR of 5.30% by 2024-2032.
The Residential Filters Market size was valued at USD 8.26 Billion in 2023 and is now anticipated to grow to USD 16.78 Billion by 2032, displaying a CAGR of 8.2% during the forecast period of 2024-2032.
The Spinning Machinery Market Size was esteemed at USD 5443.5 Million in 2023 and is supposed to arrive at USD 8422.96 Million by 2032 and develop at a CAGR of 4.97% over the forecast period 2024-2032.
The Smart Ticketing Systems Market size was valued at USD 12.1 Billion in 2023 and will Reach USD 33.08 Billion by 2031, with CAGR of 13.4% by 2024-2031.
Actuators Market size was valued at USD 62.89 Bn in 2023 and is expected to reach at USD 108.7 Bn by 2031 and grow at a CAGR of 7.08 % over the forecast period 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
