Global Cap Applicators Market: High Demand for New Cap and Closure Varieties to Push Market to New Heights

The global market for cap applicators is significantly influenced by the recent technological advancements observed in the packaging machinery market. Increasing adoption of automation capabilities in capping machines are directing the packaging industry towards a much more profitable and efficacious future. The demand for such highly effective capping machines is rising on the backdrop of the flourishing food and beverages industry, which contains a large variety of products and packages which often requires new packaging equipment.

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Transparency Market Research estimates that the global cap applicators market will be valued at US$1,133.8 mn by 2016 and rise to US$1,866.7 mn by 2024, representing an incremental opportunity of US$732.8 mn between 2016 and 2024. This translates to a healthy CAGR of 6.4% from 2016 to 2024. In terms of volume, the market is expected to expand at a CAGR of 5.5% over the said period.

Automatic Cap Applicators to Surpass Hand-held and Semi-automated Capping Equipment by Demand

Of the key varieties of capping machines available in the global market, including automatic, semi-automatic, and hand-held, the automatic variety is currently the most preferred and is expected to continue accounting for the leading share in market’s overall revenues throughout the forecast period as well. The segment is expected to account for a more than 87% of the global market by 2024, witnessing a 1.7 times increase in its revenue share in the global market from 2016 to 2024.

The segments of semi-automatic and hand-held capping machines are expected to lose a sizeable share in the market to automatic capping machines by the end of the forecast period. The vast usage of automatic capping machine in manufacturing sectors across the developed economies of Europe and North America are expected to...