Vacuum Suction Cups Market Size Was Valued At USD 784 Millio...| MENAFN.COM

Tuesday, 27 September 2022 10:42 GMT

Vacuum Suction Cups Market Size Was Valued At USD 784 Million In 2021 And Will Achieve USD 1,331 Million By 2030 Growing At 6.4% CAGR Fueled By The Rapid Adoption In Packaging Industries


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BEIJING, Aug. 09, 2022 (GLOBE NEWSWIRE) -- The Global Vacuum Suction Cups Market Size was valued at USD 784 million in 2021 and is estimated to achieve a market size of USD 1,331 million by 2030; growing at a CAGR of 6.4%.

The vacuum suction cups industry is been driven by the growing application of pick-and-place in several end-user industries. Advancement in suction cup technology is one of the vacuum suction cup market trends that are bolstering industry growth. Vacuum suction cups are regarded as a significant system in many end-use industries as they move fragile as well as sturdy objects easily without any human intervention. As a result, the growing implementation of automation has created a buzz for vacuum suction cups in many manufacturing industries.

COVID-19 Impact on the Global Vacuum Suction Cups Market Value

The COVID-19 pandemic severely hit the vacuum suction cups industry as many of the manufacturing units were closed to curb the spread of the virus. Industries like automotive, woodworking, metalworking, semiconductors, and electronics were extensively affected by the spread of coronavirus. As a result, the adoption of vacuum suction cups was limited during this period. However, the application of vacuum suction cups in the packaging industry has created new opportunities for market in the coronavirus outbreak.

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Report Coverage:

Market Vacuum Suction Cups Market
Vacuum Suction Cups Market Size 2021 USD 784 Million
Vacuum Suction Cups Market Forecast 2030 USD 1,331 Million
Vacuum Suction Cups Market CAGR 6.4% During 2022 - 2030
Analysis Period 2018 - 2030
Base Year 2021
Forecast Data 2022 - 2030
Segments Covered By Type, By Material, By End-Use Application, By Distribution Channel And By Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled ANVER, AIRBEST (CHANGXING) TECHNOLOGY CO., LTD., Aventics GmbH, Coval, DESTACO (Dover), Piab vacuum solutions, Schmalz, Vi-Cas, SMC Corporation of America, VMECA, VUOTOTECNICA, William B. Rudow, and Yonsha Co., Limited.
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Vacuum Suction Cups Market Dynamics

Increasing adoption of vacuum suction cups in the packaging industry fuels the market demand

The packaging industry has been at the forefront since the beginning. On top of that, the packaging industry bolstered during the pandemic period owing to the rising number of online deliveries. The increasing popularity of smart labels and the growing focus on minimizing human intervention are fueling the packaging vacuum suction cups market. In addition, the rising implementations of automated processes in packaging as well as the elevated need for packaging machinery that performs multiple functions such as handling, labeling, and wrapping products are some factors that are also supporting the industry growth. Furthermore, an increasing number of applications from food & beverages and pharmaceutical packaging are expected to generate numerous growth opportunities for the market in the coming future.

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Growing demand from the automotive industry will spur market growth in the coming future

The automotive industry's production lines are highly automated. Vacuum products provide high efficiency with dependable handling, save energy, and so on. First, it aids in the movement of small, medium, and large parts from one location to another. A vacuum suction cup can hold the product's surface and move it from one location to another. This improves the flow of production while also expanding the production line. This also contributes to energy and cost savings. Furthermore, the use of vacuum suction cups in the automotive industry will increase production profit and business ROI.

Vacuum Suction Cups Market Segmentation

The global market has been segmented into five categories: type, material, end-use application, distribution channel, and region.

The type segment is categorized into the flat vacuum, oval vacuum, bellows vacuum, and other types. Based on our vacuum suction cups market forecast, the flat vacuum sub-segment will occupy a significant market share in 2021 and is likely to continue its trend in the coming years. On the other hand, the bellows vacuum sub-segment will achieve a noteworthy CAGR throughout the forecasted years.

Silicone, nitrile rubber (NBR), polyurethane, PVC, and others are the materials incorporated in the material segment. Among all the materials, nitrile rubber (NBR) is considered the most popular choice of material for vacuum suction cup manufacturing owing to its usage in applications such as glass handling, wood handling, and sheet metal handling.

By application, the market is split into packaging, food & beverage, woodworking, metalworking, automotive, semiconductor and electronics, and others. According to our vacuum suction cups industry analysis, the packaging application subjugated a significant market share in 2021, whereas the automotive and food & beverage applications will acquire an impressive growth rate from 2022 to 2030.

Furthermore, the distribution channel segment is bifurcated into offline and online channels. The offline distribution channel sub-segment is expected to acquire a considerable market share in 2021. On the other hand, the online distribution channel sub-segment is likely to attain the fastest growth rate (CAGR) during the projected years from 2022 to 2030.

Vacuum Suction Cups Market Regional Outlook

The global vacuum suction cups market is divided into five regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Among all the regions, Asia-Pacific is observed to register the fastest growth rate from 2022 to 2030. The growing automation in the packaging and manufacturing sectors along with the rising number of applications of various industries such as pharmaceuticals and FMCGs in the region are driving the Asia-Pacific vacuum suction cups market. In addition, growing opportunities from emerging economies such as China and India are significantly supporting the Asia market.

Europe and North America are the two leading regions in the global vacuum suction cups market. The strong presence of manufacturers, the growing rate of automation, and greater access to advanced technologies in both regions are driving up the industry demand in the coming future.

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Vacuum Suction Cups Market Players

Some prominent vacuum suction cups companies covered in the industry include ANVER, AIRBEST (CHANGXING) TECHNOLOGY CO., LTD. Aventics GmbH, Coval, DESTACO (Dover), Piab vacuum solutions, Schmalz, Vi-Cas, SMC Corporation of America, VMECA, VUOTOTECNICA, William B. Rudow, and Yonsha Co., Limited.

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