Report : Parcel Sortation System Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Pop-Up Sorters, Shoe Sorters, Cross Belt Sorters, Tilt Tray Sorters, Pushtray, and Others) and Application (Logistics Industry, E-Commerce Industry, Food & Beverages Industry, Post and Parcel Services, Airports, Pharmaceutical Industry, and Others)
According to the new research report on "Parcel Sortation System Market Forecast to 2030 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 4.07 billion by 2030 and register a CAGR of 28.9% from 2023 to 2030.
Asia Pacific region consists of many developing countries which are witnessing a high growth in their manufacturing sector. China has been evolving into a high-skilled manufacturing hub; however, other developing countries such as India, South Korea, Taiwan, and Vietnam are also attracting FDI companies that have been planning to relocate their low to medium skilled manufacturing facilities to neighboring countries that are offering low labor cost and high skilled labor forces. Further, the governments of such countries are making developments to improve their respective investment ideas. Although, challenges including lack of skilled labor, low productivity, and developed infrastructure scarcity are few of the restraints that are required to be addressed to strengthen their position as a key manufacturing hub in the Asia Pacific region, which fuel the adoption of robots and foster the parcel sortation system market growth.
The governments of these developing economies are offering funds, tax-rebates, subsidies and other such support to attract the manufacturing companies to set-up their plants in the respective countries. Further, several governments have taken several initiatives such as Made in China 2025 and Make in India that are catalyzing the growth of . However, China, which is the largest manufacturing hub, is experiencing a rise in the country’s labor cost owing to the ageing population of the country. This has resulted in manufacturing companies seeking investments in Southeast Asian countries. The improving infrastructure, rising domestic consumption and lower costs are some of the factors attracting manufacturing companies in these countries.
Also, China is the largest producer of passenger cars in the world which foster the parcel sortation system market size. Japan, India, and South Korea are some of the other major vehicle manufacturing countries in the region. Apart from the automotive industry, there are several other industries in China that are deploying collaborative robots, for instance at Xiamen Runner Industrial Corporation, which is one of the largest bathroom accessories manufacturers, in China, 64 robots from Universal Robots were deployed on the production line, for varied tasks including tending and injecting-molding machines to the product assembly. More such projects in the region would further propel the parcel sortation system market growth in the region. Also, the shipbuilding industry of Asia Pacific is one the major manufacturing industries. Countries including South Korea, China, and Japan are the major manufactures globally fueling the parcel sortation system market size.
Key Findings of Study:
Global parcel sortation system market is segmented by end-user industry into automotive, metal & machinery, electronics, pharmaceuticals, food & beverages, logistics, and others. The automotive segment held the largest parcel sortation system market share. The automotive industry is one of the early adopters of collaborative robots in their production process. Automotive OEMs and parts manufacturers are readily using robotics to help them achieve the demand and maintain product quality. The gratification of human errors in an assembly line is minimized by adopting robotics to replace the human touch. Mass production of automotive vehicles has further encouraged the adoption of robotics into the production process. Regions such as North America and Europe, where labor cost is high, and availability is low, highly depend upon robotics in vehicle manufacturing drives the parcel sortation system market. Even the automotive industry in Asian countries such as Japan, Korea, and China heavily depends on robotics in the automotive industry fostering the parcel sortation system market growth.
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