The demand for improved production efficiencies, product orientation and minimal product damage of the packaged products has initiated a high demand of the accumulators in the packaging industry. Accumulator equipment is necessary to ensure that no line stoppages in the production operations occurs. In case of product line blockage occurs, accumulators provide temporary storage for the entire batch of products. Thus synchronizing different manufacturing operations and increasing efficiency, by facilitating a continuous flow of products from machine to machine. Nowadays, accumulators are being designed in a way such that they can be easily integrated into any existing packaging and production set-up and also handle various sized products. Different models of accumulators are designed to work with different package capacity. Owing to rapid changes in product design and increasing demand for variable capacity accumulators in the food & beverage, personal goods, and cosmetic industry is expected to contribute to an extensive growth in the market.
Accumulator Market: Market Dynamics, Segmentation,Regional Outlook and Players
The increase in the demand for custom designed accumulators for various packages contribute hugely to the market growth of accumulators globally. Automated packaging systems demand advanced technologies for their production processes. Owing to rapid changes in product design and increasing demand for variable capacity accumulators in the food & beverage, personal goods, and cosmetic industry is expected to contribute to an extensive growth in the accumulator market.
The revenue contribution from food & beverage and cosmetic products is significant to global accumulator market. This trends is expected to continue over the forecast period owing to the thriving growth of the food and beverage industry. Likewise, modest demand of accumulators for the manufacture of industrial goods and pharmaceuticals, is expected to boost the sales of accumulators. However, the presence of integrated manufacturing machine incorporating multiple packaging functions and capital intensive nature of equipment is expect to restrict the accumulator market
The accumulators market can be segmented on the basis of type and application. The accumulators are available in five forms. Vertical, Horizontal, Serpentine, Bi-flow and Rotary. Based on the application the accumulators market can be segmented into food and beverage, pharmaceuticals, health care and personal care products, industrial goods and other consumer products.
The accumulators market can be segmented on the basis of regions. North America, Latin America, Western Europe, Eastern Europe, APEJ (Asia Pacific excluding Japan), Japan, Middle East and Africa (MEA). Asia Pacific revenue contribution to the global accumulator market is expected be the maximum owing to the thriving consumer goods and food and beverage industries in major markets such as India and China. Followed by Asia Pacific, Europe and North America are anticipated to have moderate growth in the accumulators market owing to modest growth in the packaging and other industries. Latin America and Middle East and Africa are expected to create significant opportunities for accumulator manufactures as a result of the proliferating demand from food and beverage industry from the regions.
The accumulators market is highly fragmented. However the market has the presence of regional players too. The significant players identified in accumulators market are TetraPak, Nercon, Packaging Dynamics Ltd., Reelex, Del Packaging Ltd., Brenton, Hartness among many others.
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