The report "Tension Control Market by Type (Automated & Manual), Component (Load Cell, Controller, Diameter Sensor, Dancer Roller, Brake, Clutch), Application (Paper, Flexible Printing & Packaging, Metal & Foil, Others), and Region - Global Forecast to 2022", The global tension control market is expected to grow at a CAGR of 4.65%, from 2017 to 2022, to reach a market size of USD 1,118.8 million by 2022. The increasing demand for automated tension control and the rising transition toward flexible printing & packaging from rigid packaging are driving the market across the world. The rise of pharmaceutical manufacturing in the Asia Pacific region provides opportunities for the growth of the tension control market.
The flexible printing & packaging segment of the tension control market, by application, is expected to grow at the fastest rate from 2017 to 2022. The segment is driven by the transition from rigid packaging to flexible printing & packaging in North America, Europe, and Asia Pacific. This transition is mainly due to increased competition among retailers, which, in turn, has increased the demand for high-quality labelling, printing, and packaging. All these factors are expected to offer lucrative business opportunities to the suppliers of tension control products in the flexible printing & packaging segment during the forecast period.
Browse 67 market data Tables and 25 Figures spread through 114 Pages and in-depth TOC on "Tension Control Market”
The tension control market has been segmented, by region, into North America, Europe, Asia Pacific, the Middle East, South America, and Africa. Asia Pacific is expected to grow at the fastest rate during the forecast period, followed by Europe. The growth in the market in Asia Pacific is driven by countries such as China, India, and Indonesia. The increase in packaging machinery imports and production, along with rapid growth in the food & beverages and pharmaceutical industries is the major driver for tension control in the region.
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The tension control market comprises both global and regional players. The global market is dominated by major players, including Maxcess (US), Montalvo (US), Erhardt+Leimer (Germany), FMS (Switzerland), and Re (Italy). The market growth strategies adopted by key players in the tension control market include partnerships, new product launches, and expansions. The new product launch strategy was the most commonly adopted strategy by market players from January 2014 to December 2017. Industry players also adopted partnerships, the second-most adopted strategy during the stated period.