Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Dunnage trays are used for shipping, handling and processing of various parts or products. These trays find their use in various industries such as automotive industry, electronics industry, healthcare industry, retail food & beverage industry, shipping & logistics industry, cosmetics industry and other industries. Further, the dunnage trays market is witnessing the launch of various innovative and attractive products.
Global dunnage trays market is anticipated to flourish at a significant CAGR of 4.8% over the forecast period. Wide scale application in various end use industries coupled with positive growth outlook of these industries is impelling the demand for dunnage trays. Moreover, the market is witnessing the launch of reusable, light weight and low cost dunnage trays which further is likely to supplement the growth of the dunnage trays market in the years ahead.
Asia Pacific accounted for the largest percentage of market share in overall dunnage trays market and is expected to be the fastest growing dunnage trays market in the world. Growing affluent middle class population is increasing the demand and sale of automotive vehicles, thereby intensifying growth opportunities in automotive end use sector. Furthermore, growing food & beverage industry in the region is expected to intensify the demand for dunnage trays market in the Asia Pacific. Further, China, South Korea and India are anticipated to major contributor to the growth of the Asia Pacific dunnage trays market during the forecast period. Europe is expected to showcase significant compound annual growth rate during the forecast period. Growing utilization of dunnage trays in automotive industry is likely to sustain the growth of the Europe dunnage trays market.
North America dunnage trays market is expected to grow at a substantial rate over the forecast period. North America market is backed by growing healthcare and shipping & logistics industry. Further, new material innovations are anticipated to accelerate the growth of dunnage trays market in North America. U.S. is the prominent market in the region.
Based on material type, global dunnage trays market is segmented into automotive industry, electronics industry, healthcare industry, retail, food & beverage industry, shipping & logistics industry, cosmetics industry and other industries, out of which, automotive industry dominated the overall dunnage trays market. This can be attributed to the growing automotive market across the globe.CLICK TO DOWNLOAD FREE SAMPLE
Our in-depth analysis has segmented global dunnage trays market into the following segments:
Global dunnage trays market is further classified on the basis of region as follows:
The market stands to benefit from continuous innovation and advancements related to material strength and other properties of dunnage trays. Several major dunnage trays manufacturers are focusing on the development of lightweight, more durable and low cost dunnage trays. This factor is envisioned to bolster the growth of the global dunnage trays market.
Rising demand from various end use industries is driving the growth of the global dunnage trays market. Further, positive growth of end use industries is anticipated to boost the demand for dunnage trays in the long run. For instance, increasing production of motor vehicles across the globe is anticipated to benefit the growth of dunnage trays market. Further, global automotive industry is booming on the account of urbanization and increasing disposable income. This massive growth of automotive industry is expected to supplement the growth of dunnage trays market. According to OICA, 94.7 million motor vehicle produced was held to be in 2016. Moreover, this represented a Y-o-Y growth of 5.0% as compared to 2015. Moreover, automotive production is anticipated to increase on the account of rising demand. This factor signals promising growth of the dunnage trays market.
In contrast, availability of alternatives such as molded fiber pulp tray is anticipated to limit the growth of the global dunnage trays market during the forecast period.
Overview of the Parent Market
Analyst View
Segmentation
The global dunnage trays market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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