Assembly Trays Market – Industry Analysis and Forecast (2023-2029) by Product Type, End-User and Region

Assembly Trays Market size was valued at US$ 2.70 Bn. in 2022 and the total revenue is expected to grow at 23% through 2023 to 2029, reaching nearly US$ 11.52 Bn.
Assembly Trays Market Overview:
The assembly trays market is expected to grow significantly with a CAGR of 23% during the forecast period. The market is segmented on the basis of product type, end-user and region. On the basis of product type, the market is segmented into plastic assembly tray, metal assembly tray, fibre glass assembly tray. Furthermore, on the basis of end-user the market is sub-segmented into electrical & electronics, defence and military, manufacturing, healthcare.

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Assembly Trays Market Dynamics:
Assembly trays are conveyor trays that have the capacity to provide superior material handling and stability in product transit in conveyor-based transports. Market size was valued at US$ 2.2 Bn. in 2021 and the total revenue is expected to grow at 23% through 2022 to 2029, reaching nearly US$ 11.52 Bn. These goods are noted for being lightweight and resistant to a variety of elements. These have a low-profile design that provides superior handling and stability for automobile and electrical goods for consumers.

Assembly tray sales have increased as a result of a low-profile design that allows for easy conveyor transfer. Assembly trays have increased dimensional stability and are light weight, which ensures ease of handling. These factors are estimated to drive the growth of  market globally. However, the market confronts significant limitations that could prevent the business from realizing its full potential. Features such as grease resistance and high melting point give opportunities for end users in the electronics and automotive industries, according to some of the key market trends.

The creation of static electricity in most electrical items causes them to deteriorate. It's also been discovered that roughly 33% of electrical gadgets are damaged owing to a lack of appropriate packing options. Sales of ESD assembly trays are being driven by rising demand in the electrical and electronics industries. In addition, the semiconductor and PCB industries are growing rapidly, which is a major user of assembly trays. Assembly trays are the best safe packaging solution for electrical and electronics components that are prone to ESD (Electrostatic Discharge). Electronic components such as semiconductors and printed circuit boards are typically imported by countries to manufacture these electronic products. In order to minimize the ultimate cost of the product, companies in emerging markets are focused on domestic production of key electrical components.
Assembly Trays Market Segment Analysis:
The market is segmented on the basis of product type, end-user and region. On the basis of product type, the market is segmented into plastic assembly tray, metal assembly tray, fibre glass assembly tray. Plastic assembly trays are projected to hold major market share of xx% by 2029, due to their usage in almost all industries and applications. Their ideal use is in the electrical and electronics manufacturing locations which require the in large amounts, with electrical and electronics industry gaining momentum, the market size of plastic trays is bound to growth significantly.

Furthermore, on the basis of end-user the market is sub-segmented into electrical & electronics, defense and military, manufacturing, healthcare. The electrical and electronics segment is projected to have the highest market share because of the absolute necessity of plastic trays for transporting components from one place to another. Manufacturing, Defense and Military segments are also projected to grow significantly during the forecast period.
Regional Insights:
North America region held the highest market share amongst all other regions in 2022, due to new packaging innovations and significant investment. North America region is projected to hold major market share by 2029, due to aforementioned reasons. Asia-pacific region is estimated to have the highest growth rate amongst all other regions because of increased need for trays in pharmaceutical and food and beverage sectors of the constituent countries. The market in China is projected to grow significantly due increased growth in automation and electronics industry in the region. The European market is projected to grow slowly because of the saturated markets in countries like Germany, France and Italy. ME&A region is also projected to grow significantly due to rapid expansion of electrical and electronics market in the region.

The growing demand for conveyor trolleys in the automotive and electronics industries has fueled demand for assembly trays in developing nations like India and Brazil. With the exception of China, these countries have very limited manufacturing capacity for electronic components. Companies are putting a lot of money on backward integration at their PCB manufacturing sites. In recent years, the number of manufacturers of these components has increased dramatically. As a result of the increased production of these components, the market in APAC is expected to grow. As a result, the market in these growing markets is projected to see significant expansion.

The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Assembly Trays market dynamics, structure by analyzing the market segments and project the Assembly Trays market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Assembly Trays market make the report investor’s guide.
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Global Assembly Trays Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 2.70 Bn.


Forecast Period 2023 to 2029 CAGR:
23%
Market Size in 2029:
US $ 11.52 Bn.


 Segments Covered:
by Product Type
Plastic assembly tray
Metal assembly tray
Fibre glass assembly tray


by End-User
Electrical & Electronics
Defense and Military
Manufacturing
Healthcare



By Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Assembly Trays Market Key Players
1. Molded Fiber Glass Tray Company (US)
2. K. Goodwin Co. (US)
3. Impala Plastics (Australia)
4. W. Grainger, Inc. (US)
5. Conductive Containers, Inc. (US)
6. Desco Industries Inc. (US)
7. MFG Tray (US)
8. Bardes Plastics, Inc (US)
9. Innovative Plastech (US)
10.Dordan Manufacturing Company (US)
11.Tray Pak Corporation (US)
12.Prent Corporation (US)
13.Vel Pack Industries (India)
14.Engineered Component & Packaging, LLC (US)
15.Parmar Industries (India)

Frequently Asked Questions:

1. What is the forecast period considered for the Assembly Trays market report?
Ans. The forecast period for the Assembly Trays market is 2023-2029.

2. Which key factors are hindering the growth of the Assembly Trays market?
Ans. The key factors hindering the growth of assembly trays market is the high cost of investment and stringent environmental laws.

3. What is the compound annual growth rate (CAGR) of the Assembly Trays market for the forecast period?
Ans. The compound annual growth rate (CAGR) of the Assembly Trays market for the forecast period is 23%

4. What are the key factors driving the growth of the assembly trays market?
Ans. The key factors driving the growth of assembly trays market is its extensive use in electrical and electronics industry. Moreover, expansion of PCB industry is also a key factor driving the growth of assembly trays market as it is required in huge numbers in that industry.

5. Which are the worldwide major key players covered for the Assembly Trays market report?
Ans. Some of the worldwide key players in the Assembly Trays market are Molded Fiber Glass Tray Company (US), K. Goodwin Co. (US), Impala Plastics (Australia), Parmar Industries (India), W. Grainger, Inc. (US), Conductive Containers, Inc. (US), MFG Tray (US), Bardes Plastics, Inc (US), Vel Pack Industries (India),