Jul 22, 2019 (Market Research Analyst via COMTEX) — The Global Automated Material Handling Equipment Marketaccounted US$ 28.64 Bn in 2017 and is expected to grow at a CAGR of 7.6% during the forecast period 2018 – 2025, to account to US$ 51.22 Bn by 2025.
Automated material handling equipment is used for storage, control, protection, and movement of goods. These tools are very convenient to use throughout the process of distribution, manufacturing, consumption and finally disposal. The automated material handling equipment simplifies the process and are used in modern day to day industries. The emergence of online shopping and e-commerce is resulting in bolstering the automated material handling equipment market growth as well as the increasing adoption of automated solutions in manufacturing industries, particularly in the developing economies. Handling of goods for industry verticals such as metals & heavy machinery, aviation sector, and automotive sector for a human could be very challenging and puts the workforce to higher health safety risks. The need to create a safer workplace for the labor, and allow for machines to replace the traditional material handling techniques, the automated material handling equipment market demand is anticipated to pace up at higher rates during the forecast period. However, the high cost associated with the installation of this equipment along with the overall maintenance cost is hindering the automated material handling equipment market growth.
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A number of industrial facilities and warehouses are increasing the use of automated solutions to enhance their profits, warehouse operations, comfort as well as worker safety. Industries such as automotive, metals & heavy machinery, food & beverages, and others are concerned about reducing labor-intensive processes, increasing accuracy and speed for material handling. The advent of Industry 4.0 or the Industrial Internet of Things (IIoT) that would utilize the powers of collaborative robots, and automated guided vehicles is further anticipated to drive productivity in the manufacturing sector thereby propelling the growth of automated material handling equipment market.
The top companies operating in the field of automated material handling equipment include:Daifuku Co. Ltd., Hyster-Yale Material Handling, Inc., Jungheinrich AG, Kion Group AG, Toyota Industries Corporation, Hanwha Corporation, John Bean Technologies Corporation, Kuka AG, Beumer Group Gmbh & Co., and Fives Group among others.
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In our study, we have segmented the automated material handling equipment market by product into robots, automated storage & retrieval system, automated conveyors & sortation system, automated cranes, and automated guided vehicles. On the basis of system type, the automated material handling equipment market is segmented by unit load material handling system and bulk load material handling system. Based on the component, the automated material handling equipment market is sub-divided into hardware, software, and services. By function, the automated material handling equipment market is segmented into storage, transportation, assembly, packaging, distribution, and waste handling. The industries analyzed in the study are automotive, electronics, food & beverage, e-commerce, aerospace, logistics, pharmaceuticals, and others. On the basis of geography, the automated material handling equipment market is segmented into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
Various other companies operating in the market and are coming up with new technologies and offerings which is helping the market for automated material handling equipment to expand over the years in terms of revenue.
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