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New York, Jan. 25, 2023 (GLOBE NEWSWIRE) — According to our new research study on Automated Material Handling Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product (Robots, Automated Storage & Retrieval System, Automated Conveyors & Sortation System, Automated Cranes, and Automated Guided Vehicles), System Type (Unit Load and Bulk Load), Component (Hardware, Software, and Services), Function (Storage, Transportation, Assembly, Packaging, Distribution, and Waste Handling), Industry (Automotive, Electronics, Food & Beverages, E-Commerce, Aerospace, Logistics, Pharmaceuticals, and Others), and Geography.
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Automated Material Handling Market – Strategic Insights
|Market Size Value in||US$ 35.65 Billion in 2022|
|Market Size Value by||US$ 56.34 Billion by 2028|
|Growth rate||CAGR of 9.1 % from 2022 to 2028.|
|Forecast Period||2022 to 2028|
|No. of Pages||232|
|Historical data available||Yes|
|Segments covered||Product, System Type, Component Function and Industry|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Purchase Options||Request customized purchase options to meet your research needs.|
Automated Material Handling Equipment Market: Competitive Landscape and Key Developments
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 are among the key automated material handling equipment market players operating in the industry.
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- In January 2023, Hy-Tek Holdings completed the acquisition of Winchester Industrial Controls LLC. The acquired company provides control systems and installation for automated material handling systems. With this acquisition, Hy-Tek Holdings enhanced its product line, which would enable the company to acquire larger customer base and ultimately would witness higher revenue in the forthcoming years.
- In December 2022, Daifuku Co., an automated material handling technology and solutions provider, announced its plans to make an investment of US$ 54.70 million in establishing a manufacturing plant in Telangana, India. The new plant will produce intra-logistics equipment, including sorting transfer vehicles, automated storage and retrieval systems, conveyors, and sorters.
In the manufacturing sector, technologies such as robotics, machine learning, and artificial intelligence have enabled machines to match or even outpace humans in a range of manufacturing activities. An increase in productivity is observed from 10 to 20% when automation is integrated into a lean assembly line. Further, Industry 4.0 is another buzzing trend that is anticipated to take up the manufacturing sector in the coming years. The advent of Industry 4.0 and the Industrial Internet of Things (IIoT) that would utilize the powers of collaborative robots and automated guided vehicles is anticipated to drive productivity in the manufacturing sector, propelling the growth of the automated material handling equipment market. In July 2022, Cargo handler Swissport announced that it is testing an unmanned, automated guided vehicle (AGV) at its new cargo center at the Frankfurt Airport to lower manual handling. The AGV communicates with gates and other automated equipment that can cover large distances and is fully compatible with the state-of-the-art material handling system at Swissport. Adoption of new equipment to ease standard of procedures are projected to fuel the overall automated material handling equipment market.
The fast-paced technological development in electronics manufacturing industry uplifts the importance of optimum utilization of resources. AMH systems are highly adopted in this industry in order to increase yield and reducing cycle times. AMH systems are employed in electronics industry to improve overall productivity, to development higher performance, and to reduce operational waste related to manufacturing & transport. Proliferating electronics industry will have a positive impact on overall automated material handling equipment market.
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The automated material handling equipment market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. APAC held the largest automated material handling equipment market share in 2022. Nations in the region have the potential to dominate the global manufacturing industry in a short period. While Japan, China, India, Singapore, and Vietnam are automotive manufacturing hubs in APAC. Countries such as Taiwan, South Korea, China, Japan, Vietnam, and Hong Kong dominate the global semiconductor & electronics manufacturing industry. Due to FDIs, the automotive manufacturing and electronics & semiconductor manufacturing industries are propelled at unprecedented rates.
Growing industrial sector in mentioned APAC countries will drive the regional automated material handling equipment market size. Moreover, several industry verticals in China are deploying collaborative robots. Xiamen Runner Industrial Corporation, one of the largest bathroom accessories manufacturers in China, has deployed 64 cobots from Universal Robots on the production line for varied tasks from tending and injecting-molding machines to the product assembly. Moreover, New Zealand-headquartered Betacom depends on UR10 cobots for the manufacturing of LED road lights. Manufacturing these lights is crucial to ensure drivers' safety on the road.
Similarly, in Europe, Atria Scandinavia (a Swedish food company), utilizes UR5 cobots to mitigate downtime in their small production plant. Developments in respect of using robots will have a positive impact on automated material handling equipment market growth.
Moreover, the product mix for consumer electronics is quite broad consisting of different assortments in many categories. Employment of AMH equipment in this industry enable easy sorting, assembling, organizing, transporting these products to the right places in given time, thus, increases the overall productivity of the operations. Short product lifecycles of the consumer electronics products, requirements of high quality standards requirements, and high investment in labor have resulted in the increasing adoptions of reliable AMH systems by electronics manufacturers worldwide.
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Based on industry, the automated material handling equipment market size is segmented into automotive, electronics, food & beverages, e-commerce, aerospace, logistics, pharmaceuticals, and others. The automotive segment held the second-largest automated material handling equipment market share in 2022. The automotive industry is one of the early adopters of automated material handling equipment in the production process. Automotive OEMs and parts manufacturers are extensively using AMH equipment to meet consumer demand and maintain product quality. Continuous surge in demand and mass production of automotive vehicles have encouraged the adoption of AMH equipment into the production process and thereby fueling the automated material handling equipment market growth. Adoption rate of AMH equipment is high in North America and Europe owing to the high labor cost and low labor availability. Also, the automotive industry in Asian countries such as Japan, Korea, and China highly depends on AMH equipment. In automotive manufacturing, AMH equipment reduces part-to-part variability, efficiently carries out highly repeatable tasks, maintains similar product quality, and minimizes the damages in the overall production process. The automotive industry is witnessing investments in technology innovation which is encouraging the automotive manufacturers to develop products accordingly and meet rising consumer demands across the manufacturing process. Investments in manufacturing, automotive, and varied industries will endure to drive the penetration of different robots, automated systems, and many more, which will further boost the automated material handling equipment market.
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