Global Automated Material Handling Equipment Market was valued US$ 29.57 Bn in 2017 and is estimated to reach US$60.11 Bn by 2026 at a CAGR of more than 9.27% during a forecast period.
Global Automated Material Handling Equipment Market
Automated Material Handling Equipment Market by Product segment is classified into Robots, ASRS, Conveyor and Sortation Systems, Cranes, AVG. By System Type Segment classified into Unit Load, Bulk Load. By Function segment classified into Storage, Transportation, Assembly, Packaging, Distribution, and Waste Handling. By Industry segment classified into Automotive, Chemicals, Aviation, Semiconductor & Electronics, E-Commerce, Food & Beverages, Healthcare, Metals, and Heavy Machinery. Geographically split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
In terms of Product, Segment Robots is a major share in the Automated Material Handling Equipment Market. Robots are used in the manufacturing industry for a various purpose that is in assembly, machine loading, material removal, order picking, packaging, and waste handling. They help to reduce cost, improve quality, minimize waste, and save space in high-value in the manufacturing industry. Implementing robots significantly increases the efficiency and productivity of manufacturing and warehouse operating companies. Also, reduce labour cost, protect personnel or employees from injuries and deliver a high return on investment. Such advantages are increasing the demand for robots in manufacturing units and warehousing facilities.
The most use of unit load material handling systems in various industries is accredited to their cost-effectiveness and ability to handle several items concurrently which decreases the number of trips, a time required for loading and unloading, and cost of handling. Unit load material handling systems involve properly sized items ordered into a single unit that can be relocated easily. It is a quick and economical method to move a large number of items in a single run. These systems help reduce the damage and handling cost and it is more efficient.
Automated Material Handling Equipment is used for holding or buffering material over a certain period or when they are not being transported at that time storage segment plays a major role. The storage equipment consists of pallets, shelves, or racks on which materials may be stacked until they are transported. In Automated Material Handling Equipment for storage include warehouse floor space utilization, increased storage speed, efficient handling of heavy items and decreases a frequency of accidents at workplace.
These firms required to carry out their manufacturing and assembly operations efficiently by handling a varied variety of components carefully and keeping track of the same. The need for persistent availability of components and spare parts, just-in-time (JIT) delivery of materials and a decrease in the cost of unproductive labour are driving the growth of the market for the automotive industry.
A growing level of order customization and personalization is caused to increase demand for Automated Material Handling Equipment. Growing start-up companies offering robotic solutions for warehouse automation. The rising popularity of Automated Material Handling equipment among leading industries. Rising labour cost and safety concerns. High integration and switching costs. It requires skillful workforce for repair and maintenance.
The Asia Pacific holds the major share in the Global Automated Material Handling Equipment Market. The availability of unskilled labor and lesser production cost are some of the prime enablers which are the major reason for the growth of the manufacturing sector in the country. The increasing awareness related to warehouse automation, increased emphasis of the leading developing economies such as China and India on robotics and automation, and growing e-commerce industry are some of the prime factors contributing to the larger size of Asia Pacific in the Automated Material Handling Equipment Market.
The report includes detailed profiles of the prominent market players that are trending in the market. Toyota Industries, Jungheinrich, KION, Daifuku, Hyster-Yale Materials Handling, Hanwha, John Bean Technologies, KUKA, BEUMER, Fives, KNAPP, Murata Machinery, SSI Schaefer, TGW, Viastore, among others.