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The global automated material handling equipment market grew at a CAGR of around 8% during 2015-2020. Material handling involves a wide range of activities, including movement, protection, storage and control, which are performed during manufacturing, warehousing, distribution, consumption and disposal of products and materials. It is nowadays commonly conducted using automated material handling equipment to reduce human intervention and improve logistics management. It also helps in forecasting, production planning, resource allocation, inventory control, flow and process management, and after-sales support and services. Consequently, several organizations are relying on automated handling equipment to improve customer service, reduce inventory, shorten delivery time and lower overall handling costs.
Rapid industrialization, the emergence of the Fourth Industrial Revolution (Industry 4.0) and the widespread adoption of the internet of things (IoT), artificial intelligence (AI) and radio frequency identification (RFID) technologies are among the major factors spurring the market growth. Apart from this, due to the substantial rise in the aerospace, agriculture, automotive and construction industries, leading companies in these sectors are utilizing next-generation automated material handling equipment to modernize manufacturing processes, increase flexibility in warehouse operations and enhance transparency in the supply chain. Moreover, key players are emphasizing on mergers and acquisitions (M&A), collaborations and partnerships with other companies to introduce innovative products. Furthermore, on account of the coronavirus disease (COVID-19) outbreak, implementation of social distancing rules by governing agencies and the rising adoption of remote working models, these players are also focusing on automating and digitizing the supply chains. This, in turn, is expected to provide a positive impact on the market growth. Looking forward, IMARC Group expects the global automated material handling equipment market to continue its moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global automated material handling equipment market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, component, product, function, system type and end use industry.
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The report has also analysed the competitive landscape of the market with some of the key players being BEUMER Group GmbH & Co. KG, Daifuku Co. Ltd., Honeywell International Inc., JBT Corporation, Kion Group AG, KNAPP AG, KUKA Aktiengesellschaft (Midea Group Co. Ltd.), Murata Machinery Ltd., TGW Logistics Group GmbH, Toyota Industries Corporation and Viastore Systems GmbH.
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