According to the latest report by IMARC Group, titled “Automated Material Handling Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global automated material handling equipment market size reached US$ 37.2 Billion in 2022. Automated material handling equipment refer to the devices or technologies that are computerized and use robots instead of any human labor. They are used to pull, lift, push, store and retrieve materials and products. These devices perform tasks with higher accuracy and precision and help reduce human intervention and operational costs, thus resulting in improved logistics management. They provide increased throughput and ensure safety in manufacturing, warehousing, distribution, consumption, and disposal of products and materials. Additionally, they also help in forecasting, production planning, resource allocation, inventory control, after-sales support and services, and flow and process management. As a result, these pieces of equipment are extensively utilized in a wide range of end-use industries for smooth and real-time order picking, effective inventory usage and shortened delivery time.
Global Automated Material Handling Equipment Market Trends:
The global market is majorly driven by the rapid utilization of these devices in diverse packaging applications. This can be attributed to considerable growth in the e-commerce industry. In addition to the significant increase in the production and consumption of electronics, the demand for warehouse automation to reduce handling costs is also growing, which is propelling the market. With the rising number of logistics and shipments, e-commerce industry players are focusing on improving the quality of their services through sustainable development methods, thereby providing an impetus to the market. Moreover, the incorporation of advanced technologies, such as machine learning (ML), the internet of things (IoT), artificial intelligence (AI) and radio frequency identification (RFID) technologies, into material handling systems is creating a positive market outlook. Also, key players are adopting various strategies, such as mergers and acquisitions (M&A), collaborations and partnerships with other companies, to enhance their geographical presence. Furthermore, the introduction of innovative products like Automated Guided Vehicles (AGV) in distribution centers, along with widespread digitization in manufacturing processes, is also acting as a significant growth-inducing factor for the market. Some of the other factors contributing to the market include rapid urbanization, the advent of Industry 4.0, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 56.1 Billion by 2028, exhibiting a CAGR of 7.2% during 2023-2028.
- Based on the component, the market has been segmented into hardware, software, and services.
- On the basis of the product, the market has been divided into conveyors and sorting systems, automated storage and retrieval systems, robots, automated guided vehicles, and others.
- Based on the function, the market has been categorized into assembling, packaging, storage, transportation, distribution, and others.
- On the basis of the system type, the market has been classified into unit load and bulk load.
- Based on the function, the market has been divided into automotive, chemicals, aviation, semiconductor and electronics, e-commerce, food and beverages, healthcare, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 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.
|Base Year of the Analysis
||Component, Product, Function, System Type, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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