Automated Material Handling Equipment Market Application, Status and Future Forecast
Added: (Fri Jun 23 2023)
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Automated Material Handling Equipment Market
The Automated Material Handling Equipment Market refers to the industry involved in the production, sale, and implementation of machinery and systems designed to automate the movement, storage, and control of materials within a manufacturing or distribution facility. This market encompasses a wide range of equipment and technologies, including conveyors, robots, automated guided vehicles (AGVs), sortation systems, automated storage and retrieval systems (AS/RS), and other related solutions.
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Automated material handling equipment is used in various industries, including automotive, e-commerce, food and beverage, pharmaceuticals, logistics, and more. The primary goal of these systems is to improve efficiency, increase productivity, reduce labor costs, enhance safety, and optimize overall operations within a facility.
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.
Market Analysis and Size
Automated material handling equipment have taken a crucial role in numerous manufacturing industries throughout the globe. Industries are continuously emphasizing their ‘all under one roof’ policy while enhancing production capacity. These material handling equipment are ideal for distribution, and storage, waste handling.
Global Automated Material Handling Equipment Market was valued at USD 28.20 billion in 2021 and is expected to reach USD 56.81 billion by 2030, registering a CAGR of 10.09% during the forecast period of 2022-2030. Unit Load Material Handling Systems is expected to witness significant growth in the system type segments of the market owing to the surge in demand for automated material handling equipment in the e-commerce industry. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Automated Material Handling Equipment Market segmentation
By Product Type
Automated guided vehicle
Automated storage and retrieval system
Automated crane
Robotic system
Automatic conveyor and sortation system
By System Type
Unit load material handling system
Bulk load material handling system
By Component
Hardware
Software
Services
By Application
Assembly
Packaging
Transportation
Distribution
Storage
Waste Handling
By Industry Vertical
Automotive
Chemical, rubber & plastic
Aviation
Semiconductors & electronics
E-commerce
Food & Beverages
Healthcare
Others(energy, metal, and heavy machinery)
Competitive Landscape:
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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