Automated Material Handling Equipment Market

Market Synopsis:

The global Automated Material Handling Equipment market valued at USD 26.28 Billion in 2021 and is projected to reach a value of USD 44.33 Billion by 2028 at a CAGR of 9.1% over the forecast period. The global Automated Material Handling Equipment market is extremely fragmented, and significant competitors have utilized a variety of techniques to break into it, including new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions and others to increase their footprints in this market. It reduces or eliminates the need for human intervention throughout the product manufacturing process, further offering enhanced efficiency during the production process.

With the introduction of technology such as robots, wireless technologies, and autonomous cars in industries such as food and beverage, retail, general manufacturing, pharmaceuticals, and post and parcel, the use of Automated Material Handling Equipment has revolutionized. Furthermore, these firms are concentrating on automating and digitizing supply chains as a result of the coronavirus disease (COVID-19) epidemic, the implementation of social distancing requirements by regulatory bodies, and the increased acceptance of remote working methods. This, in turn, is expected to have a positive impact on market expansion.

Market Segmentation:

The Automated Material Handling Equipment market is segmented on the basis of product, system type and the vertical. On the basis of product, the market is segmented as Robots, ASRS, Conveyors & Sortation Systems, Cranes, WMS and AGV. Based on system type, the market is segmented as Unit Load Material Handling and Bulk Load Material Handling. Based on the vertical, the market is segmented as, Automotive, Metals & Heavy Machinery, Food & Beverages, Chemicals, Healthcare, 3PL, Semiconductors & Electronics, Aviation, E-Commerce and Others

Based on Product-

As online buyers' preferences for customized and personalized product orders grow, e-commerce enterprises are finding it increasingly difficult to fulfil complicated requests using manual methods. Moreover, customers expect the delivery of these customized orders at low prices and with the same delivery speeds as regular orders. Manufacturers and warehouse operators have been forced to enhance the efficiency and speed of their picking and sorting processes in order to keep up with the rising popularity of customized orders to achieve economic success. Additionally, because of the extra complexity, manual processing of bespoke orders increases the risk of mistakes. Robotic pickers, ASRS, AGV, automated sorters, and conveyors are examples of AMH systems that may assist handle customized orders more quickly while also lowering mistake rates. The global e-commerce business is expanding at a breakneck speed, creating a large need for process automation. This commercial rise will add value to design and develop innovative robotic solutions for material handling trucks. The emergence of the manufacturing industry is also a key contributor to market expansion.

Based on Vertical-

On the basis of Vertical, the e-commerce sub-segment is expected to grow significantly over the forecast period owing to increasing penetration of online shopping trends, presence of major online suppliers, rising logistics infrastructure, and others. This trend is driving warehouse operators to add automation technology into their warehouses in order to manage the supply chain ecosystem more efficiently. The food and beverage, aviation, semi-conductors, and automotive sub-segments are predicted to increase gradually because to rising demand for durable and non-durable items, emerging trends in precise packaging, and transportation of semi-conductors and its components.

Asia Pacific Led the Global Automated Material Handling Equipment Market

The emergence of the manufacturing industry is also a key contributor to market expansion. Due to factors such as rising demand for manufacturing processes and warehouse units, Asia Pacific dominates the global Automated Material Handling Equipment market. Expanding urbanization, rising e-commerce sales, and the considerable presence of technology providers are the key driving drivers for the Asia-Pacific regional segment's growth. As a result, these businesses invest in R&D in order to deliver innovative solutions and remain competitive in the marketplace. Asia-Pacific has risen to become one of the world's most important e-commerce centers. The area has witnessed a substantial surge in retail e-commerce due to the increasing middle-class population in China, India, and Indonesia, as well as the growing usage of mobile devices. In the Asia-Pacific region, China has been a major contributor to the growth of the Automated Material Handling Equipment market. Furthermore, rising demand for AMH goods across industries like as manufacturing, automotive, and e-commerce, among others, is favorably impacting the market's growth.