From the period 2022 to 2028, the Global Automated Material Handling Equipment Market is expected to reach USD 44.33 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 9.1%. Rapid industrialization, the emergence of the Fourth Industrial Revolution (Industry 4.0), and the widespread adoption of the internet of things (loT), artificial intelligence (Al), and radio frequency identification (RFID) technology are one of the primary drivers of market expansion. However apart from that, like the aerospace, agriculture, automotive, and construction industries expand, leading companies in these industries are implementing next-generation Automated Material Handling Equipment to modernize manufacturing processes, increase warehouse flexibility, and improve supply chain transparency. Furthermore, to provide novel goods, leading businesses are focusing on mergers and acquisitions (M&A), collaborations, and partnerships with other companies.
Key Highlights from the Report
- Based on system load analysis, the study is further categorized into unit and bulk load. The unit load sub-segment is predicted to develop at the fastest rate, propelling the automated material handling system market forward in the near future. It can be attributed to the e-commerce industry's expansion. It also enables the simultaneous handling of many commodities, resulting in shorter order lead times and lower operating costs. Due to the demand for transportation and sorting large quantities from the food and beverage sector, pharmaceutical industry, and others, the bulk load sub-segment is predicted to increase at a significant rate.
- Asia Pacific is the fastest regional segment as well as the Asia Pacific dominates the Global Automated Material Handling Equipment Market, owing to factors such as the increased need for industrial processes and storage facilities. Furthermore, in many locations, including South Korea, China, and Taiwan, increased manufacturing capacity and the use of material handling systems to improve production capabilities are moving the industry forward responsible for the growth of the market.
Some of the key players in the Automated Material Handling Equipment Market include - Daifuku, KION, SSI Schaefer, Toyota industries, Honeywell International, Hyster-Yale material handling, Jungheinrich, Hanwha, JBT, Kuka, Beumer, KNAPP, Murata machinery, TGW Logistics , Viastore, Addverb Technologies, Autocrib, Automation logistics, Avancon, Ferreto, Grabit, Invata intralogistics, Invia robotics, Locus robotics, and Meiden America.
The Global Automated Material Handling Equipment Market is experiencing growth in various sectors.
The surge in demand for automated storage and retrieval systems in the e-commerce business due to COVID-19-
The e-commerce industry is experiencing a boom due to the unprecedented rise in the number of online shoppers post the outbreak of COVID-19 Consumers have turned to internet purchasing in response to the COVID-19 pandemic, social distance restrictions, lockdowns, and other precautions were implemented. Business-to-consumer (B2C) and business-to-business (B2B) e-commerce have increased as a result of this. Online sales of medications, home items, and food are all seeing an upsurge in B2C sales. However, such rapid expansion in the e-commerce business has put enormous pressure on companies to acquire and deliver a large number of products in a short period of time.
The increasing level of order customization and personalization-
As online shoppers' preferences for customized and personalized product orders grow, e-commerce enterprises are finding it increasingly difficult to fulfill 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. Because of the growing popularity of customized orders, manufacturers and warehouse operators have been compelled to improve the efficiency and speed of their picking and sorting operations in order 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.