Automated Material Handling Equipment Market by Product (Robots, ASRS, Automated Conveyors and Sortation Systems, Automated Cranes, AGV), System Type (Unit Load, Bulk Load), Software & Services, Function, Industry, and Region - Global Forecast to 2023
“Automated material handling equipment market to exhibit a high growth potential between 2017 and 2023”
The automated material handling equipment market is expected to grow at a CAGR of 7.8% between 2017 and 2023 and is likely to be valued at USD 48.31 billion by 2023. The key driving factors for the growth of the automated material handling equipment market are the increasing emphasis on safety and security of workers, growing e-commerce industry, declining cost of labor through advancement in robotics, and the shift from manual to the automated solution in numerous industries. However, the major restraining factors for the growth of this market are the high cost of equipment and maintenance as well as the availability of AGV on lease.
“The automated material handling equipment market for AGV expected to grow at the highest rate during the forecast period”
The automated material handling equipment market for AGV is expected to grow at a high CAGR between 2017 and 2023. The AGV helps to reduce the time gap between the inventory storage, transportation, and temporary storage of goods. Further, AGV help simplify hazardous tasks involved in an industrial environment and enable increased safety and productivity in the workplace.
“Automotive industry to hold the largest share of the overall automated material handling equipment market between 2017 and 2023”
The automotive industry is expected to hold the largest size of the automated material handling equipment market during the forecast period. Automation plays a vital role in the automotive industry as it improves the production processes and ensures timely delivery of materials. Moreover, the increased automated material handling equipment installations have helped several automotive companies to overcome the shortage of skilled labor and cost associated with their retention.
“APAC to be the fastest-growing market for automated material handling equipment between 2017 and 2023”
The automated material handling equipment market in APAC is expected to grow at a high rate between 2017 and 2023. The increasing emphasis by government on worker’s safety in a hazardous environment is leading to the implementation of automated material handling equipment. In countries such as China and Japan, the automated material handling equipment market is witnessing a high growth rate owing to the increasing investments by manufacturers and suppliers for installing automated material handling equipment at the warehouses and distribution centers. Further, the presence of leading players in the region is also contributing to the growth of the market.
The break-up of the profiles of primary participants for the report has been given below.
• By Company Type: Tier 1 = 45%, Tier 2 = 35%, and Tier 3 = 20%
• By Designation: C–Level Executives = 55%, Directors = 35%, and Others = 10%
• By Region: North America = 30%, Europe = 25%, APAC = 40%, and RoW = 5%
The key players operating in the automated material handling equipment market include Daifuku Co., Ltd. (Japan), Hyster-Yale Material Handling, Inc. (US), Jungheinrich AG (Germany), KION Group AG (Germany), Toyota Industries Corporation (Japan), Hanwha Corporation (South Korea), John Bean Technologies Corporation (US), KUKA AG (Germany), BEUMER Group GmbH & Co. KG (Germany), Fives (France), Knapp AG (Austria), Murata Machinery, Ltd.(Japan), SSI Schafer Group (Germany), TGW Logistics Group GmbH (Austria), and Viastore Systems GmbH (Germany).
The research report on the automated material handling equipment market covers different segments—product, system type, function, industry, and region. The report also includes software and services used in the automated material handling equipment market. The market has been segmented on the basis of product into robots, ASRS, automated conveyors and sortation systems, automated cranes, and AGV. On the basis of system type, the automated material handling equipment market has been classified into unit load material handling and bulk load material handling. On the basis of function, the automated material handling equipment market has been classified into storage, transportation, assembly, packaging, distribution, and waste handling. The market has been segmented on the basis of industry into automotive, metals and heavy machinery, food & beverages, chemicals, semiconductor and electronics, healthcare, aviation, e-commerce, and others (paper and printing, and textile and clothing). The report covers the market in four major geographic regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market-based product, system type, function, industry, and region have been conducted to give an overall view of the automated material handling equipment market.
The value chain has been analyzed to provide an in-depth insight into the automated material handling equipment market.
The major drivers, restraints, opportunities, and challenges for the automated material handling equipment market have been detailed in this report.
The report includes a detailed competitive landscape, along with in-depth analysis and revenue of key players.
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