The global market for automated material handling systems is anticipated to grow at a CAGR of 9.2% over the course of the forecast period, according to the most recent study by FMI. The market is anticipated to be worth US$ 34 billion in 2023. The value is expected to hit US$ 81.8 billion by 2033.
The global industry for these machines is growing rapidly in part because they offer increased efficiency and lower labor costs when compared with traditional methods of transporting goods around warehouses or plant floors.
The material handling industry is expected to benefit from the growing trend toward smart factories. In order to evaluate operating efficiency and decrease waste, the entire manufacturing floor now requires monitoring at every step of the process. In such cases, smart factories with handling equipment provide continuous monitoring of all processes. Furthermore, many intuitive technologies included in material handling systems, such as cloud connectivity and data analytics, improve asset performance and give real-time actionable data.
Gain expert insights and supercharge your growth strategies. Request our market overview sample now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-14429
Wireless remote-control systems that help give better diagnostics and save commissioning time are also provided by the incorporation of such automated material systems placed in facilities. The rise of Industry 4.0 and smart factory development is creating a potential market for automated material handling systems as a result of the aforementioned considerations.
The failure or breakdown of AMH equipment can have a significant impact on a company’s overall earnings. Breakdowns cause the entire production process to be delayed, resulting in output losses and plant performance degradation. As a result, such automated material handling systems businesses must invest extensively in preventive maintenance of their AMH equipment in order to avoid downtime and assure proper operation.
The automated material handling systems market growth is predicted to rise as the e-commerce industry continues to develop. Today’s e-commerce industry is booming all over the world, creating a great need for process automation. Amazon, Walmart, and other major retailers are progressively incorporating automated technologies to carry out operations in a more efficient, precise, cost-effective, and secure manner.
Aside from that, the growth of the manufacturing industry is a big contributor to the material handling systems market expansion. Owners of facilities are concentrating on producing and delivering products to their clients at a faster, cheaper, and higher quality rate. As a result, integrating handling equipment allows for more efficient production cycles, which minimizes operational costs and waste.
SMEs are unable to fully automate their supply chains due to the high upfront expenses of implementing AMH technology. Because small businesses cannot afford automated material handling systems, they must rely on traditional/manual material handling methods. Some major businesses reduce their upfront costs by renting industrial trucks, leasing equipment, or purchasing used equipment. This is expected to hinder the sales for new equipment.
Key Takeaways From The Market Study:
- Due to factors such as the rising need for industrial processes and warehousing units, Asia Pacific dominates the worldwide automated material handling systems market.
- Due to increased penetration of online shopping trends, the presence of large online vendors, rising logistics infrastructure, and other factors, the e-commerce sub-segment is predicted to grow significantly throughout the projection period. This trend is driving warehouse operators to add automation technology into their warehouses in order to manage the supply chain ecosystem more efficiently.
- The unit load sub-segment is predicted to grow at the fastest rate, propelling the automated material handling systems market forward in the near future. This can be attributed to the e-commerce industry’s expansion.
- Due to rising consumption from the food and beverage, pharmaceutical, and e-commerce industries, the packaging sub-segment is predicted to rise gradually over the projected timeline.
Competitive Landscape
Due to the growing demand for increased efficiencies at distribution centers as a result of the expansion of e-commerce, prominent corporations are proactively working on supplying automated material handling systems for logistics solutions businesses. Furthermore, to supplement the market for handling equipment, these main companies are focusing on sales efforts. According to secondary sources, European retailers ordered Vanderlande TMHE’s AGFs to establish a fully automated distribution center in their new distribution facility.
Dominant Players in the Market
- Daifuku
- KION
- SSI Schaefer
- Toyota Industries
- Honeywell International is among the key players.
Seize this Opportunity for Detailed Market Intel: Purchase Now to Access Comprehensive Segmented Information, Identify Key Trends, Drivers, and Challenges
https://www.futuremarketinsights.com/checkout/14429
Recent Developments
KION Group will open a new forklift truck manufacturing in China in December 2021 to provide supply chain solutions. For future manufacture of industrial trucks and supply chain solutions in Jinan, the plant has a total volume of roughly 140 million.
Toyota Material Handling Japan introduced the SenS+ operation system in August 2021, which detects and identifies pedestrians and objects behind the forklift and instantly controls and stops the truck’s backward motion.
Daifuku and AFT industries collaborated in February 2021 to combine their material handling capabilities in the automotive business. Daifuku and AFT will benefit from each other as a strategy to open global markets and secure increased demand and investments in material handling systems from car manufacturers.
Key Segments
By Product:
- Robots
- ASRS
- Conveyors & Sortation Systems
- Cranes
- WMS
- AGV
By System Type:
- Unit Load Material Handling
- Bulk Load Material Handling
By Vertical:
- Automotive
- Metals & Heavy Machinery
- Food & Beverages
- Chemicals
- Healthcare
- 3PL
- Semiconductors & Electronics
- Aviation
- E-Commerce
- Others
By Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
