The global automated material handling systems market is expected to be valued at US$ 34 billion in 2023. The market is expected to register a CAGR of 9.2% between 2023 and 2033. By 2033, the valuation is expected to cross US$ 81.8 billion.
The automated material handling systems are an important component of the E-Commerce market. The material handling systems assist in transportation and handling the load. Based on the market research, the E-Commerce market was valued at US$ 21 trillion in 2022, and is expected to grow at 19%. These figures present a huge opportunity in front of the market.
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The manufacturers are also making use of the latest technology in order to upgrade the existing systems. The introduction of Artificial Intelligence in the system is expected to surge the efficiency. Moreover, application of robots is expected to increase the output going further.
The usage of material handling systems also ensures that there are low levels of contamination. This helps the organization comply with the different standards set by the regulatory authorities.
The rapidly growing semiconductor market is also expected to surge the market growth during the forecast period. The material handling systems play a pivotal role in the assembly of electronic chips. The world is also witnessing the rise of industry 4.0, which is all about automation. This represents a plethora of prospects in front of the market.
However, high cost of the equipment, availability of affordable alternatives is expected to plague the market growth.
Key Takeaways:
- In 2023, the market value is expected to be at US$ 34 billion.
- By 2033, the valuation is expected to surge beyond US$ 81.8 billion.
- The market is expected to record a CAGR of 9.2% during the forecast period.
- On the basis of regional analysis, Asia Pacific is expected to be the dominant market.
- The United States market is expected to advance at 9%.
- The United Kingdom market is anticipated to surge at 8.2%.
- China market is projected to grow at 8.6%.
- Japan market is expected to register a CAGR of 7.7%.
- South Korea market is anticipated to record a CAGR of 6.9%
- Based on the product, WMS is expected to be the dominant segment, and is projected to grow at 8.9%.
- Based on the system type, unit load is expected to be the significant segment, and is expected to surge at 8.6%.
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Competitive Landscape
The key players operating in the automated material handling systems market are investing heavily in mergers and acquisitions. The motive is to increase the market share and be the market leader. The idea is also to form strategic collaborations with players from other niches in order to make use of their resources.
The manufacturers are also bringing in leaders with diverse experience who have been serving the market for decades. With a view to controlling carbon emissions, the key players are also adopting strategies to achieve sustainable goals.
Significant Developments in the Market:
- In May 2022, Daifuku was recognized as the number 1 supplier by modern materials handling.
- In January 2023, Kion Group decided to develop and produce its own fuel cell systems for industrial trucks.
