Automated Material Handling Equipment Market Outlook to 2025 - Hyster-Yale Materials Handling, Hanwha Corporation, Toyota Industries Corporation, Fives, Jungheinrich AG, Kuka AG, Kion Group AG, Daifuku Co, and John Bean Technologies Corporation
Increase in the Number of Orders and Shipment is expected to Fuel the Growth of Automated Material Handling Equipment Market US$ 51,219.6 Mn by 2025
Automated Material Handling Equipment market is experiencing a high growth throughout the globe, driven by growth in automotive, e-commerce, logistics, and followed by aerospace among others. Development in the e-commerce industry with the help of automation has made all processes error-free. With an increase in the number of orders, the volume of shipment and deliveries has also increased.
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Global automated material handling equipment market is expected to grow from US$ 28,643.4 Mn in 2017 to US$ 51,219.6 Mn by 2025 at a CAGR of 7.6% between 2018 and 2025.
The key players operating in the automated material handling equipment market includes Fives, Jungheinrich AG, Kuka AG, Kion Group AG, Daifuku Co., Ltd., BEUMER Group GmbH & Co. KG, Hyster-Yale Materials Handling, Inc., Hanwha Corporation, Toyota Industries Corporation, and John Bean Technologies Corporation among others.
Owing to the fact of growth in automotive, e-commerce, logistics, and other industries such as retail, chemicals, metal & heavy machinery industry and many more are booming with an increase in the economy of countries. The growth in respective industries implement and uses automation in their facilities to make the process error-free and to have higher efficiency. Especially in manufacturing and warehouses, automation plays a vital role which helps in the growth of automated material handling equipment market.
The e-commerce industry is experiencing a huge demand due to high income of individuals and availability of wide-range of products in a single window. These factors drive the e-commerce industry which eventually grow the market of automated material handling equipment as the e-commerce requires automation in their respective facilities. Use of robots, automated guided vehicles, and automated storage systems.
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The Asia Pacific is one of the prominent regions in automated material handling equipment market which is contributing highest revenue globally due to an increase in the demand for automotive, consumer goods, and electronic devices. Moreover, rise in the labor costs in China and India pertaining to the fact of raise in the standards of living of the population. Also, due to conventional human methods, chances of errors increases which further compel the manufacturers to look ahead for sophisticated error-free solutions.
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