Press release
How Automated Material Handling Equipment Market Growing Rapidly? BEUMER Group GmbH & Co. KG, Daifuku Co., Ltd, Hyster-Yale Materials Handling
Automated Material Handling Equipment Market
High operational and maintenance costs associated with these systems are expected to hinder the automated material handling equipment market growth. The use of automation in the manufacturing process requires ensuring smooth operations, resulting in higher operational costs. The rising trend of renting equipment due to increasing capital cost can impact the overall growth of the market. Moreover, governmental norms related to workplace safety associated with the usage of products may hinder market growth.
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The implementation of advanced technologies, such as Automated Guided Vehicles (AGV), in distribution centers enables industries to process high volumes of repetitive movements of material, resulting in higher throughput. Such systems allow vehicles to make routing decisions based on the real-time feedback of environment conditions along with the ease of navigational adjustments. In addition, the use of ultrasonic sensors, visual indicators, and emergency stop buttons provides optimum safety in the environment.
The incorporation of advanced technologies, such as machine learning, AI, IoT, and robotics, into these systems is a major factor driving the growth of the automated material handling equipment market. The systems provide smooth & real-time order picking in manufacturing processes and help businesses to speed up their material handling processes.
Moreover, manufacturers in the region are expanding their production capabilities to avoid dependency on other countries for importing machine parts. Such factors are driving the development of manufacturing industries in the region, accelerating automated material handling equipment market growth.
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The key players in the automated material handling equipment market share include BEUMER Group GmbH & Co. KG, Daifuku Co., Ltd, Hyster-Yale Materials Handling, Inc., Fives Group, KUKA AG, KNAPP Group, Kion Group AG, Murata Machinery, Schaefer Systems International, Inc., TGW Logistics Group, and Intelligrated, Inc.
These players are adopting various strategies to enhance product capability and expand their manufacturing facility to achieve economies of scale. For instance, in June 2017, Hyster-Yale Materials Handling, Inc., acquired Zhejiang Maximal Forklift Company Limited, a manufacturer and distributor of forklift products. The acquisition aided the company in expanding its manufacturing capabilities, developing access to competitive component, and strengthen the product portfolio to offer enhanced solutions to its customers.
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