Automated Material Handling Equipment Market Revenue & Growth Forecast to 2025 - BEUMER Group GmbH & Co. KG, Daifuku Co., Ltd, Hyster-Yale Materials Handling, Fives Group
Asia Pacific automated material handling equipment market is expected to witness high growth during the forecast timespan. The increasing development of the manufacturing sector across various industries, such as automotive, metals & heavy machinery, and consumer electronics, has led to significant growth prospects. Rising government initiatives for promoting warehouse automation in countries including China and India are contributing to the larger revenue share of the industry.
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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.
The demand for unit load systems in the automated material handling equipment market is projected to grow in the coming years. They combine individual items into a single unit, enabling easy movement with pallet jacks or forklift trucks. These systems provide efficient handling, storing, and distributing in various dimensions and load weights and reduce handling costs and damage by limiting individual handling. Consumer and industrial products move through the supply chain in the unit load, which maintains their integrity when handled as a single item. Several industries are adopting these material handling systems owing to their advantages of handling several items simultaneously, reducing the number of trips and the time required for loading & unloading, reducing the overall cost of handling.
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 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.
Related News: https://www.marketwatch.com/press-release/automated-material-handling-equipment-market-trend-forecast-2019-25-by-regional-players-2019-10-16
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