Automated Material Handling Equipment Market by Product Robots, ASRS, Conveyor and Sortation Systems, Cranes, AGV

The automated material handling (AMH) equipment market is estimated to be valued at USD 33.46 billion in 2018 and is expected to reach USD 53.59 billion by 2024, at a CAGR of 8.2% during 2018-2024. AMH involves managing material processing with the use of automated systems, such as robots, automated storage and retrieval systems (ASRS), conveyors and sortation systems, cranes, and automated guided vehicles (AGV). The AMH equipment is used to move, store, and control the goods by eliminating the need for manual operations.

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Among the major products deployed for automating the material handling process, the AMH equipment market for robots is expected to grow at the highest CAGR during the forecast period. Robots are used in assembly, machine loading, material removal, order picking, packaging, and waste handling in the manufacturing industries. They help reduce cost, improve quality, minimize waste, and save space in high-value manufacturing areas. Implementing robots greatly increases the efficiency and productivity of manufacturing and warehousing companies. Moreover, the use of robots can reduce labor cost, protect personnel or employees from injuries, and provide a high return on investment.

The AMH equipment market for unit load material handling systems is expected to grow at a higher CAGR from 2018 to 2024. The unit load material handling systems involve appropriately sized items organized into a single unit that can be moved easily. These systems provide quick and economical means to move a large number of items in a single run. These systems help reduce the damage and handling cost, and make handling, storage, and distribution more efficient.

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The market for packaging is expected to grow at the highest CAGR from 2018 to 2024. The role of packaging has become significant in the industries such as e-commerce, food & beverages, chemicals, and pharmaceuticals. The primary purpose of packaging is to provide protection to the item or product as it is handled numerous times during the order fulfillment process. The use of AMH equipment in the packaging process enhances the quality of packaging. The equipment is capable of working with various packaging designs and multiple pack sizes for different products as well.

The market for e-commerce industry is expected to grow at the highest CAGR during the forecast period. Rapidly changing customer demands, increasing preference for online shopping, growing demand for shorter delivery times, and fierce competition among online retailing companies have raised the demand for automated fulfillment centers. With the increasing adoption of AMH equipment, the online and multichannel retailers can meet the increasing consumer demand to shop anywhere and at any time with fast, accurate shipments, and outstanding customer service.

APAC is expected to be the fastest-growing market for AMH equipment from 2018 to 2024. Huge domestic demand for products and services, and significant business growth opportunities have led to the establishment of the manufacturing and warehousing units of various industries, such as automotive, metals and heavy machinery, and semiconductor & electronics, in the region. Increased emphasis on the leading economies such as China and Japan on robotics and automation, and growing e-commerce industry are some of the primary factors contributing to the high share of APAC in the AMH equipment market.

Mr. Sanjay Gupta
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This release was published on openPR.