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Automated Material Handling Equipment Market is calculated to grow at 8.9% CAGR during 2022-2029, reaching USD 54.4 billion | Share, Size & Forecast
Automated Material Handling Equipment Market
Automated Material Handling Equipment Market was valued at USD 27.5 billion in 2021 and projected to reach USD 54.4 billion in 2029, growing at a CAGR of 8.9%.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/automated-material-handling-equipment-market-analysis-industry-research/
The factors driving growth of the Automated Material Handling Equipment Market includes growing demand for Automated Storage and Retrieval System (ASRS) in the e-commerce industry and rising focus by manufacturers and warehouse operators on enhancing the efficiency and speed of picking orders. According to the report published by Statista, the Global Automated Storage and Retrieval System (ASRS) Market was calculated around USD 7,351 million in 2019 and is expected to reach USD 12,928 million by the end of 2027, expanding at a CAGR of 7.2% over the forecast period (2020-2027), which will accelerate the Automated Material Handling Equipment Market size in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Radio Frequency Identification (RFID), strategic mergers and acquisitions between key industry leaders and rising emphasis on digitalizing the supply chains, are further propelling the market growth. In addition, increasing application of automated material handling equipment to improve customer service, shorten delivery time and reduce overall handling cost along with rising investments by leading players on research and development, are some of the additional factors contributing towards the market growth.
However, growth of the Automated Material Handling Equipment Market is hindered due to high upfront cost of automated material handling equipment.
The leading players operating in the market are John Bean Technologies Corporation, Kion Group AG, Honeywell International, Inc., Toyota Industries Corporation, Hytrol Coveyor Company, Kuka AG, BEUMER Group, Murata Machinery Ltd, Cargotec, SSI Schaefre AG and Intelligrated Systems Inc., among others.
Based on Type, the Conveyors & Sortation Systems segment is predicted to capture the largest market share during the forecast period
Growing demand for conveyors and sortation systems in the food and beverage industry and increasing focus by manufacturers on enhancing the production capacity, are some of the factors responsible for the segment's growth.
Based on System, the Bulk Load segment is projected to dominate the market over the forecast period
Increasing application of automated material handling equipment at manufacturing sites for enhancing the operational efficiency, is propelling growth of the segment.
Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period
Rapid growth in the e-commerce industry, growing adoption of advanced technologies by manufacturers, presence of the leading players such as Intelligrated Systems Inc., John Bean Technologies Corporation and Honeywell International, Inc. and high per capita income, are some of the important factors augmenting the market growth in North American region.
Key Developments
In 2019, BEUMER BEUMER Group introduced a new BG Line Sorter, which is cost-effective and possesses a high-speed cross-belt for optimizing the order flow in of the conveyor.
In 2020, Kuka introduced a new range of KR SCARA jointed-arm robots, it is increasingly used in processes such as minor parts assembly, inspection tasks, and materials handling.
In 2020, Industrial automation giant Kuka introduced a new KR IonTec industrial robot range for any task in the 30 to 70 kg payload category.
Market Segmentation
Segmentation by Type
Conveyors & Sortation Systems
Automated Robots
Automated Guided Vehicle (AGV)
Warehouse Management System (WMS)
Cranes, Automated Storage and Retrieval System (ASRS)
Segmentation by System
Bulk Load
Unit Load
Segmentation by End-User
Logistics
Metals & Heavy Machinery
Automotive
Pharmaceuticals
E-commerce
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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