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Automated Material Handling Equipment Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends
Automated Material Handling Equipment Market Size
As per the report, the automated material handling equipment market size has grown strongly in recent years. It will grow from $37.36 billion in 2023 to $40.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The automated material handling equipment market size is expected to see strong growth in the next few years. It will grow to $55.03 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
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E-Commerce Surge Fuels The Automatic Material Handling Equipment Market
The rising e-commerce is driving the automatic material handling equipment market. The purchasing and selling of products and services, or the sending of money or data, through an electronic network, typically the internet, is known as e-commerce. The e-commerce sector is rising due to changes in consumer preference, increased convenience, and personalized experience. The automatic material handling equipment provides convenience in good packaging and manages the supply chain ecosystem. For instance, according to Forbes, an American business magazine, in the US, e-commerce sales reached $870 billion in 2021, up 50.5% from the previous year. In the US, e-commerce accounted for 13.2% of retail sales in 2021. Thus, such a rise in e-commerce will propel the automatic material handling equipment market.
Innovative Technological Trends Transforming The Automated Material Handling Equipment Market
Technological advancements are the key trends gaining popularity in the automated material handling equipment market. Major players are concentrating on creating innovative technologies such as deep automation to sustain their position in the automated material handling equipment market. Deep automation generally refers to a high level of automation that involves advanced technologies, often incorporating artificial intelligence (AI) and machine learning (ML) capabilities. For instance, in May 2023, Epiroc AB, a Sweden-based company that specializes in providing equipment and services launched deep automation. The device is intended to enhance productivity, safety, and efficiency in underground mining operations by decreasing the need for human intervention and raising the precision and accuracy of material handling procedures. With the ability to automate several operations and processes, including drilling, loading, hauling, and dumping, this state-of-the-art technology represents the next generation in automation solutions for underground material handling.
The automated material handling equipment market covered in this report is segmented -
1) By Product: Robot, ASRS, Conveyors And Sortation Systems, Cranes, WMS, AGV
2) By System Type: Unit Load Material Handling, Bulk Load Material Handling
3) By Vertical: Automotive, Metals And Heavy Machinery, Food And Beverages, Chemicals, Healthcare, 3PL, Semiconductors And Electronics, Aviation, E-Commerce, Other Verticals
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Major companies operating in the automated material handling equipment market report are Daifuku Co Ltd., Toyota Industries Corporation, Kion Group AG, Honeywell International Inc., Fritz Schäfer GmbH, The Beumer Group GmbH & Co KG, Cargotec Oyj, John Bean Technologies Corporation, Murata Machinery Ltd., INCAS SpA S.U., Jungheinrich AG, KNAPP Group, Midea Group, TGW Logistics Group, Siemens AG, Robert Bosch GmbH, Schaefer Systems International Inc., Hyster-Yale Materials Handling Inc., Fives Group, KUKA AG, SSI Schaefer Systems International DWC LLC, Vecna Robotics Inc., Grey Orange Pte. Ltd., The Interroll Worldwide Group, Swisslog Holding AG, Dematic GmbH, Vanderlande Industries, Grenzebach Maschinenbau GmbH, Bastian Solutions LLC, Mecalux S.A., Viastore Systems GmbH, Witron Logistik + Informatik GmbH
Contents of the report:
1. Executive Summary
2. Automated Material Handling Equipment Market Report Structure
3. Automated Material Handling Equipment Market Trends And Strategies
4. Automated Material Handling Equipment Market - Macro Economic Scenario
5. Automated Material Handling Equipment Market Size And Growth
…..
27. Automated Material Handling Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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