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Automated Truck Loading System Market 2024 - By Key Players, Regional Overview, Opportunities, Challenges And Outlook By 2033
Automated Truck Loading System Market
According to The Business Research Company's, The automated truck loading system market size has grown strongly in recent years. It will grow from $2.86 billion in 2023 to $3.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increased demand for efficiency and productivity, growing demand for automation systems, increasing use of microprocessors in automated truck loading systems, government initiatives.
The automated truck loading system market size is expected to see strong growth in the next few years. It will grow to $4.03 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to continued growth of the e-commerce sector, increasing adoption of artificial intelligence in e-commerce (atls) by small and medium-sized enterprises (smes), global supply chain complexity, integration with warehouse management systems (wms). Major trends in the forecast period include autonomous loading and unloading, real-time tracking and visibility, green and sustainable solutions, robotics and ai in e commerce, data analytics and predictive maintenance, cloud-based automated truck loading system development.
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Market Drivers and Trends:
Growing manufacturing activities are expected to propel the growth of the automated truck-loading system market going forward. Manufacturing refers to the process of transforming raw materials or component components into completed things using tools, labor, machinery and chemical processing. The use of automated truck loading systems has a significant role in the expansion of manufacturing activities, as these systems are used to provide effective and automated loading processes that reduce manual labor, increase productivity and enhance logistics operations. For instance, in February 2023, according to Statistics Canada, a Canada-based government agency, the manufacturing industry in Canada experienced remarkable growth, with total sales increasing by 17.9% to reach $850.9 billion in 2022. Furthermore, in March 2022, according to a report shared by the United Nations Industrial Development Organization, an Austria-based specialized agency, global manufacturing production rose by 9.4% in 2021. Therefore, growing manufacturing activities are driving the growth of the automated truck-loading system market.
Major companies operating in the automatic truck-loading system market are focused on developing advanced product, such as automated guided trucks to sustain their position in the market. Automated guided trucks (AGTs) are a type of autonomous or mobile robot that is guided by markers to transport loads. For instance, in June 2021, VisionNav Robotics USA Inc., a US-based supplier of autonomous industrial vehicles and intralogistics automation solutions, launched the VNE20 series of automated guided counterbalanced trucks. The VNE20 product is designed with powerful sense and motion control skills by merging self-built 3D laser and visual perception technology, multi-axis real-time motion planning technology and high-precision visual servo control technology. A combination of its maximum working speed of 3.0 m/s, multi-axis motion and accurate and continuous fork movement, the VNE20's peak productivity can be compared to that of a manual truck in a challenging and dynamic environment.
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Major Key Players of the Market:
Toyota Industries Corporation, Konecranes PLC, Dematic Corporation, FLSmidth & Co. A/S, Heico Companies LLC, JBT Corporation, BEUMER Group GmbH & Co. KG, Haver & Boecker OHG, Duro Felguera S.A., Lödige Industries GmbH, Maschinenfabrik Möllers GmbH, Blue Star Engineering & Electronics Limited, Europa Systems, Joloda International Ltd., Interlake Mecalux Inc., CLSi Logispeed, Alligator Automations, TRAPO AG, VDL Systems B.V., Actiw Oy, Cargo Floor B.V., GEBHARDT Fördertechnik GmbH, Secon Components S.L., Loading Automation Inc., ATLS Ltd.
Automated Truck Loading System Market 2024 Key Insights:
• The automated truck loading system market is expected to grow to $4.03 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Growing Manufacturing Activities Fuel The Expansion Of The Automated Truck-Loading System Market
• Innovative Agt Solutions Drive Market Dominance For Leading Companies
• Europe was the largest region in the automated truck loading system market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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