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Automated Material Handling Equipment Market: Projected Growth and Key Trends for 2024-2029
Automated Material Handling Equipment Market
What Is The Projected Market Size Of The Global Automated Material Handling Equipment Market And Its Growth Rate?
* The market for automated material handling equipment has seen significant growth in recent years. It is projected to grow from $40.14 billion in 2024 to $43.34 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%.
* This strong growth can be attributed to demand for scalability, shift to just-in-time manufacturing, globalization of supply chains, the rise of robotics, and logistics optimization.
* The market size is expected to see robust growth in the future and is expected to reach $59.43 billion in 2029 at a CAGR of 8.2%. The key drivers for this growth will be industry digitization, warehouse automation, industry 4.0 advancements, smart manufacturing initiatives, and the demand for customizable solutions.
What Is Driving The Growth In The Automated Material Handling Equipment Market?
The surge in e-commerce is a key driver for the growth of the automatic material handling equipment market. Online retail, which includes the purchase and sale of goods and services, and the transmission of money or information over the internet, is a large part of e-commerce. The widespread adoption of e-commerce results from changing consumer preferences, increased convenience, and personalized customer experiences. Automated material handling equipment enhances packaging efficiency and manages supply chain ecosystems. For example, Shopify Inc., a Canada-based e-commerce company, predicted that the global e-commerce sector would be valued at $6.3 trillion in 2023, and it's likely to rise even further. Expected to account for 21.2% of all retail sales by 2024, the rise in e-commerce is fueling the growth of the automated material handling equipment market.
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Who Are the Key Players Driving Automated Material Handling Equipment Market Growth?
Major firms operating in the automated material handling equipment market include:
* 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.
What Are The Key Trends In The Automated Material Handling Equipment Market?
Prominent trends in the forecast period include:
* Supply chain resilience
* Sustainable practices
* Remote monitoring and control
* Urbanization and logistics
* Software integration
What Are The Segments Of The Global Automated Material Handling Equipment Market?
The market is segmented by:
* Product: Robot, ASRS, Conveyors And Sortation Systems, Cranes, WMS, AGV
* System Type: Unit Load Material Handling, Bulk Load Material Handling
* Vertical: Automotive, Metals And Heavy Machinery, Food And Beverages, Chemicals, Healthcare, 3PL, Semiconductors And Electronics, Aviation, E-Commerce, Other Verticals
Which Region Leads The Automated Material Handling Equipment Market?
Asia-Pacific was the largest region in the automated material handling equipment market in 2024. North America is expected to be the fastest-growing region during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automated Material Handling Equipment Market Global Market Report?
- Market Size Analysis: Analyze the Automated Material Handling Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automated Material Handling Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automated Material Handling Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automated Material Handling Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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