The Global Market for Automated Material Handling Equipment is Projected to Reach US$42.2 Billion by 2024

Increasing Complexity of Distribution & Logistics Networks and Growing Need to Improve Productivity across the Supply Chain Drive Demand for Automated Material Handling Equipment, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Automated Material Handling Equipment market. The global market for Automated Material Handling Equipment is projected to reach US$42.2 billion by 2024, driven by increasing complexity of distribution and logistics networks, changing workforce demographics, growing need to improve productivity at all phases of the supply chain, and increasing demand for high speed and accuracy to meet omnichannel fulfilment demands.

Automated material handling offers an accurate, efficient and cost-effective approach for faster and easy movement of materials/goods throughout the facility.  These systems are designed to reduce or eliminate manual labor for material handling operations such as moving, sorting, organizing and retrieving of materials. Growth in the Automated material handling systems  market is driven by factors such as a rapidly changing manufacturing landscape, growing need to improve efficiency of plants, and optimize supply chain management amid increasing  consumer demand for greater product choices, and rise in volumes of materials being manufactured and stored. Accelerated growth of e-commerce, rise in large scale omnichannel distribution, and increasing cost pressures driven by shorter lead times is pushing the need for decentralized warehouse and logistics capacity to facilitate faster delivery of goods, thereby driving the demand for automated material handling equipment. Changing workforce demographics and growing focus om improved working and safety conditions is another major factor  driving manufacturers to opt for automated material handling systems.

Efforts in the material handling industry are focused on developing new technologies, equipment and systems, which assist in providing visibility throughout the entire supply chain. In the long run, growing trend towards adoption of "Industry 4.0" and advanced technologies such as driverless vehicles, robotics, autonomous control and wearable computing are expected to drive growth in the automated material handling systems market. Developing fields such as Industry 4.0 and Internet of Things (IoT) are enabling companies to use modern data analytics methods to generate insights and obtain high levels of visibility of operations along with workflow optimization, and operational efficiency. Segment-wise, Automated Storage & Retrieval Systems (AS/RS) represent the largest product segment. Growth in the market is driven by the increasing focus on improving labor and space utilization and the need for real time inventory control. Automated Guided Vehicles are especially gaining popularity for use in applications that involve a number of repetitive actions over long distances, or involve transportation of extremely heavy loads. Cloud WMS (Warehouse Management Systems) is evolving as an important part of retail supply chain with the software being integrated with automated materials handling systems at larger distribution centers. Modern robots are also integrated with artificial intelligence software and advanced lidar sensors to facilitate flexible, and collaborative material handling and picking up variable items at high throughput rates.

As stated by the new market research report on Automated Material Handling Equipment, Asia-Pacific represents the largest and fastest growing market, worldwide. The region is poised to record the fastest CAGR of 7.8% over the analysis period, led by an expanding manufacturing sector, rapidly growing e-commerce market and strong need for improving efficiency and productivity in logistics space.

Major players in the market include Bastian Solutions, BEUMER Group GmbH & Co. KG, Daifuku Co. Ltd., Hytrol Conveyor Co. Inc., Honeywell Intelligrated, Jungheinrich AG, Kardex AG, KION Group AG, Mecalux S.A, Murata Machinery Ltd., SSI SCHAEFER, Swisslog Holding AG, Toyota Industries Corporation, and Vanderlande Industries Nederland B.V., among others.

The research report titled “Automated Material Handling Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea, Taiwan and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil, Mexico and Rest of Latin America). Product segments analyzed include Automated Storage & Retrieval Systems and Others.

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