IMARC Group, a leading market research company, has recently releases report titled “Automated Material Handling Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automated material handling equipment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Automated Material Handling Equipment Market?
The global automated material handling equipment market size reached US$ 37.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.
What is Automated Material Handling Equipment?
Automated material handling equipment (AMHE) refers to instruments designed to efficiently handle, transport, store, and control materials within a facility. It includes automated guided vehicles (AGVs), conveyors, automated storage and retrieval systems (AS/RS), automated cranes, and robotic systems, among others. AMHE is comprised of several components, such as sensors, controllers, software, power supply, and the mechanical elements that perform the handling tasks. It offers various features, such as high-speed operation, precision, and automation. AMHE is widely used in manufacturing, warehousing, distribution centers, retail, airports, hospitals, and more. It aids in reducing labor costs, improving worker safety, enhancing throughput, optimizing storage space, and ensuring better inventory management. In addition, AMHE provides numerous advantages, such as increased accuracy, consistency, flexibility, scalability, and reliability.
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What are the Growth Prospects and Trends in the Automated Material Handling Equipment Market?
The heightened demand for automated material handling equipment due to the ongoing industrialization and modernization of manufacturing facilities is propelling the market growth. Additionally, the expanding e-commerce industry, which has increased the demand for efficient warehousing and distribution solutions, is driving the market growth. Besides this, the rising focus on worker safety and the need to reduce workplace accidents is catalyzing the market growth.
Furthermore, recent technological advancements, such as the Internet of Things (IoT), artificial intelligence (AI), and robotics that are revolutionizing AMHE systems, making them smarter and more efficient, are positively influencing the market growth. In addition, the rapid adoption of Industry 4.0 principles, which is driving the need for interconnected and automated material handling solutions, is supporting the market growth. Apart from this, the growing emphasis on sustainable practices, fostering the development of eco-friendly AMHE, is favoring the market growth. Moreover, the globalization of supply chains, which necessitates efficient material handling solutions to manage complex logistics operations, is fueling the market growth. Along with this, the rising labor costs and shortage of skilled workforce, driving industries towards automation, are strengthening the market growth.
Who are the Key Players Operating in the Automated Material Handling Equipment Industry?
The report has also analysed the competitive landscape of the market with some of the key players.
- BEUMER Group GmbH Co. KG
- Daifuku Co. Ltd.
- Honeywell International Inc.
- JBT Corporation
- Kion Group AG
- KNAPP AG
- KUKA Aktiengesellschaft (Midea Group Co. Ltd.)
- Murata Machinery Ltd.
- TGW Logistics Group GmbH
- Toyota Industries Corporation
- Viastore Systems GmbH.
What is Included in Market Segmentation?
The report has categorized the market based on component, product, function, system type and end use industry.
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Product:
- Conveyors and Sorting Systems
- Automated Storage and Retrieval Systems
- Robots
- Automated Guided Vehicles
- Others
Breakup by Function:
- Assembling
- Packaging
- Storage
- Transportation
- Distribution
- Others
Breakup by System Type:
- Unit Load
- Bulk Load
Breakup by End Use Industry:
- Automotive
- Chemicals
- Aviation
- Semiconductor and Electronics
- E-Commerce
- Food and Beverages
- Healthcare
- Others
Regional Analysis:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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