CHICAGO, May 3, 2023 /PRNewswire/ — The Automated Material Handling Equipment Market is expected to reach USD 45.7 billion by 2028 from USD 30.6 billion in 2023, at a CAGR of 8.3 % during the 2023–2028 period according to a new report by MarketsandMarkets™. The ever-evolving automotive, e-commerce, food & beverage, 3PL, and other industries, along with their continuous production, are major factors driving the growth of the global automated material handling equipment market. Moreover, the need for ASRS and AGVs for several applications is also a key factor contributing to the market growth.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=92483121
Browse in-depth TOC on “Automated Material Handling Equipment Market”
170 – Tables
60 – Figures
270 – Pages
Automated Material Handling Equipment Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$30.6 billion |
|
Estimated Value by 2028 |
$45.7 billion |
|
Growth Rate |
Poised to grow at a CAGR of 8.3% |
|
Market Size Available for |
2019–2028 |
|
Forecast Period |
2023–2028 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product, System Type, Industry and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
Development of flexible and scalable AMH equipment |
|
Key Market Opportunities |
Substantial industrial growth in emerging economies |
|
Key Market Drivers |
Rise in demand for automated material handling equipment across diverse industries |
Unit load material handling system is expected to account for the largest share of the automated material handling equipment market during the forecast period.
Unit Load Material Handling Systems held a larger market share in 2022. These systems are majorly used in several industries as they are cost-effective and can effectively handle several items simultaneously. This helps in reducing the number of trips, the time required for loading and unloading, as well as the cost of handling. The growing demand for automated material handling equipment in the e-commerce industry is anticipated to propel the unit load material handling systems market during 2022−2027.
The e-commerce industry is projected to account for significant share of automated material handling equipment market during the forecast period.
The growing demand for accelerated order processing and delivering of products to customers in an accurate and undamaged form, rising competition in the e-commerce industry, and a rapidly growing number of online shoppers are propelling e-commerce companies to invest in automated equipment to improve their material handling efficiency. Short delivery times, accurate order processing, advanced shipment tracking, and an increased number of online shoppers are key factors boosting the adoption of warehouse management systems in this industry. The increase in globalization and the emergence of online retailing and bulk retailing escalated the demand for AMHE in the e-commerce industry.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=92483121
Asia Pacific is expected to register the highest CAGR during the forecast period.
Growing awareness for warehouse automation and the growing e-commerce industry are some of the key factors contributing to the substantial growth of Asia Pacific in the market. The rapid growth of automotive, e-commerce, and healthcare industries in major Asian economies, such as China and Japan, contributed to the growth of the automated material handling equipment industry in the region. Moreover, various national governments in Asia Pacific countries are increasingly emphasizing mainly on safety and security on production floors, for which the deployment of automated material handling equipment is increasingly adopted. The market is experiencing rapid growth in countries such as China and Japan, owing to large investments by manufacturers and suppliers in installing several equipment at warehouses and distribution centers.
The report profiles key players in automated material handling equipment companies such as Daifuku, KION, SSI Schaffer, Toyota Industries, and Honeywell International.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=92483121
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports & Consulting
Related Reports:
RFID Market Size, Share & Industry Growth Analysis Report by Offering (Tags, Readers, Software & Services), Tag Type (Passive, Active), Wafer Size, Frequency, Form Factor (Card, Implant, Key Fob, Label, Paper Ticket, Band), Material, Application & Region – Global Growth Driver and Industry Forecast to 2030
Warehouse Management System Market by Offering (Software, Services), Deployment (On Premises, Cloud), Tier Type (Advanced, Intermediate, Basic), Industry, and Region-2026
Automated Guided Vehicle Market by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology, Industry, and Region (2021-2026)
Warehouse Robotics Market by Type (AMR, AGV, Articulated, Cylindrical and SCARA) Function (Pick & Place, Palletizing & Depalletizing, Transportation, Packaging), Payload, Industry, and Region, 2026
Automated 3D Printing Market by Offering (Hardware, Software, and Services), Process (Material Handling, Automated Production, Part Handling, Post-Processing, and Multiprocessing), End User (Aerospace & Defense, Healthcare), and Geography – Global Forecast to 2023
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automated-material-handling-manufacturing-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/automated-material-handling-manufacturing.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets