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.
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Browse in-depth TOC on “Automated Material Handling Equipment Market”
170 – Tables
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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 |
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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.
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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.
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