Publication Month: Oct 2018 | Report Code: TIPTE100000628 | No. of Pages: 232 | Category: Manufacturing and Construction | Status: Published
Automated material handling equipment utilizes computerized devices such as robots for moving, lifting, pulling, pushing, storing, and retrieving goods. Growing use of a single mechanical equipment or devices such as check-in tools, sorters, conveyors, stackers, unloading machines, totes, bins, trolleys, and tote carriers is propelling the global automated equipment handling equipment market growth. Growing incorporation of advanced technology to build automated material handling systems that require no manual interference for moving, picking, dropping, and storing products is increasing the global automated material handling equipment market value. These systems also offer various benefits such as faster, agile, and easily scalable features and task completion with careful planning.
Growing demands for high precision and accuracy in material handling is leading to substantial initial investments and innovations in designing and developing a customized system that can increase productivity and achieve order fulfillment precision. Key market players across the globe are significantly investing in automated systems as they have a higher productivity and can be used wide range of applications such as warehousing and distribution, airport baggage handling, manufacturing and bulk handling, and postal and parcel delivery. This is further enhancing the global automated material handling equipment market size. High efficiency and reliability of material handling automation systems increases the productivity and profitability of a warehouse or distribution center, thereby increasing the automated material handling equipment market share globally.
There is a growing demand for material handling equipment used for storage, movement, protection and control of goods, and materials, raw material procurement, manufacturing, warehousing, distribution, and disposal, which, in turn, encourage industries around the world to increasingly adopt modern machines equipped with advanced technologies to scale up productivity. This is boosting the global automated material handling equipment market share across the globe. Several governments have launched various initiatives and budget allocation for the industrial infrastructure projects that are likely to boost the demand for advanced product handling machines. The US government, for instance, recently proposed a US$3 trillion package for the improvement of manufacturing and high-technology industries in the region. Modernization of industrial facilities and wide range availability of material handling equipment are expected to boost the automated material handling equipment market value in the coming years. Automated-guided vehicles (AGVs) and industrial trucks provide several economic benefits to enable the transfer of heavy goods easily. This has further augmented the demands for integrated systems, software, and hardware components such as sensors that are helping in reducing the labor cost. Therefore, the substantial demand for industrial trucks and AGVs in large-scale industries is anticipated to boost the global automated material handling equipment market size.
Based on industry, the automated material handling equipment market is segmented into automotive, electronics, food & beverages, e-commerce, aerospace, logistics, pharmaceuticals, and others. North America is observing a significant growth in the food & beverages industry leading to an escalating demand for heavy material handling systems in flourishing food, beverage, and processed food industries. Considerable growth in the manufacturing sector in South America is anticipated to boost the automated material handling equipment market growth. Initialization of trade partnerships is encouraging product penetration in regions such as the US and Mexico. The e-commerce industry is estimated to observe a significant demand for automated material handling equipment for the stocking and storage of products in warehouses, reduce time, and automate retrieval solutions. Changing lifestyle has augmented the shift toward automation mechanism that is likely to provide lucrative growth opportunities for the players in the automated material handling equipment market.
Players operating in the automated material handling equipment market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below: