The automated material handling equipment market is projected to grow at a considerable CAGR during the forecast period (2020-2026). The growing technological advancement in the e-commerce logistics industry is expected to be one of the key factors to drive the growth of the global automated material handling equipment market. E-commerce companies have to deal with thousands of parcels that have to be delivered at various different locations. Performing this manually is tedious and time-consuming and there is the possibility of error as well. Hence, companies are introducing the automated logistic program in order to remove errors while storage and delivering the product.
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Economies such as China, Japan, and major European economies have introduced a number of automated plants in order to deliver faster and error-free delivery services. A number of companies are providing logistic solutions across the globe. Honeywell, Murata Machinery, Dematic, Daifuku, Swisslog, Knapp AG, and Jungheinrich AG are some of the global market players that are providing logistic solutions. The logistics industry is growing at an accelerated rate in the entire Asia-Pacific that further provides substantial growth in the automated material handling equipment market. For instance, in India Walmart owned Flipkart, announced setting up a 4.5 million sq. ft logistic park in Bengaluru. This large warehouse in the emerging economies such as India and China are opening several opportunities for other countries of the Asia-Pacific in the future.
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Along with Asia-Pacific, the market in North America and Europe primarily the US and UK respectively possess significant potential for technological integration and is estimated to fuel the growth of the automated material handling equipment market across the globe during the forecast period. With respect to the introduction of new technology in the market, in September 2018, an exhibition “TILOG Logistics 2018” in Bangkok, Thailand was held in order to connect companies in Asia-Pacific.
Another logistic solutions provider Daifuku which is headquartered in Japan offers automated logistic systems. It provides solutions to manufacturers such as building automated sorting technologies, factory line automation systems in automotive plants, and home delivery warehouses. As per the company, it is using Thailand as a base for the Asia-Pacific region and is strategically expanding business operations in other countries of Asia-Pacific thus creating significant growth in the market.
Global Automated Material Handling Equipment Market Segmentation
By System Type
- Robots
- Automated Storage & Retrieval System (ASRS)
- Conveyor and Sortation Systems
- Cranes
- Others
By Product Type
- Hardware
- Software
By Industry
- Automotive
- Food & Beverage
- Chemical
- Metals & Heavy Machinery
- Retail, Third Party Logistics, & E-commerce
- Healthcare
- Others
