The automated material handling equipment market is accounted for more than US$ 33 Bn in 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Automated Material Handling Equipment Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global Automated Material Handling Equipment Market, By Type (Storage and Handling Equipment, Automated Storage and Retrieval System, Industrial Trucks, Bulk Material Handling Equipment, Others), By End-Use (Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-Commerce, Aviation, Pharmaceutical, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In terms of value, global automated material handling equipment market is accounted for more than US$ 33 Bn in 2019, and expected to grow at a CAGR of 7.6% during the forecast period of 2020 to 2025.
As per the report, the growing demand for incorporation of automation and modernization in manufacturing processes across the world is primarily driving the growth of the global automated material handling equipment market. In various manufacturing processes, any automation that minimizes or eliminates the need for humans in various activities such as check-out, check-in, sort material, or to move totes and bins containing other material is known as the automated material handling equipment. The automated material handling equipment speeds up productivity as well as improves efficiency, owing to which it witnesses huge demand in the global market, thus propelling the growth of the global automated material handling equipment market.
Also nowadays, in order to enhance business competitiveness and performance, supply chain management and logistics management has become an essential aspect across several industries. Thus, satisfying customer’s demands and providing the right commodity, in the right time, at the right place, and in the right condition is very important. This allows providers to maintain cash disbursements, establish inventories, and enhance the performance of the processes, further prospering business activities. In such situations, automated material handling equipment assists in smooth functions of all the processes, thereby boosting the growth of the global automated material handling equipment market.
Moreover, with the introduction of advanced technologies such as wireless technologies, robotics, and driverless vehicles, the automated material handling equipment market has observed rapid growth across the world. In addition, the key market players of the global market are also focused in the automated material handling industry and on the manufacturing of affordable, tiny, portable, and energy-efficient material handling solutions so that it can reach to a broader customer base, thus stimulating the demand globally.
Although huge initial installation cost of automated material handling equipment acting as a one of the major barrier and restraining the growth of the global automated material handling equipment market.
MMC Study identifies some of the key participating players in the automated material handling equipment market globally are Daifuku Co. Ltd., Siemens AG, Bosch Rexroth, Murata Machinery Ltd., Swisslog Holding AG, SSI Schaefer AG, Dematic Group S.A.R.L, Toyota Industries Corporation, JBT Corporation and Bastian Solutions, Inc.
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