In its new research report, Market Research Future (MRFR), highlights that the global automated material handling market has estimated USD 43.6 Billion to grow its market size in 2021. The automation material handling market has expected to reach 12.0% CAGR and meet the growth of USD 76.8 Billion in the forecast period of 2021 to 2027.
Drivers and Restraints
Such equipment has grown dramatically over the last few years, experiencing several notable transformations with the introduction of technology. Manufacturers are clearly the guiding force to carry these changes in. Keeping the three goals in mind, they have established a range of automated equipment such as conveyors, elevators, cranes, lift and lift truck track cranes, stackers, bridge cranes and monorails, gantry cranes and helicopter lifts, etc. Technological developments that prevailed in this sector have gradually taken advantage of functional and cost-effective approaches leading to the automation of these equipment. These innovations have accompanied their market value to an unprecedented level, making these devices popular and widely adopted.
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Other factors that contribute to the growth of the market include rising automation across production industries. The ever-growing need for resource utilization and consumption of raw materials drives the demand & adoption of Automated Material Handling equipment. In addition to factors such as continuous technical progress, the modernization of the manufacturing plants, and the expansion of the industrial base in developing countries, Automated Material Handling equipment is providing fuel for business development.
Industrial Internet of Things (IIoT) proliferation driven by new automation projects pursued by manufacturers moving towards Industry 4.0 revolution has shaped business growth, enhancing their operations. Extensive analytics take-up will allow the industry to experience a tremendous change in the coming years.
The major market players operating in the Automated Material Handling Market as acknowledged by MRFR are Schaefer Holding International (Germany), Daifuku Co. Ltd (Japan), Dematic (U.S.), Murata Machinery (Japan), Mecalux (Spain), Vanderlande Industries (U.S.), BEUMER Group (Germany), Swisslog AG (Switzerland), Kardex (Switzerland), Intelligrated (U.S.) among others.
Automated Material Handling Market - Segmentation
Segmentation by Operation: storage & transportation, Packaging & distribution, assembly, waste management, among others.
Segmentation by Software & Services comprises Services- (Maintenance & repairs, training, and software up-gradation), Software (TMS- Transportation management system, WMS- Warehouse management system).
Segmentation by Application includes e-commerce, foods & beverages, healthcare, automotive, chemicals, aviation, semiconductors, and electronics, among others.
Segmentation by Automated Equipment comprises Automated guided vehicles, automated cranes, robotics systems, automated storage and retrieval system, conveyors, among others.
Automated Material Handling Market - Regional Analysis
The geographical synopsis of the Automated Material Handling market has been analyzed in four major regions, including North America, Europe, the Asia Pacific, and the rest of the world.
Due to the presence of numerous manufacturing plants in the various countries in the region, the Asia-Pacific region dominates the Automated Material Handling industry. Many of the APAC nations are in their growth process and are therefore available to foreign investors, thereby allowing multi-domain international players to available the production unit in these countries. The Asia-Pacific region is also expected to grow substantially in the Power Quality Equipment (PQE) space. In addition, automated material handling facilitates the distribution and production of materials, mainly in the e-commerce sector. Thereby, booming eCommerce and the PQE industry will provide a great incentive to the development of the APAC market of Automated Material Handling.
Europe is the second-largest Automated Material Handling market in terms of sales and market size. A resurgent economy coupled with the booming regional industrial sector combined with increased security concerns in the workplace, especially in the automotive, food & beverage, and metal & heavy industries will drive regional market growth.
On the other hand, North America, due to the presence of multiple manufacturing plants, mainly in the U.S., represents the third-largest market for automated material handling. The proliferation and uptake of advanced technology mostly stimulate market growth.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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