Automated Material Handling Equipment Market worth $53.6 billion by 2024

According to the new market research report Automated Material Handling Equipment Market by Product (Robots, ASRS, Conveyor and Sortation Systems, Cranes, AGV), System Type (Unit Load, Bulk Load), Software & Services, Function, Industry, and Region – Global Forecast to 2024″, the automated material handling equipment market is estimated to reach USD 53.6 billion by 2024 from USD 33.5 billion in 2018, at a CAGR of 8.2% between 2018 and 2024.

Browse 67 market data Tables and 71 Figures spread through 184 Pages and in-depth TOC on “Automated Material Handling (AMH) Equipment Market – Global Forecast to 2024”

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AMH equipment refers to an integrated system used for material handling and storing during manufacturing, warehousing, and distribution of a product. These systems also serve the purpose of controlling the material flow. The key objective of deploying the AMH equipment is to ensure that the right amount of the material is safely delivered to the desired destination at the right time and at minimum cost. The AMH equipment products include automated guided vehicles (AGV), automated storage and retrieval systems (ASRS), cranes, robots, and conveyors and sortation systems. The growth of the market is propelled by growing presence of start-up companies offering robotic solutions for warehouse automation, increasing popularity of AMH equipment among leading industries, significant recovery in global manufacturing, and rising labor cost and safety concerns.

“Based on product, robots expected to grow at the highest CAGR in the automated material handling equipment market between 2018 and 2024”

Robots are used to automate the manufacturing of goods. The robots are further classified on the basis of type into fixed and mobile robots. Robots are used for the applications such as assembly, machine loading, material removal, order picking, packaging, and waste handling in the manufacturing industries. The use of robots aids in reducing labor cost, protecting personnel or employees from injuries, and providing a high return on investment. Implementing robots greatly increases the efficiency and productivity of manufacturing and warehouse operating companies.. These factors are fueling the demand for robots in manufacturing units and warehousing facilities.

Material Handling Equipment Market

“Based on system type, unit load material handling systems expected to grow at the highest CAGR in the automated material handling equipment market between 2018 and 2024”

Unit load material handling systems involve appropriately sized items organized into a single unit that can be moved easily. Unit loads make handling, storage, and distribution more efficient. The types of AMH equipment used to handle unit load include AGV, ASRS, and robots. They can identify the unit load to pick up and determine its appropriate destination. The unit load material handling systems are widely used in various industries as they are cost effective and have many advantages such as the ability to handle several items simultaneously, thereby reducing the number of trips, the time required for loading and unloading, and the cost of handling.

“Based on function, packaging expected to grow at a the highest CAGR in the automated material handling equipment market”

The role of packaging has become significant in the industries such as e-commerce, food & beverages, chemicals, and pharmaceuticals. The primary purpose of packaging is to provide protection to the item or product as it is handled numerous times during the order fulfillment process. Manufacturers prefer automated packaging equipment for quick delivery to the consumer. The use of AMH equipment in the packaging process enhances the quality of packaging. The equipment is capable of working with various packaging designs and multiple pack sizes for different products. They can optimize the packaging of both small and large, and fragile products with optimum speed, along with eliminating the human errors.

E-Commerce industry expected to grow at the highest CAGR between 2018 and 2024 in the automated material handling equipment market”

The e-commerce industry has evolved tremendously over the past few years. Moreover, the industry has been one of the major contributors to the growth of the AMH equipment market. Rapidly changing customer demands, increasing preference for online shopping, growing demand for shorter delivery times, and fierce competition among online retailing companies have raised the demand for automated fulfillment centers. With the increasing adoption of AMH equipment, the online and multichannel retailers can meet the increasing consumer demand to shop anywhere and at any time with fast, accurate shipments, and outstanding customer service. The growing demand accelerated order processing and delivery of product to customers in an accurate and undamaged form; rising competition in the e-commerce industry; and rapid rise in the online shoppers are propelling the e-commerce companies to invest in AMH equipment to improve their material handling efficiency.

“APAC expected to be the fastest-growing market for automated material handling equipment during the forecast period”

APAC constitutes some of the largest and fastest-growing economies – such as China, Japan, and India—in the world. Huge domestic demand for products and services, and significant business growth opportunities have led to the establishment of the manufacturing and warehousing units of various industries, such as automotive, metals & heavy machinery, and semiconductor & electronics, in the region. This offers an attractive growth opportunity for the AMH equipment market in APAC. The rising awareness related to warehouse automation, increased emphasis of the leading developing economies such as China and India on robotics and automation, and growing e-commerce industry are some of the primary factors contributing to the larger share of APAC in the AMH equipment market.

Major players involved in the AMH equipment market include Toyota Industries (Japan), Jungheinrich (Germany), KION (Germany), Daifuku (Japan), Hyster-Yale Materials Handling (US), Hanwha (South Korea), John Bean Technologies (US), KUKA (Germany), BEUMER (Germany), Fives (France), KNAPP (Germany), Murata Machinery (Japan), SSI Schaefer (Germany), TGW (Austria), and Viastore (Germany).

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