Dublin, June 06, 2024 (GLOBE NEWSWIRE) -- The "Global Automated Material Handling Equipment Market - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Automated Material Handling Equipment market is anticipated to grow from USD 33.3 billion in 2024 to USD 51 billion by 2029, at a CAGR of 8.9% from 2024 to 2029.
The e-commerce industry is booming due to a surge in online shoppers, driving both B2C and B2B sales. To meet the escalating demand and ensure timely delivery, e-commerce companies are turning to automation, particularly ASRS systems. These systems streamline order processing by automatically bringing products to operators, enhancing efficiency, and managing diverse product SKUs. ASRS technology optimizes inventory management, improves order accuracy, and speeds up fulfillment, aided by advancements such as AI integration. This automation reduces errors, maximizes warehouse space, and boosts customer satisfaction, fueling the growth of the ASRS market in e-commerce.
ASRS to account for the largest share of the Automated Material Handling market in 2024
Automated Storage and Retrieval Systems (ASRS) are projected to dominate the automated material handling market, claiming the largest share. ASRS technologies revolutionize warehouse operations by automating the storage and retrieval of goods, utilizing advanced robotics, conveyors, and software. Their ability to efficiently manage diverse product SKUs and lead times makes them indispensable in meeting the increasing demands of various industries, particularly e-commerce, manufacturing, and logistics. ASRS solutions streamline order processing, enhance inventory management, and ensure precise order fulfillment, thereby driving their widespread adoption and market dominance. Continuous advancements, such as the integration of AI and machine learning algorithms, ASRS systems are expected to further solidify their position as the leading solution for automated material handling in 2023 and beyond.
Third Party logistics (3PL) is expected to grow at the highest CAGR in the Automated Material Handling market during 2024-2029
During the forecast period from 2024 to 2029, the Third-Party Logistics (3PL) segment is expected to undergo the highest CAGR. These 3PL providers play a significant role in driving advancements in the Automated Material Handling Equipment (AMHE) market by leveraging technologies to optimize supply chain operations. Businesses are increasingly turning to 3PL providers to outsource their logistics functions, allowing them to concentrate on core competencies while benefiting from the specialized expertise and resources provided by these companies.
3PL firms manage warehouses equipped with advanced technologies such as Automated Storage and Retrieval Systems (ASRS), conveyor systems, and robotic pickers, facilitating efficient handling of goods, optimizing space utilization, and reducing labor costs. 3PL companies offer value-added services like kitting, labeling, packaging, and assembly, leveraging AMHE technologies to deliver customized solutions tailored to meet the unique requirements of each client. Consequently, 3PL providers are poised for robust growth in the Automated Material Handling Equipment market as they continue expanding their service offerings and adapting to the evolving needs of the industry.
Asia Pacific is expected to grow at the highest CAGR in the Automated Material Handling market market during 2024-2029
The Asia Pacific region is expected to lead in the Automated Material Handling Equipment market with the highest CAGR, propelled by several key factors. Rapid industrialization and urban expansion in the region are creating a demand for efficient material handling solutions to support the expanding manufacturing and logistics sectors. The booming e-commerce industry in Asia Pacific, driven by a growing middle class and increasing internet connectivity, is fueling the need for advanced AMHE technologies to meet the escalating demands of online retail. Governments in China, India, and Japan are actively promoting automation and Industry 4.0 initiatives to enhance productivity and competitiveness in manufacturing and logistics.
This involves offering incentives for the adoption of AMHE solutions such as Automated Guided Vehicles (AGVs), Automated Storage and Retrieval Systems (ASRS), and robotics. Economic growth and substantial investments in infrastructure projects, including the development of smart cities and logistics hubs, are accelerating the adoption of AMHE technologies to improve efficiency and optimize supply chain operations. With numerous manufacturing facilities and distribution centers in industries like automotive, electronics, and consumer goods, the increasing adoption of automation is expected to drive significant growth in the Asia Pacific AMHE market in the foreseeable future.
Research Coverage
This report offers detailed insights into the Automated Material Handling Equipment market based on Product (Robot, ASRS, Conveyor & Sortation systems, Crane, AGV, WMS, RLTS), Industry (Automotive, Chemical, Aviation, Semiconductor & Electronics, E-Commerce, Food & Beverage, Healthcare, Medical Devices, Pharmaceuticals, Metals & Heavy Machinery, 3PL), System type (Unit Load, Bulk Load), and Region (North America, Europe, Asia Pacific, and Rest of the World which includes the South America, Middle East and Africa and Africa).
The report also comprehensively reviews the Automated Material Handling Equipment market drivers, restraints, opportunities, and challenges. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Daifuku Co, Ltd. (Japan), KION GROUP AG (Germany), SSI SCHAEFER (Germany), TOYOTA INDUSTRIES CORPORATION (Japan) and HONEYWELL INTERNATIONAL INC. (US) are the key players in the Automated Material Handling Equipment market. These leading companies possess a robust portfolio of products and services, establishing a strong presence in established and emerging markets. The study provides a comprehensive competitive analysis of these key players in the Automated Material Handling Equipment market, presenting their company profiles, recent developments, and key market strategies.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 368 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $33.3 Billion |
| Forecasted Market Value (USD) by 2029 | $51 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Premium Insights
- Rising Deployment of Automation Solutions in Warehouses to Boost Asia-Pacific Market
- ASRs Segment to Account for Largest Market Share During Forecast Period
- Automotive Segment to Hold Largest Share of Automated Material Handling Equipment Market in 2029
- Unit Load Material Handling Segment to Hold Larger Share of Automated Material Handling Equipment Market in 2029
- China to Register Highest CAGR in Automated Material Handling Equipment Market During Forecast Period
Market Dynamics
- Drivers
- Rising Penetration of Automated Storage and Retrieval Systems into E-Commerce Industry
- Increasing Number of Startups Offering Robotic Solutions for Warehouse Automation
- Rising Demand for Automated Material Handling Equipment in Various Industries
- High Labor Costs and Safety Concerns
- Paradigm Shift Toward Mass Customization from Mass Production
- Demand for Lean Manufacturing and Just-In-Time (JIT) Practices
- Restraints
- Requirement of Significant Investments by Small and Medium-Sized Enterprises
- High Integration and Switching Costs
- Inadequate Technical Expertise to Manage System Operations
- Integration Complexities
- Opportunities
- Growing Order Customization and Personalization
- Industry 4.0 Integration with Automated Material Handling Equipment
- Substantial Industrial Growth in Emerging Economies
- Expanding Intralogistics Sector in Southeast Asia
- Potential Growth Prospects in Healthcare Industry
- Integration with IoT and Data Analytics
- Challenges
- Production and Revenue Losses due to Equipment Downtime
- Technical Challenges Related to Sensing Elements
- Constant Technological Advancements in Development of Flexible and Scalable Automated Material Equipment
Technology Analysis
- Key Technologies
- Wearable Technology
- Predictive Analytics
- Robotic Process Automation
- Machine Learning Platform
- Complementary Technologies
- Digital Twin Model Builder
- Voice Recognition Technology
- Adjacent Technologies
- 5G
- IoT
- Industry 4.0
- Blockchain Technology
Regulatory Landscape
- Regulatory Bodies, Government Agencies, and Other Organizations
- Standards and Regulations Related to Automated Material Handling Equipment Market
- Safety Standards for ASRs
- Safety Standards for AGVs
Offerings in Automated Material Handling Equipment Market
- Hardware
- Software
- Services
- Maintenance and Repair
- Training
- Software Upgrade
Emerging Applications of ASRs
- Hospitals
- Manufacturing Integration
- Academic Institutions
Emerging Applications of AGVs
- Hospitals
- Retail
- Theme Parks
Emerging Technologies Used in AGVs
- Dynamic Wireless Charging
- LiDAR Sensors
- Camera Vision
- Dual-Mode AGVs
Technological Trends Shaping Future of Automated Material Handling
- Big Data and Analytics
- Internet of Things (IoT)
- Mobile Technology
- Voice Picking
- Advanced Robotics
- Autonomous Vehicles
Emerging Material Handling Technologies Associated with Industry 4.0 Framework
- Blockchain Technology
- Autonomous Mobile Robot (AMR)
- Cobot Palletizer
- 3D Mobile Robot
Companies Featured
- Daifuku Co. Ltd.
- Kion Group AG
- SSI Schaefer
- Toyota Industries Corporation
- Honeywell International Inc.
- Hyster-Yale Materials Handling, Inc.
- Jungheinrich AG
- Hanwha Corporation
- JBT
- Kuka AG
- Beumer Group
- Knapp AG
- Murata Machinery, Ltd.
- TGW Logistics
- Viastore
- Addverb Technologies Limited
- Snap-On Autocrib
- Automation Logistics Corporation
- Avancon SA
- Ferretto Group S.p.A.
- Grabit
- Invia Robotics, Inc.
- Locus Robotics
- Meidensha Corporation
- Mobile Industrial Robots
- Westfalia Technologies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ucrbni
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