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Automated Material Handling Equipment Market is likely to witness considerable growth by 2025

Author : Rahul Varpe | Published Date : 2019-10-10 

Automated Material Handling Equipment Market report is an all-inclusive document, compiled and designed to provide best-in-class research, insightful analysis and accurate quantitative data. The coverage of this research is the most extensive when compared to other similar studies available on Automated Material Handling Equipment Market. The industry ecosystem information presented in this report is next-to-none and aims to address all stakeholders of the industry, irrespective of their size and business function. Details of segmentation and cross reporting structure, wherever feasible, makes this Automated Material Handling Equipment Market research one of its kind to offer the most in-depth, readily available data.

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The incorporation of advanced technologies, such as machine learning, AI, IoT, and robotics, into these systems is a major factor driving the growth of the automated material handling equipment market. The systems provide smooth & real-time order picking in manufacturing processes and help businesses to speed up their material handling processes. The implementation of advanced technologies, such as Automated Guided Vehicles (AGV), in distribution centers enables industries to process high volumes of repetitive movements of material, resulting in higher throughput. Such systems allow vehicles to make routing decisions based on the real-time feedback of environment conditions along with the ease of navigational adjustments. In addition, the use of ultrasonic sensors, visual indicators, and emergency stop buttons provides optimum safety in the environment.

Asia Pacific automated material handling equipment market is expected to witness high growth during the forecast timespan. The increasing development of the manufacturing sector across various industries, such as automotive, metals & heavy machinery, and consumer electronics, has led to significant growth prospects. Rising government initiatives for promoting warehouse automation in countries including China and India are contributing to the larger revenue share of the industry. Moreover, manufacturers in the region are expanding their production capabilities to avoid dependency on other countries for importing machine parts. Such factors are driving the development of manufacturing industries in the region, accelerating market growth.

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High operational and maintenance costs associated with these systems are expected to hinder the automated material handling equipment market growth. The use of automation in the manufacturing process requires ensuring smooth operations, resulting in higher operational costs. The rising trend of renting equipment due to increasing capital cost can impact the overall growth of the market. Moreover, governmental norms related to workplace safety associated with the usage of products may hinder market growth.

The key players in the automated material handling equipment market share include BEUMER Group GmbH & Co. KG, Daifuku Co., Ltd, Hyster-Yale Materials Handling, Inc., Fives Group, KUKA AG, KNAPP Group, Kion Group AG, Murata Machinery, Schaefer Systems International, Inc., TGW Logistics Group, and Intelligrated, Inc.,. These players are adopting various strategies to enhance product capability and expand their manufacturing facility to achieve economies of scale. For instance, in June 2017, Hyster-Yale Materials Handling, Inc., acquired Zhejiang Maximal Forklift Company Limited, a manufacturer and distributor of forklift products. The acquisition aided the company in expanding its manufacturing capabilities, developing access to competitive component, and strengthen the product portfolio to offer enhanced solutions to its customers.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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