Escalating Demand for Automated Solutions Is Driving the Global Automated Material Handling Equipment Market to Proliferate at a Cagr of 8.17% by 2026
“According to the new market research report published by Inkwood Research, the Global automated material handling equipment market reached around $ 30236 million in 2017 and is exhibiting to reach $ 60909 by 2026. The market is growing at 8.17% of CAGR over the forecasting years.”
“Browse 39 market Data Tables and 52 Figures spread over 200 Pages, along with an in-depth TOC on global automated material handling equipment market forecast 2018-2026.”
Automated material handling equipment is an integrated system that operates without human participation. It utilizes a wide range of equipment such as manual, automated and semi-automated. The various application of automated material handling equipment are control of materials, protection, and storage during the time of manufacturing, storing, distributing, consuming, and disposing of. The integrated systems such as conveyors, sorters, stackers, trolleys, bins, totes etc. are employed in assorted diligences such as packaging, automotive, e-commerce, and others.
The automated material handling equipment market is proliferating owing to various key factors such as augmenting focus towards the safe working environment, increasing the need for automated solutions across industries, development in technology, demand for automation from pharmaceutical and healthcare sector, and reduction in labor cost. However, the maintenance cost of equipment and systems is high, availability of automated guided vehicles on lease, and high capital and running cost are restraining the growth of the market.
The automotive sector is the largest consumer of the global automated material handling equipment market
Automotive is the key application of the global automated material handling equipment market and is contributing the highest revenue share in the year 2017. The International Federation of Robotics (IFR) states that the automotive sector is one of the most prevalent end-user of industrial robotics. Here, the robots are employed to mechanize the material handling process which is acting as the key driver for the growth of the automated materials handling equipment market in the automotive sector.
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The E-commerce industry is evolving at a significant rate due to the increasing dispensable income throughout the globe and the growing demand of customers for efficient and rapid delivery. This is further increasing the utilization of advanced warehouse, logistics solutions, and fulfilment that aid in propelling the productivity and reduce the operational cost. Automated material handling equipment systems are preferred in the e-commerce sector as they highly rely on warehouses for its operations which is creating an escalated demand for warehouse automation and in turn, influencing the global automated material handling equipment market.
Europe is the global leader in the automated material handling equipment market
Europe automated material handling equipment market held the largest share in 2017. The growth of the market is uplifted by the initiatives taken by the government to stimulate factory automation solutions in the region. The Industry 4.0 initiative adopted throughout the region also accentuate automation that can envisage autonomous trigger in maintenance processes, failures, and ability to respond to unexpected changes in production. These advantages are giving a huge boost to the growth of the market in Europe. Moreover, the existence of leading players such as Swisslog Holding AG (Switzerland), Kion Group (Germany), Schaefer Holding International GmbH (Germany) are actively striving to capture majority share in the global automated material handling equipment market.
To conclude, the global automated materials handling equipment is a consolidated market and is exceedingly aggressive as the leading players are acquiring other companies to capture the majority share and sustain its position in the dynamic market. Murata Machinery, Ltd., Daikufu Co. Ltd, Ssi Schaefer Holding International Gmbh, Kuka Ag, and Dematic Gmbh & Co. Kg (Acquired By Kion Group) are some of the established companies in the market.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.