Automated Material Handling Equipment Industry To Grow at a CAGR of 8.9%

Automated Material Handling Equipment Industry worth $51.0 billion by 2029

The report "Automated Material Handling Equipment Market by Product (Autonomous Mobile Robots, Cobot Palletizers, Automated Storage & Retrieval Systems, Conveyors Systems, Warehouse Management System, Automated Guided Vehicles), Region - Global Forecast to 2029" The global Automated Material handling Equipment market size is anticipated to grow from USD 33.3 billion in 2024 to USD 51.0 billion by 2029, at a CAGR of 8.9% from 2024 to 2029. The rapid advancement in integrating Industry 4.0 principles with automated material handling equipment,  combined with the incorporation of IoT and data analytics, alongside heightened labor expenses and safety concerns, is expected to drive the expansion of the Automated Material Handling Equipment Market.

Browse 225 market data Tables and 80 Figures spread through 265 Pages and in-depth TOC on "Automated Material Handling Equipment Industry"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/automated-material-handling-manufacturing-market-92483121.html

Automotive industry segment to hold the largest market share in 2024.

The market for automated material handling equipment is expected to be dominated by the automotive sector because of its great demand for the effective handling and transportation of parts and completed goods inside production facilities. To increase production and reduce costs and errors, automobile firms that operate on a big scale actively invest in automation technology like robotics and automated guided vehicles (AGVs). Moreover, Industry 4.0's objectives are in line with the sector's emphasis on innovation and constant development, which encourages increased automation and digital technology integration. These elements place the automobile industry in a prominent position to propel the market for automated material handling systems.

WMS Product grows at the highest CAGR in the Automated Material Handling Market market during the forecast period.

Warehouse Management Systems (WMS) are anticipated to exhibit the highest CAGR within the automated material handling equipment industry for several key reasons. The surge in e-commerce activity stands out as a significant catalyst, driving the need for efficient order processing amidst escalating order volumes. WMS facilitates the automation of workflows, enhances warehouse space utilization, and streamlines picking and packing operations. The increasing emphasis on enhancing labor productivity and safety is fueling the adoption of WMS. These systems reduce dependence on manual labor, thereby minimizing the risk of workplace injuries and enabling companies to achieve more with fewer personnel. WMS seamlessly integrates with other automated equipment such as robots and conveyor systems, fostering a more interconnected and intelligent warehouse environment. This seamless integration plays a pivotal role in the advancement of Industry 4.0 and smart factory initiatives, underscoring the role of WMS in contemporary material handling practices.

Unit Load Material Handling Type accounts for largest market share in 2023.

Unit load material handling systems held the majority of the market share in 2023. They provide a great deal of adaptability. Palletized items can be handled by a variety of equipment, such as pallet jacks, conveyor belts, and forklifts, which makes them appropriate for a range of sectors. Businesses can streamline operations at various supply chain levels because of this flexibility. Systems with unit loads are very efficient. Palletized goods are easy to stack and move in large quantities, which maximises storage space and cuts down on transit time. Faster product delivery and cost savings are the results of this efficiency. Unit load systems are often well-established technologies that have operators with the necessary skills and easily available parts. Their extensive use and pre-existing infrastructure make them a dependable and affordable solution for a lot of companies.

Asia Pacific region to grow at the highest CAGR during the forecast period.

The industry for automated material handling equipment is expected to grow at the fastest rate in the Asia Pacific region. The growing need for effective production methods and higher output due to the growth of the manufacturing sector in nations like China, India, Japan, and South Korea. Automation is required due to the growing e-commerce industry's demand for quicker and more efficient fulfilment. Companies are also investing in automated solutions as a result of growing worker safety concerns and increased labour costs. Government programmers, that rely on automation, are aggressively pushing Industry 4.0 and smart factory concepts in a number of APAC countries. A perfect storm is being created by these interconnected factors for the Asia Pacific region to quickly adopt automated material handling technology.

Key Players

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 globally.

Don’t miss out on business opportunities in Automated Material Handling Equipment Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on TwitterLinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Automated Material Handling Equipment Market Size,  Share & Growth Report
Report Code
SE 2976
PR Published ON
5/2/2024
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Automated Material Handling Equipment Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home