The focus on minimizing the risk of accidents and injuries associated with manual handling addresses the growing concern for workplace safety and regulatory compliance. Automated material handling equipment enhances employee well-being and productivity by reducing physical strain on workers and providing a safer working environment. This emphasis on safety and ergonomics serves as a key driver for adopting automated equipment, attracting businesses that prioritize worker safety and compliance with safety regulations.
According to Data Bridge Market Research, the Automated Material Handling Equipment Market accounted for USD 26.20 billion in 2021 and is expected to reach USD 55.71 billion by 2029, registering a CAGR of 9.89% during the forecast period of 2022-2029.
“High use in food and beverages sector drive the market”
Automated material handling equipment has witnessed significant adoption in the food and beverage industry, primarily driven by stringent sanitation requirements. The FDA and USDA regulations demand stringent sanitary conditions for systems involved in transporting foodstuffs. Automated equipment offers advantages such as reduced human contact, improved cleanliness, and enhanced hygiene control, making it ideal for meeting these requirements. Minimizing the risk of contamination and maintaining high sanitary standards positions automated material handling equipment as a crucial solution in the food and beverage industry, driving its growth and ensuring compliance with regulatory standards.
What restraints the growth of the automated material handling equipment market?
“Unavailability of technical expertise”
The automated material handling equipment market may face challenges due to the unavailability of technical expertise. As the demand for advanced automation solutions increases, there is a growing need for skilled professionals who can effectively operate and maintain these sophisticated systems. However, the shortage of trained personnel with expertise in handling and troubleshooting automated equipment poses a significant challenge. Companies may struggle to find qualified professionals, which could impact the implementation and efficiency of automated material handling solutions, potentially hindering market growth. Efforts to bridge this skills gap through training and development programs become crucial for industry success.
Segmentation: Automated Material Handling Equipment Market
The automated material handling equipment market is segmented on the basis of product, system type, software and services, function, and industry.
- On the basis of product, the automated material handling equipment market is segmented into robots, Automated Storage and Retrieval Systems (ASRS), conveyor and sortation systems, cranes, and automated guided vehicles (AGV).
- On the basis of system type, the automated material handling equipment market is segmented into unit load material handling systems, and bulk load material handling systems.
- On the basis of software and services, the automated material handling equipment market is segmented into software, services.
- On the basis of function, the automated material handling equipment market is segmented into assembly, packaging, transportation, distribution, storage, and waste handling.
- On the basis of industry, the automated material handling equipment market is segmented into automotive, metals and heavy machinery, food and beverages, chemicals, semiconductor and electronics, healthcare, aviation, e-commerce, and others.
Regional Insights: Asia-Pacific dominates the automated material handling equipment market
Asia-Pacific (APAC) is dominant in the automated material handling equipment market. This is attributed to the growing demand for cranes and hoists in the mining industry and the increasing adoption of such equipment in the mining and construction sectors due to the rising levels of industrialization within the region.
North America and Europe are expected to experience substantial growth in the automated material handling equipment market from 2022 to 2029. This growth is driven by the rising infrastructure needs and increased government investment in the development of such products within these regions.
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Recent Developments in Automated Material Handling Equipment Market
- In September 2020, Bohus selected Jungheinrich to build a new central warehouse in Lillestrom, near Oslo, Norway. The project, which was commissioned in that month and year, involves the implementation of advanced automation solutions. These include Miniload systems, conveyor systems, and a high pallet racking warehouse, all aimed at enhancing the efficiency and effectiveness of Bohus' logistics operations.
The Prominent Key Players Operating in the Automated Material Handling Equipment Market Include:
- Anhui Heli Co., Ltd. (China)
- HAULOTTE GROUP (France)
- Ingersoll-Rand (U.S.)
- SSAB (Sweden)
- Zoomlion Heavy Industry Science&Technology Co., Ltd. (China)
- Hyster-Yale Materials Handling, Inc. (U.S.)
- PALFINGER AG (Austria)
- Cargotec Corporation (Finland)
- Columbus McKinnon Corporation (U.S.)
- TOYOTA INDUSTRIES CORPORATION (Japan)
- KITO CORPORATION (Japan)
- XCMG Group (China)
- Linamar (Canada)
- Terex Corporation (U.S.)
- Jungheinrich AG (Germany)
- Liebherr Group (Germany)
- Konecranes (Finland)
- Manitowoc (U.S.)
- Tadano Ltd. (Japan)
- Crown Equipment Corporation (U.S.)
- Mammoet (Netherlands)
- Komatsu Ltd. (Japan)
- MITSUBISHI LOGISNEXT CO.,LTD (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of automated material handling equipment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Automated Material Handling Equipment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
